Reading an article on Moneyville today I learned about Gift Card Recycle Canada. Let me tell you - I am in LOVE with this site. I was able to trade my iTunes and Sport Chek for a Chapters gift card totaling $40. I paid just over $4 in fees (you can pay either by credit card or PayPal) for the opportunity to trade my cards.
One note I'll make is that while there is a big list of potential gift cards, you aren't able to trade for just anything. A $20 gift card for the Gap for example could be traded for a $20 card to Build-a-Bear, Panago, or McNally Robinson. A $40 gift card for Shoppers can be traded for a $40 card to La Senza, and a handful more less valued cards.
Tomorrow I'm off to the post office to mail the company my two gift cards, and once recieved I'll be sent my Chapters cards. Let me tell you, I'll be using this site again when I recieve a gift card at a store I'm not too keen for!