If your gift cards haven’t already burned a hole in your pocket, you may be wondering what to do with them after the holidays.
Maybe you got a gift card you didn’t like. Maybe you got one for a store that’s not near you. Maybe you got a gift card from a store that is now going out of business. Or maybe you’re so frugal you don’t know how to spend it.
Here are a few ideas for spending those gift cards:
1) Know the terms of your gift card. Make sure there are no fees (in some states these types of fees are illegal) or expiration dates.
2) Check to make sure your store is still accepting gift cards. If it isn’t ask what you can do about it. For example, KB Toys is no longer accepting gift cards, but Toys R Us will offer you a discount if you show them your KB Toys gift card. Not a great deal by any means, but better than nothing.
3) Swap the card with a friend, sell it on eBay, or re-gift it (just make sure it won’t expire before they use it), if you don’t like the store. If you don’t want to re-gift the actual card, you can use it to buy gifts for others.
4) See if you can use your gift to buy another gift card. Some stores sell a variety of gift cards to other stores. You may be able to do a “trade” of sorts. Check with the retailer to see what conditions are on your card.
5) Use your gift card to buy items on clearance. You can make that gift card go so much further if you shop end-of-season clearance. Don’t forget to check the store’s website. Sometimes the website has items that can’t be found in stores, and at great prices, too. Use gift cards to treat yourself to something practical (think kitchen gadgets or tools) and it will be a gift that will be remembered for a long time.
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