How many gift cards were in your stockings this Holiday Season? After clothing, gift cards were the most popular gift this holiday season. Restaurant Gift cards are the most popular, and around 70% of them will be redeemed. Did you know that many cards wind up unused? Tens of billions of dollars will end up in drawers all over the country. In a recent survey 47% of US adults had at least one unspent gift card.
Tip of the day - While it may take years for a gift card to expire, it is wise to spend it as soon as possible. Generic cards from VISA and Mastercard start accruing inactivity fees if they are not used for a year losing its value over time. If you have a gift card you don’t want, you can find places that will buy your gift card and give you 70-80 cents per dollar.