How to Regift or Sell Unused Gift Cards

The Gift Card Glut

• 💡 Gift cards are a popular present, with the industry generating $214 billion annually.
• ⚠️ However, a significant number of these cards go unused, leading to a "gift card glut."
• 📊 According to Inovio, one in five people in the US possess an unused gift card, and 47% worldwide admit to letting them collect dust.
• 💰 This results in an estimated $21 billion in unused gift cards, with an average balance of $187 per person left on the table.

Strategies for Unused Gift Cards

• 🔄 You can buy, sell, or trade unwanted gift cards.
• 💸 By selling a gift card you don't want, you can get cash or buy a different gift card for less than its face value (e.g., a $100 card for $80).
• 🎁 Regifting is another option for cards you won't use.
• 💖 Donating gift cards to charities is a wonderful way to help others, and these donations may be tax-deductible.

Tips for Managing Gift Cards

• ✍️ When you receive a gift card, write the initials of the giver on it to avoid accidentally regifting it to the same person.
• 📸 Take a picture of both the front and back of the gift card and save it in your camera roll.
• 📱 This allows you to easily access and scan the gift card at a store without needing the physical card, preventing them from being forgotten or expiring.
• ⏳ This also helps avoid cards expiring, as seen with one card that expired the day before being discovered.