Here’s how much money Americans have collected in unspent gift cards
Do you have some unused gift cards still laying around from Christmas? You probably aren’t the only one.
According to a new survey of more than 12,000 Americans, nearly two-thirds have at least one unspent gift card. The survey, from online financial advisory services provider Credit Summit, found at least half of those surveyed admitted losing a gift card before they used it.
A majority of survey respondents said their unredeemed gift cards were worth $200 or less. Credit Summit reports there is as much as $21 billion worth of unused or lost gift cards.
Gift cards don’t expire until at least five years from the date it was activated, according to federal law.