Gift cards make great stocking stuffers — just as long as you don’t stuff them in a drawer and forget about them after the holidays.
Americans are expected to spend nearly $30 billion on gift cards this holiday season, according to the National Retail Federation. Restaurant gift cards are the most popular, making up one-third of those sales.
Most of those gift cards will be redeemed. Paytronix, which tracks restaurant gift card sales, says around 70% of gift cards are used within six months.
But many cards — tens of billions of dollars’ worth — wind up forgotten or otherwise unused. That’s when the life of a gift card gets more complicated, with expiration dates or inactivity fees that can vary by state.
Why buy gift card ? just gift cash.
I’m with you… but, sometimes you can get gift cards cheaper than what they are worth. Like, pay $40 for a $50 gift card to Lowes. If you know a person likes a place it’s a way to get more bang for your buck.
Reward points if using a credit card to purchase.
Also, some stores in the states at least, like Kroger, give their own points for fuel.
Also cash feels much less personal when giving a gift.
“I know you like X, so here’s a gift card to experience more of X” feels more thoughtful than “here’s some green cotton, do whatever”.
I’d much rather just get the green cotton
Except most people give gift cards to places I don’t actually shop at.
This is the one.
Grandma sends you a $150 gift card to Brookshires but you live on the West Coast, a few thousand miles from the nearest.