If your wallet or junk drawer is hiding a stack of unused gift cards, you’re far from alone. According to a Bankrate survey conducted ahead of last year’s holiday season, nearly two in five Americans have at least one unused gift card — and the value adds up quickly.

On average, people holding unused gift cards have about $244 in unspent balances, a noticeable jump from 2022 and 2023, when that number sat below $200. In other words, Americans are leaving more money on the table than ever before.

“Sometimes we’re our own worst enemy when it comes to gift cards,” said Ted Rossman, senior analyst at Bankrate. “We relegate them to the back of our wallet or stuff them in a junk drawer, never to be seen again.”

So why aren’t people using them? Some survey respondents said they misplaced their cards or simply never got around to spending them. But the most common reasons were far more practical: they didn’t like the store the card was for, or the retailer or restaurant felt inconvenient to visit.

Whatever the reason, many Americans are holding onto hundreds of dollars they don’t plan to use anytime soon. The good news? There are legitimate websites that allow you to trade unwanted gift cards for cash or for cards you’ll actually use.

One popular option is CardCash, where users can exchange gift cards for other brands or sell them for cash — though not at full value. For example, a $50 Walmart gift card might net around $40 to $45 in cash, or be swapped for a $40 Amazon card.

Another site, GiftCash, allows users to sell cards outright. Big-name retailers like Target, Walmart, and Home Depot typically fetch higher payouts than smaller stores or restaurant chains. A $50 Target card may be valued around $42, while a $50 Cheesecake Factory card might bring closer to $37.

There’s also Raise, which works more like an online marketplace. Sellers set their own prices, and the platform suggests competitive rates based on current demand. Payouts usually arrive within one to five days via direct deposit, PayPal, or even a paper check.

Before listing any card, consumers should read the fine print. Gift card exchange platforms take a percentage of each sale and may reject certain cards or transactions if balances don’t match or terms are violated.

Still, for anyone willing to accept slightly less than face value, selling unused gift cards can be a smart way to turn forgotten plastic into usable cash.

“Gift cards represent real money,” Rossman said. “It’s disappointing that the amount of unused value continues to grow.”

If you’ve got gift cards collecting dust, now might be the perfect time to put that money back to work.