Gift cards are more popular than ever it seems. They were an easy gift this year for many of us, and quite a few of us received them too.

The research firm CEB TowerGroups says around $110 billion worth of gift cards were sold this year in the United States, up ten percent over 2011.

But if you received one you don't want, you can exchange it for cash.

Here's how it works.

Today, December 26th, is Gift Card Exchange Day. says Luke Knowles, founder of the site Gift Card Granny, created Gift Card Exchange Day after noticing that online searches like "exchange gift cards" peaked the day after Christmas. And there are resellers willing to pay top dollar for the gift cards.

If you have a $50 gift card to sell, be prepared that you won't get the full $50. Resellers want to make a profit too. But you might get $44 - $47 cash, or even a smidge more in credit.

Just go to the Gift Card Exchange Day website and find the retailer on your Gift Card, and follow the instructions from there.

Need the cash because you overspent on the holidays? If you received enough gift cards you may be able to make up the difference. Good luck!

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