Can you get cash back on gift cards?
Can you get cash back (or cashback as it’s often spelled) from gift cards?
I wish there were a simple yes or no answer to this question, but there’s not.
But, before you give up on me, let’s ask one important question, ‘What does cash back really mean?”
The definition of cash back
It seems that even dictionaries can’t agree on this one.
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Some define cash back (loosely) as a percentage of credit received after using a debit or credit card to make payment for a product or service.
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A discount is offered in return for immediate payment.
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A rewards program where customers can earn back flat rate cash for the money they spend while shopping.
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Getting something in return for making a purchase – a gift, a discount, gift cards, or rewards.
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Get cash as part of your purchase. For example, if you buy goods for £100 on a debit card and ask for £20 cash back, the extra £20 is added to your transaction price. But it’s you who pays for it.
And so, it goes on.
In reality, the answer is a resounding no if we take the word ‘cash’ to mean paper money or coins, wonga, greenbacks, spondulicks, or whatever you choose to call it.
There are a few exceptions, but they are hardly worth investigating, at least not now.
As a general rule, cashback can refer to any discount, reward, or the return of a percentage of the payment price after at least the minimum payment has been made.
These are often available as gift card rewards.
Getting more out of your purchase
Imagine buying online like you always do but now with the added rewards for each purchase. That’s exactly how our rewards app works. And best of all, it’s free!
Gift cards and marketing
Gift cards, no matter where you get them, are not designed solely as a means of paying for goods or services. These prepaid cards are marketing ploys used very effectively by retailers, PR companies, and marketing agencies.
The main purpose of prepaid cards is to entice the owner to spend the eligible purchase amount on items and services that they may not necessarily need.
So, shouldn’t you just be able to redeem rewards as cash?
Yes, of course, you should, but only if you have the patience to get involved in some convoluted horse-trading. In the past, it was possible to earn cash rewards in return for unwanted prepaid cards; it’s not so easy anymore.
Cash back on gift cards
Getting more out of your purchase
Imagine buying online like you always do but now with the added rewards for each purchase. That’s exactly how our rewards app works. And best of all, it’s free!
Some people even use the gift card balance for other purchases they don’t want. They then return the product in exchange for cash back. However, many retailers now have a no-refund policy and use non-cash redeemable gift cards in exchange for returned goods.
Read more about gift cards here
How to get cash back on gift cards
If you’re willing to spend, there’s always bonus cash to be earned.
If you take a little time before you make everyday purchases, look around and search for an online only offer. With this strategy, you can be almost 100% certain that you’ll find exactly what you’re looking for with a discount and even the possibility of receiving additional bonuses like prepaid cards in return.
There are many ways of getting cash back and preferred rewards on gift cards, and many sites where you can find them.
Loyalty cards, credit and debit cards, or a premier rewards program like Monetha, taking surveys, offering your opinion, and testing products or services.
Digital gift cards versus physical gift cards
Before we start, you might want to know that gift cards come in two formats: digital and physical.
A digital gift card or a prepaid card is designed to be used exclusively for online shopping, while physical cards are designed to be used for both purchases in-store and online.
Let’s take a look at a couple of ways of getting cash back on gift cards and the best places to do it.
Amazon Prime
Amazon Prime is an online shopping service – you can get a free trial for up to 30 days – that guarantees discounts, rewards, and numerous bonus categories that pay for your membership over and over.
Membership comes in multiple varieties offering a wide range of bonus categories, including fast and free delivery, TV, movies, and live sports subscriptions, music sites, Prime Day – a retail sales event – free games, exclusive deals, reduced-price medication, free reading service, unlimited photo storage, plus a free food delivery platform membership, and flat rate rewards. Of course, you need to pay an annual fee for it. The upside is you can pay it in monthly installments.
Tesco Clubcard
The Tesco Clubcard is a loyalty program with over 17 million members who benefit from discounts, great deals, and gift cards every week.
It’s a simple process: For every £1 spent online or in-store with Tesco, members get one point. The points can then be used to receive discounts for future purchases and avail of rewards, including prepaid cards.
Tesco has also joined up with reward partners like Disney, RAC, Virgin Atlantic, and several others to offer even more choices in other purchases and greater value to members.
Monetha Rewards Program
Monetha is a rewards program that costs nothing to join. In fact, upon account opening, you’ll receive a sign up bonus in the form of valuable reward points.
Monetha has partnered with hundreds of online shops that offer free access to great discounts, deals, and ways to save when online shopping.
Every time you shop with Monetha partners, you earn points. You can redeem rewards in several ways, such as an investment in cryptocurrency, making donations to charity, or exchanging hundreds of gift cards from some of the world’s top retailers and brands. In addition, there are gift cards that can be used on drugstore purchases, restaurant purchases, and plenty more online shopping perks.
Monetha also offers a bonus category of paid surveys that can grant you a bit of bonus cash.
Read more about Monetha and cash back here
Shop and receive gift cards
With the right app, earning gift cards have never been so easy! Use rewards app, do your regular shopping and get rewarded with every purchase.
Credit Cards
Here’s a novel idea – credit card rewards.
If your credit card—or debit card—offers a cash back option (where you get back 1-2% of any purchase price), use it to buy gift cards online. Be aware of foreign transaction fees, though—you can learn about them on your card issuer page.
Not only will you get your cash back credit cards reward, but you can also use the gift card to make a purchase with even more discount on your future purchases from the store of your choice.
Gift cards from the biggest online retailers, like Amazon, eBay, or a Target gift card, can be used once or on multiple occasions until the card’s value is redeemed. However, if there’s a difference in price, the excess can only be paid by card or direct deposit (where you can get more cash back).
Starbucks
We might be stretching the gift card cash back definition a little here, but with the Starbucks coffee outlet, every time you make a purchase, you receive 3 reward stars.
