Don’t forget the gift cards you received during the holidays
LANSING, Mich. (WILX) — It’s time to start checking your purses and wallets. If you received a gift card during the holidays, it may still be waiting to be spent.
You probably received a gift card or two over the holidays. If you haven’t used it yet, you’re not alone.
The Mercator Advisory Group said that 1-2% of all gift cards go unused each year, which amounts to billions of dollars. Don’t let this happen to you, get out all your gift cards and commit to using them by a certain date.
Put a reminder on your smartphone, so you don’t forget.
Not all gift cards are right for you – if it’s for a store you’ll never go to, you can gift it again to someone who will. You can even donate it to charity or give it to a first responder as a thank you for what they’ve done during the pandemic.
You can also trade or sell it. Just be careful selling online, scams are everywhere. Avoid selling it to a stranger or through Craigslist or Facebook.
If you want to use an online site, make sure it has a money-back guarantee after transaction.
If you plan to use your gift card, know this, under the federal Credit Card Accountability and Disclosure Act of 2009, gift cards cannot expire for five years – although issuers can charge an inactivity fee if the card has not been used. within 12 months.
Continued: Monitor your portfolio
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