A significant portion of these gift cards, worth billions of Dollars, end up unused due to neglect or forgetfulness. Despite a federal law dictating a five-year expiry limit on gift cards, many consumers are still losing out due to inactivity fees and store closures.
In fact, a recent survey found that 47 percent of US adults have at least one unspent gift card, averaging 187 Dollars per person. Consumers are advised to use their cards promptly or consider selling them on platforms like card cash or raise. Unclaimed funds from unused cards may be recoverable through state unclaimed property programs, which return approximately 3 billion Dollars annually to consumers.
