The Cost Of: Study finds people have around $244 in unused gift cards
"Whether it is a gift card, credit card points, Airline miles, hotel points these should be the fun part of finance," says a senior industry analyst.
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Going through that junk drawer may have you finding money.
Just in New York state the comptroller recovered $21 million in unused gift cards in 2024. State officials say when gift cards are not used for five years, the balances are turned over to the state.
A Bankrate study found that the $244 is the average amount people have in unused gift cards.
Ted Rossman, Bankrate senior industry analyst, says, "whether it is a gift card, credit card points, Airline miles, hotel points these should be the fun part of finance, this is getting something for nothing, so it is a really good New Year's resolution for people."
So, check your house and find out what you could be missing out on.
