Education· 6 min read
The basics of gift card rates
Why some gift cards pay more than others. A grounded look at the factors that shape exchange rates.
MP
Written by
Maya Patel
Consumer Finance Editor
Reviewed by
Sarah Lin
Head of Operations
Published May 17, 2026Updated May 21, 2026
What drives gift card rates
Gift card exchange rates aren't arbitrary. They reflect market dynamics.
Brand demand
Widely accepted cards tend to pay closer to face value because they have broader demand.
Liquidity
Cards from niche retailers move slower, so rates are lower.
Risk profile
Cards with frequent fraud have lower rates to offset losses.
Receipt presence
Cards backed by an original purchase receipt qualify for our highest tier rate — they're easier to verify and lower-risk.
Card condition
Unused, full-balance cards pay the most. Partial-balance cards pay a partial-tier rate.