As inflation rises, your gift cards are becoming less valuable (via CNBCMakeIt)
, dishware prices had risen by 6.1% over the last year, while men's suits and coats had risen 22.3% in that same time.
But with year-over-year inflation up 8.6% since last June, one thing is clear: Inflation is eating away at your gift card's spending power, and will continue to do so until you use what's left. Retailers will likelyAnother reason to redeem unused gift cards: some may expire or have inactivity fees that kick in after 12 months of non-use.
Rules for gift card expiry and inactivity fees vary by state. To learn more about the rules in your state, theThe first step in using up your gift cards is knowing what you have. With most cards, you can verify the remaining balance using either a toll-free phone number or website printed on the card.
To keep track of the verified balances, write them out on the face of each card using a black marker. Then, it's just a matter of shopping, either in-store or online, depending on the retailer. However, it's not always easy to spend gift cards at retailers that don't offer anything you want to buy. In that case, you can try selling your gift cards on reseller sites like
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