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Economy

“Almost half of Americans are holding on to $21 billion in unused gift cards, store credits”

“Even as many people struggle to stretch their incomes amid high inflation, it turns out there’s money they already have they’re probably overlooking — unused gift cards.

To that point, 47% of people currently have at least one unused gift card, voucher or store credit, according to a new survey from CreditCards.com.

The average unused amount is $175 per person, up from $116 last year. For the entire U.S. adult population, that may add up to $21 billion, CreditCards.com estimates…

When broken down by household income, those with between $80,000 and $99,999 were most likely to have unused gift cards, with 57%, at an average value of $227.

Respondents with incomes of more than $100,000 were next, at 56%, and an average value of $265.

Those with lower earnings were less likely to let the sums go unused. Still, 41% of those with household incomes under $50,000 reported having unused gift cards, as well as 53% of those with between $50,000 and $79,999…”

https://www.cnbc.com/2022/08/22/unspent-gift-cards-climb-to-average-of-175-per-person.html

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