Wednesday, December 30, 2009

Gift Cards

Did you receive gift cards for Christmas? Over 55% of people this Christmas did. Nearly 5 Billion dollars of gift cards will go unused. Here are some tips to protect yourself and the hard earned cash of the person giving you the gift card.
1. Use your gift card quickly. The longer you wait, the less likely you will be to use the card. Carry it with you. Gift cards are often misplaced or lost.
2. Check expiration dates and inactivity fees. Some cards charge up to $4.95 a month for "inactivity" fees. New laws come into effect in August, 2010 that prohibit this practice, but are not in place now.
3. Write down the card number. You may be able to cancel the card or get a replacement card if you lose your current one.
4. Keep track of card balances. An easy way to do this is to put a Post It note on the card and deduct the amount each time you use the card.
5. If you are sure you're not going to use the card, you can sell it. Try,, and You can also redeem gift cards for credit at

1 comment:

DBCooper1969 said...

Love the ideas on gift cards. Just wanted to and one of my own practices. As I can often be a bit scatter brained, I could easily lose the post-it with the balance on it. This is why I just use a magic marker on the front of the card...As far as I am concerned, the balance is much more important than the looks of the card, so I don't mind marking it up. Just thought I would thow in my 2 cents...-Scott