$21 billion in gift cards go unused, survey says

Tuesday, February 18, 2020
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$21 billion worth of gift cards go unused, survey says

We get them as Christmas, birthday and graduation gifts.

Gift cards are an easy to show you care, but a new survey shows many people don't actually care to use them.

Bankrate.com found that there are about 21 billion dollars worth of gift cards, airline vouchers and store credits go unused.

Millennials lead the pack leaving cards and credits unused at a rate of 55 percent.

Millennials are followed by Gen Z at 50 percent and Baby Boomers at 48 percent. Gen Z beats every other generation at losing gift cards.

Those with higher incomes are more likely to let gift cards or credits expire.

Sixty-four percent of Americans said they expect to use the cards eventually, but just over a third say they probably won't.

According to the survey, the average value of unused gift cards and credits is $167 per person.