The secret life of gift cards: Here's what happens to the billions that go unspent each year
The secret life of gift cards: Here's what happens to the billions that go unspent each year
Americans are expected to spend nearly $30 billion on gift cards this holiday, according to the National Retail Federation. Most will be redeemed.
Gift cards make great stocking stuffers — just as long as you don’t stuff them in a drawer and forget about them after the holidays.
Americans are expected to spend nearly $30 billion on gift cards this holiday season, according to the National Retail Federation. Restaurant gift cards are the most popular, making up one-third of those sales.
Most of those gift cards will be redeemed. Paytronix, which tracks restaurant gift card sales, says around 70% of gift cards are used within six months.
But many cards — tens of billions of dollars’ worth — wind up forgotten or otherwise unused. That’s when the life of a gift card gets more complicated, with expiration dates or inactivity fees that can vary by state.
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I'm so glad I live in California where they do not expire and you can just exchange them for cash if they are over $5 or $10 (it's one or the other).
Where can you exchange one? I'm in California too and I just received one and haven't had one in years.
Usually the place the card is for.
Oh it's just a MC. Nevermind.
You just take them to the store the gift card is for. OP has it wrong though, it has to be under $10 not over $10 to get the cash value.
You have that flipped, it’s cash out if they’re $10 or under not over.