Gift cards are great, if you get the one that you want–or at least one you know you can use. But if you know immediately that this is one you are not likely to use (ever), then do something about it right now! Don’t stick it in your wallet for months hoping to feel differently, trade it in for another card or for cash.

Exchange Unwanted Gift Cards

There are many ways to turn a gift card into cash. You won’t get the full value of the card, but getting a high percentage of cash back is better than holding the card indefinitely and getting nothing. Below are two gift card swap sites I’ve used personally:

• Plastic Jungle: Sell your gift cards for cash! Get up to 92% of the balance. You can opt to get paid by check, PayPal, exchange for an Amazon.com gift card.
• Cardpool.com: Sell Your Gift Cards For Cash at Cardpool.com! You only receive payment by check, but you can actually sell the gift card electronically–meaning you can cash it in without sending the physical card.

Sneaky Alternative

If you received a gift card to a store that has a kiosk, then go to the store and use your gift card to buy a new one. For example, if you received a Michael’s Craft Store coupon and you’re crafted out from the holidays, go to Michael’s anyway. But a new gift card from their kiosk and pay for it with the Michael’s gift card. Totally works. Totally legit. More legwork than using a swap website, but you get full value for the card.

And don’t forget to check out my other advice: Eight Ways to Use Your Gift Cards.

You’re standing in the check-out line and suddenly remember you need to buy a gift. Below are quick ways to grab a gift card, turn it into a thoughtful gift, and be on your way.

Sprouts Farmers Market

Everybody eats. But the key to making a grocery store gift card personal (and not look like you just picked it up while running your own errands) is to pair the gift card with some favorites. Get a gift card to Sprouts and deliver it with:

1. Staple. Always a winner. Grab a Sprouts shopping tote she can fill when she returns to the store.
2. Favorite. Pick a favorite item from the Sprouts shelves. It might be one of your favorites, something the kids love (and don’t complain about), or the recipient’s favorite. If your friend loves spicey foods, try a spicey marinade. If she’s into granolas, grab something fun and flavorful from the bulk bins.
3. Inspiration. Pair a Sprouts gift card with one of their many fresh options. Try something you know she’ll like or can cook with (bell pepper) or go for an inspiration item she isn’t likely to grab on her own (fresh chestnuts).

Another idea is to throw it all in the shopping bag and attach the gift card to the outside–this gift would be perfectly thoughtful–and put together in a jiffy!

My brother lost a gift card and wants to know if I have any tricks for replacing it. The key to the mystery here is to know what he did BEFORE he lost the gift card. It’s not good.

1. He hadn’t put the gift card directly in his wallet for safe keeping.
2. He hadn’t recorded the gift card number and PIN anywhere or registered it on my favorite iPHone app: Tango Card.
3. He didn’t have the purchase receipt because he’d received it as a gift. (By the way, I always give the receipt along with the gift card. There’s no charade here. We both know how much money I spent.)
4. And he didn’t want to tell the giver that he’d lost the card in case they still have the receipt. I get that one. I wouldn’t want to tell anyone either. Unless it came from my mom. I’d tell her.

My Answer Is…

So he’s stuck. I even did a little research and found this great article on CreditCards.com about how to Replace a Lost or Stolen Gift Card. But the advice only works if you did the pre-work mentioned above.

So sorry brother. But next time, follow my advice and put the gift card in your wallet immediately and enter the gift card number and PIN in Tango Card. Then even if you lose the physical card, you still have all the information needed to make an online purchase. And if somebody else got a hold of your gift card and is using it instead of you–you’ll see the balance drain via Tango Card and can then decide if it’s worth reporting.

Wish I had better news.

Buy a Different Gift Card with a Target Gift Card

I took my son to Target so he could redeem one of his birthday gift cards. But with ALL the choices (games, toys, clothes), he couldn’t decide what to buy. That’s when we discovered Target is now selling gift cards to other stores. (Thank you for finally getting on board with that Target!!!)

Imagine Michael’s delight when he discovered he could buy a Club Penguin Membership gift card with his Target gift card. This turned out to be the perfect choice because he loves playing Club Penguin but I won’t pay for his membership. (I save my money for the Wii and other games that encourage movement.)

How to Buy a Gift Card with a Gift Card

There are several website services that enable you to swap your gift card. But with those sites you would have to sell them your gift card (for less than face value) and buy a new one at a discount. Or cash in your gift card and buy whatever you want with cash. But it’s much easier to swap a gift card by purchasing a new gift card with the one you already have.

• The bad news: It only works if your gift card is to a store that sells other gift cards.
• The good news: There are many stores that sell other store gift cards–including Target, Babies R Us, Toys R Us, Michaels, Safeway, Vons, CVS, Lucky, and hundreds of others. The key is to look for a kiosk. If you find the kiosk–you have options!

As gift card kiosks increasingly show up (and stores realize they can make money and drive customers to their store by offering this convenience), it should also be increasingly easy to pull off the Gift Card Switcheroo!!! Works for me!

The great thing about buying discount gift cards for personal use is that the decision to buy is ALL about the savings. The typical anxieties over giving a gift card are totally gone.

Although I planned to do some of our back-to-school shopping at Old Navy, I bought this Baby Gap gift card at PlasticJungle.com for a double-digit savings. Since this baby gift card can be used at Gap, Banana Republic, Old Navy, and other stores owned by the same company, it didn’t matter to me which brand was on the card–only that I could save money buying and using it.

Where to Buy Discount Gift Cards?

I’m a fan of PlasticJungle.com because of the selection and prompt delivery. But you can shop various sites to find the gift cards and discounts you need. Below are a few options:

• GiftCards.com – Up to 25% off Merchant Gift Cards
• Cardpool.com – Buy Discounted Gift Cards For Up To 30% Off!
• PlasticJungle.com – Save up to 35% at your favorite department store! PlasticJungle.com – The new way to save money.

Stack Coupon Codes and Extra Savings

Stack discount gift card savings with in-store coupons, online offers, and online coupon codes to save even more! Below are a few to consider:

• Starts 8/12/2011: Get 25% off your purchase of $100 or more with coupon code BRSUMMER25. Expires 8/16/2011.
• Starts 8/11/2011: Kids Back to School Event: 30% Off Regularly priced items with coupon code GCKIDS. Expires 8/17/2011
• Save up to 90% on Used Textbooks – Order today at BarnesandNoble.com!
• Free Shipping to Home on School Uniforms at Walmart.com!

Do you shop JC Penney or Kohl’s? If so, click over to GiftCardRescue.com and buy gift cards for personal shopping.

3 Reasons to Buy Gift Cards for Youself?

If you shop these stores anyway, might as well get 16% savings before you even head into the store. Here are 3 reasons to buy gift cards now for future purchases:

• Back to School Shopping – Ease the budget crunch that happens at the start of each school year. Both stores have great Back to School sales. So buy the gift card now and combine the 16% savings with in-store offers and you can save a bundle.
• Cheap summer clothes – We just went through the kids drawers and all are in need of shorts and t-shirts for the summer. With a 16% savings at either store, I can get what we need for less.
• Graduation or Wedding gift – Give the gift card as the gift or use the 16% savings to buy a traditional gift at either of these stores. They have everything from clothes to furnishings.

Break it up!

Wanna know a trick? You can buy a gift card with a gift card–which allows you to get a gift card that looks like new or break up the dollar amount into smaller gift card denominations. For example, get a $100 gift card at GiftCardRescue.com for $84. When the used gift card arrives in the mail, go to JC Penney and buy two $50 gift cards that look new and are ready to gift. (Plus, that’s an easy way to ensure the gift card is valid.