We’ve all gotten a gift card to that one place you’d never step foot in, much less purchase something from. So the chance to turn that unwanted bit of plastic into something you actually want, say, cash, or credit somewhere else, is an enticing idea.

PlasticJungle.com caught our eye while perusing CNNMoney for its services, which included buying gift cards at a discount price or selling off your unwanted card for up to 92% of its value in online credit or real cash.

It claims to be “the web’s largest secured gift card exchange, offering the best way to buy and sell gift cards online.”

For those looking for deals, you can either peruse the cards they have for sale or set up notifications from specific merchants.

To exchange your unwanted gift card, you enter the balance of the card on the site (or guess, they will verify it later) and select the merchant who issued it. PlasticJungle will then make you a cash offer. If you choose to accept it, print out a pre-paid shipping label and mail the card in, and select your method of payment — PayPal or check.

Even partially used cards can be exchanged for credit with Amazon or other online merchants, or you can donate the unused balance to your favorite charity.

Has anyone out there had the chance to try this service? We’d love to hear whether or not it lives up to its promises.

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