Do Not Delay in Spending Those Gift Cards

A gift card isn’t cash and terms apply, so spend the money as soon as possible.

After receiving a gift card, don't wait to use it. RYO Alexandre/Shutterstock

As we head into a new year, you may be settling in for a well-deserved rest from all the busyness of the holiday season. But not so fast. Before you haul all the boxes and torn-apart wrappings to the trash, take a quick inventory of the gift cards you and your family just received. The sad truth is that of the $308 billion Americans spent in gift card sales for Christmas 2024, about $27 billion of this amount will remain unredeemed! My guess is that many of them inadvertently will get thrown out with the trash. Funny how that happens. But I digress.

Now that you have all these gift cards, there are some things you need to know about them and how best to use them.

Do Not Delay

Someone could not decide what to get you, so they gave you the gift card. It is your responsibility to get out there and spend it.

Not Cash Equivalent

A gift card is not cash; it is store credit. It will not work the same as cash. For example, let’s say you zip right down to Best Electronics to redeem your $100 gift card. You buy the latest gizmo you’ve had your heart set on. It’s on sale for $79 with tax. So do you get $21 in change? No way. You will get your gift card back with $21 credit.