8 ways to keep the value in your gift cards
Only 6% of people will fail to use their plastic pre-charged gift cards this year - down from 10% in 2009.
The recession, as well as more people getting used to receiving and redeeming gift cards, means more people are taking advantage of cash pre-charged into a gift card.
But some are still letting their gift become useless…
Here’s 8 clever ways to make sure you get the full use of your gift cards:
1. Keep them together. If you don’t have enough room in your wallet (or envisage it becoming like George’s engorged wallet on one episode of Seinfeld), keep them in an envelope stuck on the inside of your Lever Arch file for bills so you see them regularly (what? you don’t have a filing system for your invoices?!) – it may be too tempting for someone else if you sticky-taped them to your fridge door.
2. Register them. Websites such as LeverageCard or PlasticJungle let you register your PINs and track balances and expiry dates.
3. Read the fine print. If Aunt Jessica bought yours online on eBay, it’s possible you have less time left on it than you think. If you received pre-charged Visa gift card, that little sucker will ebb away the total with nasty little fees every month until you use it or it’s used up – whichever comes first.
4. Schedule it. Why not use it up to buy gifts for Valentine’s Day? For your father’s birthday? Or around your next payday if you want to add a little extra to the amount? Or the next time you’ll be passing by that mall/shop/restaurant?
5. Trade it. No sense being stuck with a gift card for a store you don’t like. GiftCardRescue.com, SwapAGift.com and PlasticJungle.com could be handy if you get an unsuitable gift card.
6. Give low-value cards. Just as people hate breaking a $100 bill, but have no problem frittering away 5 x $20 bills, buy a number of the same gift card in low denominations. Many people like to save them and “dole” them out per purchase. And plus, some establishments don’t give change…
7. Take the time to give specific store cards for stuff they like. Not only does this show you took at least a little time in finding a store that they like, but it gets around the awkward pre-charged Visa cards that drop in value as time goes on as the fees erode the total amount.
8. Donate the leftovers. If you really don’t think you can bear the embarrassment of cashing in the say, remaining $2.17 left on your gift card (good heavens, they might think you were a cheapskate!) you can always donate it. GiftCardGiver.com stockpiles gift cards with tiny amounts into higher value cards that are then donated to the needy.
Tags: bargain-hunting, birthday gifts, gift cards, Valentines Day