Karlonia.com
For Gold, Peace, and Freedom

Karlonia.com

Gift Card Exchange Site Discovered

June 21st, 2007

While searching through Google results yesterday for a source link on an article that someone sent me, I discovered a potentially useful site for people who want to buy, sell, or trade gift cards. This site piqued my interest because gift cards are a common way to receive compensation from paid surveys and reward programs that do not always pay out in direct cash incentives. The name of the site is Star Gift Card Exchange and is apparently being operated from the Chicago, Illinois area in the USA.

The site is a pretty simple one and seems fairly new. According to the Whois information, the domain was registered on January 5, 2007 with an Admin address in Buffalo Grove, Illinois. Its Alexa rank is around 3 million, indicating a small amount of traffic. The server location and technical contacts are located in Sunnyvale, California.

According to the home page, the stated purpose of Star Gift Card Exchange is to allow people an opportunity to avoid wasting the stored value on their gift cards. This is a service that is sorely needed because there are a lot of gift cards floating around that go unused for various reasons. Due to the policies of participating merchants, for the most part these cards cannot directly be redeemed for cash.

Cards can be sold to the site for 65 to 80 percent of their current balance, depending on the name of the original merchant. The remaining percentage of the balance is split between the buyers of these cards and the site. People can buy gift cards from the site at a discount of 10-20% and thus save a little money compared to what they would normally pay by buying the cards directly from the merchant. Different types of cards can also be traded, with the exchange site acting as the intermediary between the two parties. The site charges a $4 fee to each party involved in the trade.

Overall, this is a very good idea for a site, and I might eventually use their services for selling off cards that I grudgingly accept from various reward programs because they will not pay me by any other method that is feasible for me. The only thing that I really don’t like about this site is that they will only accept cards within a fairly narrow balance range of 25 to 200 dollars. This $25 minimum is a real problem for me because most of the cards that have been given to me over the years fall into the 10 to 20 dollar range, which means that I will still not be able to sell any of the cards that I am currently keeping. However, now that I know that this site exists, I can make sure that I save up at least a $25 balance in any reward programs before redeeming for a card.

If any of you happen to have any experiences with Star Gift Card Exchange or have discovered any other sites that are offering similar kinds of services, please let me know in the comments section below. After a sufficient amount of reliable information has been gathered, I will be able to write up a full review of the business and place it in the “Program Reviews” section.

UPDATE 1/23/08: I have made some minor edits to the post in order to update a few figures on the Star Gift Card Exchange program. For example, the maximum sale percentage on some cards has now increased to 80 percent (from 75), the maximum allowed value per card has increased to $200 (from $100), and the site’s Alexa rank has increased to about 3 million (from 9 million). Unfortunately, the minimum amount for selling cards is still $25, leaving me stuck with several old $20 gift cards that I cannot seem to get rid of and are not feasible for me to use.


Post Your Comments, Opinions, or Suggestions Here:

Name

Email (optional)

Website (optional)