Billions Will be Left on Unused Gift Cards This Year

<img src="https://s3.us-east-2.amazonaws.com/dcr-apis/wp_contents/uploads/DCR-ADMIN/AdobeStock_508118371.jpeg" alt="undefined" style="height: auto;width: auto"/> This is useful consumer advice from <a href="https://pirg.org/california/" target="_blank">California Public Interest Research Group (CALPIRG)</a> that I want to share with you. They say we leave up to $5 billion on unused gift cards.  “It’s tough to beat the convenience of a gift card, but consumers should be aware that about 2-5% of gift cards end up going unused,” says Jon Fox, consumer advocate with CALPIRG. “In California, that money stays with the retailers and is essentially a $5 billion gift from consumers every year. Mr. Fox says California has some of the toughest laws for regulating gift cards. “For example, most gift cards are prohibited from having expiration dates or service fees. In California, the consumer, not the retailer, controls when and how a gift card will be redeemed.” This an important point: California laws require merchants to reimburse consumers for the remainder of gift cards with a balance of less than $10. “Consumers often don’t know that the $2 balance left on their Starbucks card is as good as cash, but they let it go to waste,” says Mr. Fox. “If it’s less than $10, simply ask for the remainder on your gift card back in cash. CALPIRG suggests selling or trading unused gift cards, or even donating them to a charity that will accept them. <a href="https://www.diamondcertified.org/" target="_self">Use Diamond Certified Resource to find top rated companies.</a>  Related Articles <a href="https://www.diamondcertified.org/Guide/Savvy-Consumer/" target="_self">Your Guide to Being a Savvy Consumer</a> <a href="https://www.diamondcertified.org/find-expert-advice/" target="_self">Get Expert Advice From Owners of Top</a> <a href="https://www.diamondcertified.org/find-expert-advice/" target="_self">Rated Local Companies</a> <a href="https://www.diamondcertified.org/membership/" target="_self">Become a Diamond Certified Preferred Member (Always Free)</a> <a href="https://www.diamondcertified.org/find-top-rated-companies/hub/ca/san-francisco-bay-area/" target="_self">Find Top Rated Companies in the San Francisco Bay Area</a>