Tricky Gift Cards

By: Rosie Barresi Email
By: Rosie Barresi Email

It's never the wrong size and it's never the wrong color. They're gift cards and they've grown wildly popular over the last few holiday seasons.

Gift cards in a way represent the gift of shopping, in that, you can do even more of it after the holidays are over.

But some gift cards can be tricky and maybe even a little deceiving.

Experts say if you got a gift card for Christmas, use it fast otherwise you could be losing out.

They say many gift cards come with limitations.

Some expire after a short period of time, while others depreciate slowly over time.

Many department stores report earnings every year from gift cards that were never redeemed.

Best Buy for example reported a $43 million profit this year from un-redeemed gift cards.

It's estimated that two out of every three shoppers gave gift cards this holiday season and for the first time ever, gift cards are expected to outsell toys & games, music & movies and even jewelry.

Gift card sales are expected to jump more than 30% this holiday season to a record $25 billion.

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