Americans have $21 billion in unspent gift cards, survey says

Americans have at least $21 billion in unspent gift cards.
Americans have at least $21 billion in unspent gift cards.(CNN)
Published: Feb. 23, 2023 at 4:10 PM CST
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(CNN) – Have some unused gift cards still laying around from Christmas? Apparently, you aren’t the only one.

According to a new survey of more than 1,200 Americans, nearly two-thirds of Americans have at least one unspent gift card.

The survey, from online financial advisory services provider Credit Summit, found at least half of those surveyed admitted to losing a gift card before they used it.

A majority of survey respondents said their unredeemed gift cards were worth $200 or less.

Credit Summit reports there is as much as $21 billion worth of unused or lost gift cards.

Gift cards don’t expire until at least five years from the date it was activated, according to federal law.

If you have unused or unwanted gift cards, there are several websites on which you can sell, trade or donate them.