Under federal law, a gift card can’t expire for five years from the time it was purchased or from the last time someone added money to it. Some state laws require an even longer period.
(AP) Americans were 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 […]
Gift cards get lost or forgotten, or recipients hang on to them for a special occasion. In a July survey, the consumer finance company Bankrate found that 47% of U.S. adults had at least one unspent gift card or voucher with an average value of $187. That’s a total of $23 billion.
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