We’ve all been there: We get gifted a gift card to our favorite store or restaurant and forget about it. Eventually, the card expires, and the money is lost forever. However, this can be avoided!
Below, we discuss tips and tricks to avoid wasting another gift card. We’ll also talk about what happens when you don’t use your gift card and your rights as a holder of one.
What Happens When You Don’t Use Your Gift Card?
When most people receive a gift card, they often assume it’ll last forever. But the truth is that most cards expire if they aren’t used within a certain period.
The policies regarding gift card expiration dates vary from one retailer to another, but many cards include an expiration date on the front of the card. If you don’t use your gift card before this date passes, you forfeit any remaining balance leftover from when it first came out of its packaging.
Some retailers may also charge you a monthly fee after 12 months without using their card. This fee can quickly add up and eat away at the balance of your card if you don’t use it within a year. So, what can you do to avoid losing all that money?
Tips and Tricks on How to Avoid Wasting Another Gift Card
Use It Right Away!
This is one of the easiest ways to make sure you don’t lose out on the value of your card. If possible, use it as soon as you can after receiving it so that any fees or expiration dates won’t apply.
Check the Terms and Conditions
Some gift cards have restrictions on what they can be used for, how many times they can be used, or when they expire. Make sure you are familiar with these terms and conditions so that you don’t run into any surprises down the road.
Register Your Card
If a gift card isn’t registered, the balance is often considered abandoned, usually after 18 to 24 months. This means that the card issuer can take the money and give it to someone else. So, by registering your card, you are protecting yourself in case something happens to it, or you forget about it.
Don’t Let Them Expire!
This one is a little harder because most expiration dates are set in stone. However, if there’s no date printed on your card, then it probably doesn’t expire. And if all else fails, call the retailer and ask them about the expiration date. They might be willing to extend it for you.
Use It Online!
This is a great option if the store you want to shop at isn’t close by. Many gift cards can now be used online, so check with the specific retailer to see if they offer this option.
Consider Selling Your Gift Card
There are several websites that allow you to sell unwanted or unused gift cards for cash. This is an excellent option if you want some extra money without selling an actual physical item.
There you have it! Our top tips on how to avoid wasting another gift card. If you’re looking to sell a gift card or have any more questions about gift cards in general, feel free to reach out to us. We’re always happy to help!