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Stock impact report

How to turn unused gift cards into cash [Yahoo! Finance]

Mastercard Incorporated (MA) 
Last mastercard incorporated earnings: 4/29 08:00 am Check Earnings Report
Company Research Source: Yahoo! Finance
But you don't have to leave that money in the drawer. A report by Credit Summit says 60% of Americans have at least one unused gift card. The National Retail Federation reports Americans will spend $28.6 billion on gift cards this year, with shoppers buying an average of three of them for an average of $51 each. SUGGESTED: Holiday return policy changes: Some stores shortening windows Restaurant gift cards make up one-third. The rest are usually for shopping. But only 70% of gift cards get spent. Credit Summit found many people save them for something special. But with 2.7% inflation, saving them may not be a good idea. Prices could go up, and you could get less for your card. There's also a chance the store could go out of business, leaving you with a gift card that's worthless. SUGGESTED: Tips for reversing health insurance claim denials A 2010 federal law requires that gift cards cannot expire for five years. However, a gift card from Visa or Mastercard can accrue Show less Read more
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