Gift card burning a hole in your pocket?
Chances are, you probably received a piece of the $26 billion in gift cards given out this holiday season.
Gift cards for consumer electronics were among the most popular gifts this year. The cards are desirable because they’re convenient and let recipients get the things they really want.
But people don’t always take full advantage of them. An estimated $45 billion in gift cards has gone unredeemed since 2005, according to CardHub.
Here are a few tips for making sure you get the most out of your gift cards:
- Check for deals at your favorite stores (Best Buy has extended hours and great deals this week).
- Get familiar with the card’s terms and conditions (Best Buy gift cards have no expiration date and no maintenance fees).
- Treat them like cash, meaning keep track of them and store them somewhere safe. (Best Buy card balances can be checked in stores, online or by calling the number on the back of the card).
- Use them quickly so they don’t get misplaced.
- Hold on to the original receipt in case of theft.