Here's what happens to the billions in gift cards that go unused every year
CBSN
Gift cards can make for the perfect Christmas stocking stuffer — assuming people remember to use them.
Americans are expected to spend nearly $30 billion on gift cards this holiday season, according to the National Retail Federation. Restaurant gift cards are the most popular, making up one-third of those sales. Most of those gift cards will be redeemed. Paytronix, which tracks restaurant gift card sales, says around 70% of gift cards are used within six months.
But many cards — tens of billions of dollars' worth — wind up forgotten or otherwise unused. That's when the life of a gift card gets more complicated, with expiration dates or inactivity fees that can vary by state. Here's what to know about the gift cards you're giving — or getting.
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