Tis the season for gift giving and spreading holiday cheer! Most of us have people to buy for but don’t know quite what they like or better yet, their style. What most people resort to are gift cards, while great, almost 70% of gift card recipients do NOT use their gift cards and they end up going unused and some even expire! I found these results referencing to the reasons why they go unused: over half (58 percent) of gift card recipients indicated not having the time; followed by not finding anything they wanted (35 percent); and (32 percent) of gift card recipients have unused cards from last holiday season did not use their gift card because they forgot about it.

Still thinking gift cards? Consumer reports has comes up with these steps to assure your making a good gift card choice:

• THINK twice about bank cards. While bank cards generally can be used at more retailers than store cards, they’re often loaded with fees and restrictions.

• CHECK the merchant’s prices. It’s annoying to get a $25 gift card for a store that sells little at that price. When selecting a store-issued card, find out how much things generally cost and get a card with at least that value.

• INCLUDE the receipt. Some issuers require the original receipt to replace a lost, stolen, or damaged card.

For gift card recipients, these are some of the tips that Consumer Reports offers:

• REGISTER IT. Some cards must be registered with the issuer, especially if the card is used for purchases online or by phone.

• SPEND IT quickly. Use the card as soon as possible, especially if it expires or has a monthly maintenance fee.

• SPEND IT to the last penny. If the card balance gets so low that there’s nothing to buy, ask a merchant to do a split-tender transaction. That involves using the remaining card balance for part of the transaction and another form of payment for the rest.

• HOLD ON TO IT. Don’t throw out the card when the balance is zero. Some merchants require it for returns.

Bookmark It

Hide Sites