GIzmodo reported two years ago that Americans have thrown away $41B in unused gift cards since 2005. That’s more than the entire gross national product of some countries, such as Ghana. Sales of gift cards have risen from $80 billion in 2007 to a forecasted $118 billion this year, a 47% increase in five years, according to a new report by advisory company CEB TowerGroup.
One of my favorite Lifehacker suggestions is to apply either the remaining balance or the entire balance of pre-paid cards to Amazon by purchasing an Amazon gift card, and then redeeming it. Genius.
Gone are the days of finding the card years later and wondering if there’s any value left on it, or worse, buying $46 worth of stuff with a pre-paid $50 card and never using the remaining $4. Amazon credits never expire and you know you’re going to buy stuff on their site sooner or later. Amazon gift cards can range from 15 cents to $2,000.