Walmart now buying unwanted gift cards

ALBUQUERQUE (KRQE) – Don’t want that holiday gift card you got this year? Walmart may take it off your hands.

As part of a new test program started today, Walmart is exchanging cards from more than 200 retailers on its website. The promotion will last a few weeks.

Wal-Mart says it will give you up to 97% of the card’s cash value, but it varies by retailer.

For example, an Amazon.com gift card will get you up to 95% while other brands will only be worth 70%.

KRQE did some checking and learned that Walmart is offering eGift cards, not cash, in exchange for the one from the retailer you don’t want. We did a test on the company’s website and were offered $96.60 for a $100 Target card.

Billions of dollars in gift cards go unused every year.

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