Don't Waste Your Money: Gift Card Caution - News, Weather, Sports, Toledo, OH

Don't Waste Your Money: Gift Card Caution

(Don't Waste Your Money) -

If you received a gift card for Christmas, make sure you use them.

As much as one third of gift cards never get redeemed, which makes a fortune to the business selling them.              

A report published by Daily Finance says there are several downsides of buying gift cards including:

  • the card could have been bought for a company the recipient rarely shops at
  • inactivity fees that eat away at the card's value
  • the recipient may lose the card or forgets they have the card

However, the biggest risk in buying a gift card is the chance the business could go out of business before the card gets used.

Daily Finance warns buying gift cards from new businesses or ones that are no longer popular could make the life of the card last longer than the business.

It's always important to read the fine print to make sure the recipient can easily use the card.

Don't Waste Your Money is a registered trademark of the EW Scripps Co.

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