AMARILLO -- Gifters gave billions of dollars in gift cards in 2013. A large percentage, of course, came during the holiday season.
Some gift card tips:
- Some May Expire
- There May Be Inactivity Fees
- Threat of Bankruptcy
- Use Before You Lose
Dont let the gift card go unused.
Many people give gift cards when they are not sure what type of gift the recipient will enjoy. But if the cards, which are money waiting to be spent, do not get used any more than the gift they were intended to replace, its still money wasted.
Gift cards are intimidating, after all you may never be quite sure how much money is on the card, which can be embarrassing when you go to spend it. If you have a gift card that is partially used, the value left on it could be minimal and can be seen as more of a hassle to use than what its worth.
A Billion Dollar Business.
But consider this: the gift card industry is a billion dollar business - annually. That means billions of dollars were spent purchasing gift cards last year alone. Thats money already in your pocket. Do you have your share of it in a drawer somewhere not being used? If you leave gift cards lying around thinking you will spend them someday. You may run into problems when you do.
Some gift cards can lose value with fees for non use or other restrictions. The longer it goes unspent, the higher this risk becomes. Some gift cards have expirations dates. Designate a time to spend your gift cards then call grandma and tell her all about the great gift she bought you!