It is common for consumers to reserve gift cards to use when bonuses are offered for shopping in specific stores selling them such as grocery and drugstores.
Many people end up stockpilling partially used gift cards regardless of why they purchase gift cards.
To avoid that, here are a few important tips to help you maximize your gift cards.
Your Gift Cards Should Never Waste
As simple as this may sound, consumers, leave a good number of gift card value unused each year. Companies retain this huge unused sum in exchange for nothing at all. Like cash, Vanilla gift balance and every other gift cards should be used to their fullest.
There are approaches to help you to fully exhaust the value of the gift card even if you have a cent remaining on a gift card.
You May Be Able To Exchange Your Gift Card For Cash
It doesn’t matter how low the cash balance on your gift card is, you can exchange your gift card in 11 states for the remaining cash balance. This is often the case with a balance of under $10. However, inform yourself about the rules that exist in your state.
Most Gift Cards Expire
You read that right, most gift cards come with expiration dates. Some of them come with an inactivity fee. Know the Study the expiration and inactivity fees stated on your gift card.
Understand that Two Types of Gift Cards Exist
There are two types of gift cards : open-loop (such as MasterCard, Visa, or American Express gift card; and are accepted wherever regular credit cards are used) and closed loop Closed-loop gift card, on the other hand, are designed to be used at a precise service provider, store or a restaurant.