(WWBT) - There is a fraud involving gift cards being sold on websites like Craigslist and eBay.
A billion dollars' worth of gift cards go unspent every year. Much of that has to do with the recipient not liking the retailer or restaurant.
If you pull up Craigslist right now, you'll see dozens of gift cards for sale, for retailers like Best Buy, Sears, and Apple. The National Consumers League says it's seeing a surge in gift card fraud there and on eBay.
Here's a common scam: Say you want to sell a $100 iTunes gift card. You list it on Craigslist, and someone offers to buy it for $90.
The buyer says they'll pay you through PayPal and asks you to email them the card number and PIN. You get a notification from PayPal that the payment went through and send off those codes. But the second you do, the buyer cancels that digital payment and spends the card before you can do anything about it.
Then you're left empty-handed because Craigslist does not guarantee the authenticity of anything listed on its site.
Scammers are also using hacked PayPal accounts to buy gift cards on Craigslist and eBay, again, leaving sellers in the lurch.
If you want to sell a gift card, your best bet is to do it on a site like CardPool or Raise, which offer guarantees to both buyers and sellers.
Another option is that Target has a card exchange program.
Bring in a card from more than 140 qualifying retailers, and you can swap it for a Target card.
Now, you likely won't get face value, just as you wouldn't on an auction site. You can find the details of the program on Target's website.
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