When you reach a certain number of stars (150), you can redeem rewards for a free drink. The Starbucks gift card program is easy to join and also offers additional incentives—in the form of extra stars—from time to time.
If you want to nail your membership, keep saving your points up to the Gold Level and receive ever bigger and better rewards.
Get gift cards for your opinions
Hundreds of websites are willing to pay you in gift cards for your opinion, web searches, watching videos, playing games, and other common bonus categories.
One of the most popular sites is Swagbucks, which offers multiple ways to earn points that can be redeemed for free gift cards or PayPal cash.
Swagbucks is a downloadable app that lets you earn points in your spare time wherever and whenever you want. You can then redeem rewards for gift cards and coupons from Walmart, Visa gift cards, and other well-known online shopping outlets.
You can read more about cash back, gift cards, and other great ways of saving money when you spend, here
Cashback with every purchase
Shop via Monetha’s app and get rewarded with every purchase you make. Accumulate points and spend them on thousands of available gift cards. Fast, easy, reliable – Monetha is your gateway to huge savings!
Monosurveys
MonoSurveys is a marketing company that is more than happy to pay you for expressing your opinion by participating in paid surveys that eventually help retailers and service providers test the market or improve their brand.
The surveys can range in topics from giving your opinion on grocery stores to electronics to politics and cars.
During a survey, you might be asked your opinion on a brand’s new packaging design, the visual appeal of a product, your in-store shopping habits, or your likelihood to purchase a new product based on advertising.
You can also be asked to test new products, participate in phone or SMS surveys, play games, or simply voice your opinion on a particular subject.
In return for your input, you’ll be paid in gift cards meant for online shopping that can be redeemed in hundreds of retail outlets worldwide.
Coupon sites
By downloading an app like Honey, you can shop your way to great price reductions and receive rewards like prepaid cards from some of the world’s most well-known brands.
Every time you shop, you can use the app to search online and determine if you’re getting the best price.
Once you find the best price, Honey will apply a coupon or voucher to eligible purchases, helping you make even bigger savings.
Get gift cards with your mobile phone – MobileXpression
This is one of the easiest ways to earn free Amazon gift cards. All you have to do is download the MobileXpression software to your phone and use it as usual.
Just for doing that, you’ll be rewarded with a free Amazon gift card. The longer you keep the app on your phone, the more prepaid cards you’ll earn.
Plus, in case you’re worried about what the app is doing on your phone, you’ll be pleased to know that it doesn’t have access to your files, videos, photos, or call logs.
You can expect to earn £10 within the first two weeks of signing up. However, the cash amount in the prepaid cards will be reduced after the initial sign-up period. The good news is you can leave at any time.
Earn gift cards with your shopping receipts and Shoppix
This is a really simple way to earn money for your Amazon account. Download the Shoppix app and scan your shopping receipts every time you shop.
That’s it? Yep, that’s it.
Shoppix will reward you with prepaid cards that can be added to your account.
Pretty simple, eh?
Want to know how to score cash back on hotel stays? Come visit Monetha to learn more quickly.
Can you get cash back from a Visa gift card?
In short, yes.
If you’ve been given a Visa gift card but would rather have the cash back, you can do this in several ways.
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Visit and ATM
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Use your prepaid Visa card as cash for online retail purchases
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Sell your gift card – usually at a lower value
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Buy money orders and exchange them
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Buy and flip products
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Add money to your PayPal account
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Sell your prepaid card to a friend
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Invest all the cash
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Re-gift the card to buy a gift that you would have had to spend cash on
Can you get money off a gift card?
If you do a quick search online, you’ll find that there are plenty of online businesses offering discounted gift cards.
Sites like Giftcards.com, CardPool, Raise, and CardCash let you buy discounted gift cards on their websites.
If you have some time on your hands, looking for discounted gift cards or your favorite grocery stores or fashion retailers might be worthwhile, but that depends on whether you get a really good deal or not.
It’s also worth noting the following:
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The time invested, when measured against the savings-made ratio, doesn’t always work out in your favor;
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Some prepaid card sites buy back unused cards, but you’re never going to redeem them for all the cash they’re worth;
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Some individuals buy and sell discounted cards to make a profit.
Are there other ways to earn money with gift cards
That’s a big yes. There are other ways to earn money and replenish your bank account with a store gift card—not many, but they do exist.
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Sell your prepaid card to an official gift card repurchase website – Many websites will buy your card for cash. Some will even provide prepaid postage or eligible delivery service for free. If you have digital prepaid cards, there are websites that will purchase them and pay cash advance immediately. Some of the sites are CardCash, CardPool, Raise, and GiftCard, but remember, your reward dollars won’t come up to the full value of the gift card.
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Use an app to sell your gift card. Download the app—Raise has such an app—and choose how you want to get your cash rewards. But the catch is that app operators will take a percentage of up to 15% of the overall value as commission.
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Sell your card on commercial shopping outlets like eBay or Craigslist. The advantage is that you will unlikely lose as much as the 15% charged by apps as a foreign transaction fee and discount card sites.
FAQ
Can you get cash back from a store gift card?
The only official way you can get cash back from a grocery store’s gift card or any other prepaid card is by selling the card directly to one of the online gift card discount platforms.
Can you get something with a gift card and return it for cash?
This was once a popular way of exchanging a store gift card for cash and replenishing your savings accounts. Purchase something in the store using the gift card, then return the item for dollar rewards.
Most retailers now apply a no-refund policy on goods purchased with gift cards so it’s no longer a viable option to earn cash.
If you want to know more about how you can earn rewards like gift cards and cryptocurrency for purchases you were going to make anyway, visit the Monetha website today – https://www.monetha.io/blog/rewards/how-does-cash-back-work/
