Americans are collectively holding onto a staggering $27 billion in unused gift cards, according to recent estimates.
That’s right, this means billions of dollars in free money tucked away in wallets, junk drawers, and glove compartments just waiting to be spent.
The average person has about $244 in unspent balances, a figure that highlights both the popularity of gift cards and the curious tendency to let them languish.
So, why are so many of us sitting on this untapped resource, and what does it say about our habits?
Surveys consistently show that more than two in five U.S. adults (around 43%) have at least one unused gift card, voucher, or store credit.
This isn’t pocket change either; the total value rivals the GDP of some small countries.
Major retailers like Walmart and Starbucks reportedly have over $1 billion each in unredeemed gift card balances on their books.
Gift cards, often given as holiday or birthday presents, are the second most popular gift item after clothing, yet a significant chunk of their value never gets claimed.
Check those wallets, purses and junk drawers! Visit our friends over at Card Cash for more info on how to redeem unused cards for cash or trade for better deals!
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