For the last six months, I’ve been really busy. Things are settling down a bit, so I decided to check my wallet for a couple of gift cards I thought I might have. Luckily, I used them and saved $10.58 on a purchase.
More than $100 billion is spent on gift cards annually, with 93 percent of U.S. consumers purchasing or receiving a gift card each year. Consumers spend an average of $213 annually on gift cards.
Be sure to keep track of your gift cards so they aren’t money wasted.
The holidays are coming up. The Better Business Bureau offers these tips for buying credit cards:
- Buy from sources you know and trust. Avoid buying gift cards from online auction sites, because the cards may be counterfeit or may have been obtained fraudulently.
- Read the fine print before you buy. Is there a fee to buy the card? If you buy a card by phone or online, are there shipping and handling fees? If you don’t like the terms and conditions, buy elsewhere. See whether any fees will be deducted from the card after you purchase it.
- Inspect the card before you buy it. Verify that none of the protective stickers have been removed. Make sure that the material on the back of the card hasn’t been scratched off to reveal a PIN number. Scammers may use this information to track the card and take the money off of it after it’s purchased. Report any damaged cards to the store selling the cards.
- Give the recipient your original receipt so they can verify the card’s purchase in case it’s lost or stolen.
