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Getting the most out of your gift cards | Moms

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Getting the most out of your gift cards

SACRAMENTO - A survey from the National Retail Federation finds that $41 billion in gift cards have not been redeemed since 2005.

It's estimated that $100 billion in gift cards were purchased this year, but consumer advocates say about 2 to 5 percent of them are never redeemed.

The survey also showed an estimated one third of gift card purchases exceed the value of the card, which is great for vendors.  But that means two-thirds of transactions leave some spare cash on the card. When that happens, some consumers tuck them away and forget about them.

To get the most out of your gift card and not let them go to waste, here are a few tips you may not know: 

-- Under California state law, any gift card with a balance under $10 can be redeemed for cash from the merchant. 

-- If you get a card for a store or restaurant you don't patronize, you can sell them for a fee at number of websites such as www.cardavenue.com, www.swapagift.com and www.plasticjungle.com

-- You can donate your card to charity at www.donatemycard.com

California law also specifies that gift cards never expire.


Auburn / Grass Valley Businesses