I recently posted that the gift card exchange with United for miles has come back after a small hiatus. The Associated Press has reported that Walmart will be partnering with CardCash on exchanging select gift cards for Walmart gift cards. It seems that they are shedding the name ABC Gift Cards and use CardCash as its name. Therefore, go forward I will also call them CardCash going forward.
As with every other gift card exchange, you won’t receive full value for exchanging a gift card. AP reports you’ll receive up to 95% of the value of a gift card, while the Walmart/CardCash site has up to 97% back.
Shoppers won’t get the full value of their gift cards to use at Wal-Mart. For example, with Amazon.com, customers can redeem up to 95 percent, while for Staples that figure is up to 90 percent and for Gap, up to 85 percent. For some brands, a Wal-Mart gift card will be worth just 70 percent of the original card.
For this method, I don’t recommend buying cheap gift cards to exchange to Walmart gift cards as there’ll be another haircut when you try to resell the Walmart gift card. I am excited to see CardCash expanding the partnerships as I hope this will lead to more retailers or credit card program partnerships.
I do find this statement with my emphasis in the article to be a little comical. There are no sales figures of any of the gift card exchange sites around as they are all privately held as is CardCash. I can buy the fact that Walmart gift cards are most sought after because of the high rates that every exchange buys the cards.
Wal-Mart gift cards are the most sought-after on CardCash, the country’s largest gift card exchange website, said CardCash CEO Elliot Bohm. CardCash is Wal-Mart’s partner in the program. Financial terms of the deal weren’t disclosed.
You’d have to dig around the financial statements of BlackHawk Network for Cardpool, but even then you will not see sales breakdowns. I could say: “I’m the number 1 manufactured spending blogger” or “the number 1 blogger on gift card churning.”
