{"id":1036,"date":"2010-07-13T08:41:01","date_gmt":"2010-07-13T15:41:01","guid":{"rendered":"http:\/\/www.giftcardadvocate.org\/news\/?p=1036"},"modified":"2010-07-13T08:41:01","modified_gmt":"2010-07-13T15:41:01","slug":"getting-rid-of-unwanted-open-loop-gift-cards-visa-mastercard-amex","status":"publish","type":"post","link":"http:\/\/www.giftcardadvocate.org\/news\/?p=1036","title":{"rendered":"Getting rid of unwanted open-loop gift cards (Visa, MasterCard, Amex)"},"content":{"rendered":"<p><a href=\"http:\/\/www.giftcardadvocate.org\/news\/wp-content\/uploads\/2010\/07\/cclogo_small.jpg\"><\/a><a href=\"http:\/\/www.giftcardadvocate.org\/news\/wp-content\/uploads\/2010\/07\/cclogo_small1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-1038\" title=\"cclogo_small\" src=\"http:\/\/www.giftcardadvocate.org\/news\/wp-content\/uploads\/2010\/07\/cclogo_small1.jpg\" alt=\"\" width=\"321\" height=\"79\" srcset=\"http:\/\/www.giftcardadvocate.org\/news\/wp-content\/uploads\/2010\/07\/cclogo_small1.jpg 321w, http:\/\/www.giftcardadvocate.org\/news\/wp-content\/uploads\/2010\/07\/cclogo_small1-300x73.jpg 300w\" sizes=\"auto, (max-width: 321px) 100vw, 321px\" \/><\/a><\/p>\n<p>I just discovered that <a href=\"http:\/\/www.giftcardrescue.com\/\" target=\"_blank\">GiftCardRescue <\/a>buys open-loop gift cards.\u00a0 They have been doing so since 2008, but I just noticed recently.<\/p>\n<p>As far as I know (and they agree) they are the <strong>only<\/strong> secondary gift card marketplace to offer to buy any open-loop cards.\u00a0 Discover cards are not included, but those are rare.\u00a0 They will buy any non-reload-able card from any issuer, that has <strong>not<\/strong> yet been registered to a person.\u00a0\u00a0\u00a0 They resell the cards on their site for a 4-7% discount.\u00a0 Because you are not paying the additional up-front fee, this amounts to more like a 10+% discount, a real bargain if you are looking to buy one of these cards.\u00a0 This is a much better option than buying them new from a store.<\/p>\n<p>This is a big deal, as those cards in particular have been a big part of the problem when it comes to high fees and short expiration dates.\u00a0 Now consumers have at least one option to get rid of those cards before they self-destruct.\u00a0 It remains to be seen whether the federal gift card legislation as part of the <a href=\"http:\/\/www.giftcardadvocate.org\/news\/?p=474\" target=\"_blank\">Credit Card Reform Act of 2009<\/a> will truly squash these fees and expiration dates, or whether <a href=\"http:\/\/www.giftcardadvocate.org\/news\/?p=540\" target=\"_blank\">many loopholes<\/a> will be exploited.<\/p>\n<p>Another option to cash out of open-loop cards is to find a friend with a merchant account to run it through their physical or virtual card processor to extract the remaining value.\u00a0 The merchant processing fee runs around 3% for most merchants.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>I just discovered that GiftCardRescue buys open-loop gift cards.\u00a0 They have been doing so since 2008, but I just noticed recently. As far as I know (and they agree) they are the only secondary gift card marketplace to offer to buy any open-loop cards.\u00a0 Discover cards are not included, but those are rare.\u00a0 They will [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-1036","post","type-post","status-publish","format-standard","hentry","category-tips"],"_links":{"self":[{"href":"http:\/\/www.giftcardadvocate.org\/news\/index.php?rest_route=\/wp\/v2\/posts\/1036","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.giftcardadvocate.org\/news\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.giftcardadvocate.org\/news\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.giftcardadvocate.org\/news\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.giftcardadvocate.org\/news\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1036"}],"version-history":[{"count":5,"href":"http:\/\/www.giftcardadvocate.org\/news\/index.php?rest_route=\/wp\/v2\/posts\/1036\/revisions"}],"predecessor-version":[{"id":1051,"href":"http:\/\/www.giftcardadvocate.org\/news\/index.php?rest_route=\/wp\/v2\/posts\/1036\/revisions\/1051"}],"wp:attachment":[{"href":"http:\/\/www.giftcardadvocate.org\/news\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1036"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.giftcardadvocate.org\/news\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1036"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.giftcardadvocate.org\/news\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1036"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}