Gift card exchange: No more middlemen

new gift card exchange cuts out the middleman
new gift card exchange cuts out the middleman

If you're like the rest of us, you've got a few gift cards laying around, collecting dust and, in some cases, losing money month after month as they continue to go unused. Want a better option? You may be able to get something for those unwanted gift cards if you try to sell them at the new gift card social exchange at CardHub.com.

Unlike existing gift card exchange websites, CardHub.com has created a service that cuts out the middleman. Before this new option debuted this week, you had to work with one of the existing key exchange sites that would buy the card from you for 50% to 90% of the amount left on the card, then turn around and sell it for a profit on their website.

But wouldn't it be better to keep the profit for yourself by cutting out the people in the middle? Odysseas Papadimitriou, CEO and founder of CardHub.com, asked himself that very question and designed the new social network for gift card exchanges to "leverage the power of Facebook, as well as the power of friends and associates," as Papadimitriou told WalletPop in an interview.

The new program allows you to use Facebook's social network to let people know you have a gift card to sell and how much you want for it. (The link to Facebook allowed CardHub to put in some security protections so you know the person is legit.) To use the website, you do need an account on Facebook with more than a few friends; as a security measure, you won't be able to use CardHub if you're new to Facebook.