Why You Should Not Stack Up Your Gift Cards

Why You Should Not Stack Up Your Gift Cards

Gift cards are frequently given or received, but many of them go unused. Let’s say you’re moving into a new apartment and your gift cards get lost in the process. You got your car cleaned and left your belongings in it; anything may have happened because you do not use your card at some point. A staggering $3 billion in gift cards were left unused in 2019. One out of every three people has gotten a gift card and never used it. You’re handing the business free money when you don’t utilise your gift card.

You shouldn’t keep your gift cards in your wallet because, believe it or not, if you don’t use them, you’re hoarding them! If you have gift cards that you aren’t going to use and don’t want to give them to people who will, then explore selling them for cash. During the lockdown, many stores shut down physically due to COVID-19 limitations, and the stacking up of gift cards has only become worse.

And as some of us may have observed, gift cards are quickly taking over the world. This is true not just because they are cash alternatives, but also because they are the simplest gift you can think of, especially if you have no idea what the recipient could prefer. Gift cards make for 67% of birthday gifts, according to statistics. Do you have any idea what this means? Gift cards account for nearly three out of every four birthday presents.

Why You Should Not Stack Up Your Gift Cards

  1. The business might shut down:
    Several businesses shut down within 5 years of existence, due to several reasons such as finances or anything else that might occur. And if this is the case the gift card will as well become useless to you. And they are not at fault, you had the opportunity to use the gift card, but you chose not to! You don’t have to be concerned about well-known businesses like Walmart or Amazon, for example, they are not going anywhere. However, if a retailer begins to close locations, it may be good to use your gift cards while you still have the opportunity.
  2. It may expire:
    This is less of an issue than it was years ago: the Card Act of 2010 mandated that all gift cards have a five-year expiration date. So you don’t have to hurry to use it right away if there’s nothing you want to buy in the store. Even so, if you put it away in a drawer or the back of your wallet for a year, you’re likely to forget about it. Because most gift cards do not expire, as previously noted, people frequently neglect the need to utilise them before they expire. Some gift cards do, however, expire, which is why you should utilise them before they expire.
  3. It will lose value over time:
    Your gift card’s value may have depreciated between when you first received it and when you finally decided to use it. For instance, if you were gifted a Steam gift card in 2020, and you decide to keep it till 2024, the worth would have dropped due to the exchange rate or other economic factors.

Wrapping Up

If you receive a gift card for your birthday, put it to good use straight away. You can also sell it for cash if you don’t need it longer. Where? NOSH is the place to be! We provide a unique service that allows users to purchase gift cards and get paid (naira or cedis). If you’re looking for the best and most reliable gift card rates in Nigeria, you can be confident that you’ll find them on NOSH.