How to Make the Most of Your Holiday Gift Cards
Now that the holidays are over, we will assume that you are now the proud owner of at least one new gift card.
Gift cards are popular during the holidays because they are small and easy to travel with, and they ensure that the recipient of the gift can choose what they really want (or fit in) and not get stuck with the gift.
That being said, billions of dollars in gift cards go unused every year because people forget to use them, lose them before they buy them back, or let the gift card sit idle until it expires.
If you received a gift card this holiday season, here are some of the best ways to make sure it doesn’t go to waste:
Use your gift cards ASAP
Most gift cards end up wasted because the recipient either loses them or forgets that they have them. The easiest way to combat this is to simply plan to use this holiday gift card as soon as possible.
For example, if you received a gift card for a local restaurant, select an evening away from the calendar. If you have a gift card for your local store, browse the site and decide what you want to spend it on. Generally, the sooner you redeem gift cards, the better.
Every day you don’t use it, you are essentially giving the retailer an interest-free loan .
Exchange this gift card for cash
If you live in (or travel to) certain states, shops are required to give you cash in exchange for a gift card. In all cases, there must be a certain amount of money on the balance, so you still have to use it to buy.
For example, in California, you can exchange a gift card for cash if your balance is less than $ 10. In Colorado, Montana, Maine, and Washington, you can do the same with less than $ 5 on your balance. Here is a complete list of states where you can redeem this card for cash .
Buy, sell or exchange your card online
If you don’t think you are ever going to use a gift card, there are several options for how to buy, sell, or redeem for something else. Giftah, Cardavenue, and Gift Cards Again sites offer online marketplaces where you can try to trade or sell what you have.
Some Coinstar kiosks may also purchase your gift cards; however, they definitely won’t offer you full retail for them. In most cases, you can expect to receive 60 to 80% of the value of the gift card.
United will also allow you to redeem your gift card for miles .
Donate your gift card to charity
If you don’t need or don’t need a gift card, donating it to charity can be a great way to put it to good use. Organizations such as Goodwill, Plywood, and Works of Life accept gift cards as donations. Other charities in your area may accept the gift card depending on the gift card. For example, a Target Gift Card can be used by a local charity to purchase supplies.