The Overlooked Billions Spent and Lost in Unused Gift Cards

Don’t let yours go untouched, gathering dust forever forgotten

According to The New York Post, Americans were projected to spend a WHOPPING $30 billion towards gift cards during the 2023 holiday season, with restaurants being the most popular choice. While around 70% are redeemed within six months, many remain unspent.

Unwanted gift cards can be sold on resale sites, but usually at a rate of 70–80 cents per dollar. Some states require retailers to work with unclaimed property programs to return unspent funds to consumers. According to a July survey by Bankrate, the total value of unused gift cards/vouchers in the U.S. amounted to a STAGGERING $23 billion.

Starbucks alone reported $212 million in extra revenue from unspent cards in 2022.

Federal law prevents expiration for five years, but some states extend it further. Using the cards promptly is recommended to avoid inactivity fees and risk of loss if a store closes.

So, spend those cards now!