Are your gift cards gathering dust? This analyst has several ways you can get the most out of them

ATLANTA — It’s hard to believe, but more than half of all Americans have a stack of unused gift cards that have not been cashed in.

So what can you do? Are they expired? Bankrate.com senior Analyst Ted Rossman says most of the time they don’t.

It’s becoming a trend. You get gift cards that sit in your wallet or in a cabinet drawer, and for years go unused.

But Rossman told Channel 2′s Karyn Greer that people need to cash them in.

“The main point, I think, is you have to use them. These aren’t doing you any good if they’re just gathering dust,” Rossman said. “We’re our own worst enemies. Most of the time these gift cards don’t expire. Or if they do, it’s many years into the future.”

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So what can we do to be more deliberate about spending that thoughtful gift from grandma?

“Even if you don’t like the store, put a note on your calendar. Maybe you can buy something for a friend’s birthday or a relative for an upcoming holiday or other occasions. You’re going to get the best value. Of course, if you use it,” Rossman said.

You can also regift them or sell them online.

“There are retail gift card resale sites, sites like CardCash and Raise,” Rossman said. “You could probably get 70% to 80% of what the card is worth. It sure beats nothing.”

About 40% of Americans say they are using gift cards more aggressively because of the state of the economy.

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