Are you left with a stack of gift cards after the holidays every year? You may have some old gift cards in your wallet that are now just taking up space.
If you consider recycling your gift cards from the past, you might wonder, “Do gift cards expire?” The good news is that while most buy and sell gift cards through secondary markets, they’re usable for years to come.
Please keep reading to learn more about the gift card industry, why it is popular, and the best way to sell it.
The Gift Card Laws in the US
Gift card laws in the US are meant to promote consumer protection and ensure fair market competition. Typically, these laws restrict card issuers from charging hidden fees, impose expiration dates to increase liquidation of unused balances, and even outlaw material changes to previously purchased gift cards.
Generally speaking, your unused gift cards are still usable, but it depends on state law. Some states have specific laws limiting the duration a particular gift card can remain active, while the card is valid indefinitely in other states. Additionally, some jurisdictions have laws that immediately expire gift cards older than a specific time.
When Do Gift Cards Expire?
Most gift cards have yet to expire, but fees may be applied once a card isn’t used for an extended period. Even if the physical card expires, you may still be able to use any remaining funds on the card.
Consider calling the customer service number of the gift card issuer or visiting a store that accepts the gift card. This way, you’ll find out whether the funds are still available. Sometimes, you may need the card number or PIN to check the balance.
Rules Around Renewal and Replacement of Gift Cards
Depending on the gift card provider, you may have to pay a fee to renew or replace it. Some cards require renewing them yearly, while others may not expire for at least five years. Additionally, if the gift card is lost or stolen, you may be able to get a replacement card, but the process and cost will vary depending on the provider.
For gift cards like online streaming, you may have to sign into your account and link the gift card to receive the services. Each provider has unique rules, so it’s essential to read the card’s terms and conditions before using it.
Tips To Avoid Losing out on Unused Gift Card Funds
Gift cards are prone to be lost or forgotten, resulting in lost funds and benefits for the user. To avoid this, you should remember to keep your gift cards safe and take appropriate steps to not lose out on unused gift card funds.
If you still have an old gift card, you should check the card’s balance and get the remaining funds to use. You can sell gift cards online or through a gift card exchange program to get the remaining funds.
Users should read the terms and conditions of the card to ensure they are not forfeiting any funds.
Make Use of Your Gift Cards Today
Gift cards can provide a hassle-free shopping experience. By understanding the rules and laws surrounding gift cards and knowing when do gift cards expire, you can make the most of it.
If you are unsure of its terms and conditions, contact the issuer and make sure your money isn’t going to waste. What are you waiting for? Make use of your gift cards today!
Was this article helpful? Check out our blog page for more articles that can interest you.
