If you have any unspent gift cards, you’re not alone. There’s a new report out that says that almost two-thirds of American consumers have at least one unspent gift card. And at least half of those are lost before the user gets to spend it. The report also said that there is as much as $21 BILLION dollars of unspent money in unused and lost gift cards.
I’m ashamed to say that I am definitely one of those people who haven’t spend their gift cards. I have two right now in my purse! And whenever a do any decluttering, I always find one or two in a drawer somewhere. I know. I know.
The report, by Credit Summit, is based on a December 2022 survey of 1,200 consumers aged 16 and older. “Gift cards are extremely popular and almost everyone enjoys getting them. But many people leave them sitting in a drawer to redeem on a special occasion. Use them, don’t save them,” said Rebecca Stumpf, an editor with Credit Summit.
A separate study on gift card usage found the average amount on unused gift cards last year was $175 per person, up from $116 in 2021.
Made me wonder what the most popular gift cards are. These results are based on a study by WalletHub, and here are the top 10.