As gift cards have become both more popular and more convenient in recent years, many of us have found ourselves in the oddly frustrating situation of having a tiny and/or unknown balance left on a card that we don’t know how to use but don’t want to waste.

An informative post from WiseBread.com offers a number of interesting and helpful suggestions for putting the final balances to good use. Here’s an overview.

Step One: Know Your Balance

Before you can spend your remaining balances on anything, you should need to know what they are. Try pasting small paper labels to each gift card you get (or use post-its) and update the remaining balance every time you make a purchase. That way you’ll never worry about tossing still-valid cards. By knowing the true value of a gift card, you can work it into your budget and help stretch your dollar after a bankruptcy filing.

Step Two: Know Your Options

So, what exactly can a person do with meager gift card balances? Probably more than you’d think.

• Try Amazon. Some gift cards (notably credit card branded ones) may let you buy Amazon gift cards for values of $5.00 or greater. But the process is a bit complex: do some research to figure out whether your card will work.
• Donate to charity. Local homeless or women’s shelters may be grateful for a gift card in any amount – but remember that if you do decide to donate one to disclose its current value and any restrictions, fees or expiration information you have.
• Turn it to cash. Some banks (Chase has reportedly done this) will convert gift card balances under $10 into cash—which is a lot more flexible and convenient.
• Tip it. This works well particularly if you get a card for a store that’s not in your area or whose products you don’t particularly like. Next time you’re at a restaurant, leave the gift card in addition to your server’s tip. Just make sure you explain what you’re doing and the amount it’s worth, if it isn’t printed on the card.
• Exchange it. The Internet offers a wealth of options for those interested in exchanges or selling gift cards—check out sites like GiftCardRescue.com, PlasticJungle.com and SwapGift.com to trade with others who didn’t like what they got. Or, if you don’t mind the extra legwork, try selling it on Ebay.

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