Pay Your Bills…With a Gift Card

A new way to pay

photo by ThinkStock

If you don’t know what to do with those unused gift cards you received during the holidays last year, not to fear. Now you can use them to pay your bills. (Yes, to pay your bills!) Plasticjungle.com, a website that specializes in gift card exchange, joined forces with online bill payment portal ChargeSmart to form a partnership that will let consumers pay bills online with gift cards. This new partnership allows you to use gift cards toward online payments for student loans, auto loans, utility bills, or mortgage payments. According to Plastic Jungle, approximately $30 billion in gift cards go unredeemed.

If you choose to pay your bills this way, you’ll be guaranteed 92% of the value of your card. The amount you’re guaranteed will depend on the demand for that particular card. So far, companies such as Chase Auto and Bank of America accept payments via gift card. This service will be available to the public in a few months. Until then, here are some tips on what you can do with your unwanted gift cards right now:

Make an exchange. Websites like cardpool.com link you with others who received gift cards they don’t want.

Sell your gift card. GiftCardRescue.com allows you to sell and buy gift cards. The website pays 65% to 90% of the card’s value.

For further reading, see:

Don’t Let Your Gift Cards Go to Waste

ACROSS THE WEB