Don’t Pass Up Free Money. 19% Don’t Redeem Gift Cards….

Last week, I got an email from Netflix.  Back in 2008, I purchased a gift certificate for a friend who never used it.  Netflix, eight years later, has credited my account with the amount that was never used.

While, I’m excited I get some money back, it made me wonder what happened.  After doing a little research, I discovered 19% of all gift cards that are given have never been redeemed.  That’s a great deal for the retailer who, basically, gets that money for nothing.  It is, however, a shame that we are not taking advantage of a gift that was given.

After seeing that stat, I decided to have a little look around my wallet, my husband’s and our general drawer of junk (who doesn’t have at least one of those??).  Here’s what I found:

  • In my wallet, I found 3 Starbuck’s gift cards that had random amounts still active.  That totaled $12.65
  • I found a Target gift card from two years ago that still has $19.22
  • I found a Lowe’s gift card in my husband’s wallet that he didn’t remember having at all.  It’s $25 and he’s so excited now. . . .
  • I found a $25 iTunes Gift Card I had purchased for our kid . ..and then promptly forgot about.

So, today is the day to go through your stuff and save yourself some money this holiday.  Use those cards on yourself or use them to buy some holiday gifts and save yourself some money.  If you have a full gift card that you think you won’t use, I’ll be you know someone who will!  Re-gifting is never a bad thing if it is something the other party would love.

If you want to save a little more, we have some gift cards available at Get My PERKS that can save you up to 30%.  Go check them out!

11cc424Katherine Ide is director of Product Monetization at Entercom radio and the director of Get My PERKS.  When she is not blogging or coming up with new ways to save you money, she is a wife, a step-mom to a great 15-year-old kid and a soon-to-be mom of another kid (due March 2017).  Email her at perkssuport@entercom.com.

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2 thoughts on “Don’t Pass Up Free Money. 19% Don’t Redeem Gift Cards….

  1. Hello Katherine. I work at US Postal Service. You would not believe the amount of gift cards that go through the mail, come out of the envelopes during processing and end up being discarded. 100’s, just in our area. I have a few things to mention for person’s purchasing them and sending as gifts…1. Gift cards should not be sent in cards or “regular” card or letter envelopes. Due to automated processing of mail, oftentimes, the card does not bend, thus being shot out of the envelope and into the machine. This then ends up in “loose mail items”. Also, something I learned working in this department, write down the # on the gift card on the receipt. Do not mail the card and receipt together. If not received, you can go to the merchant with your receipt and the #on the back of the card. The merchant can cancel that card and provide another. These lost cards to account for some of the 19% never redeemed. I am shocked and saddened by the number we cannot return to the owner. Happy Holidays! MJ

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