Gift Cards

3 Reasons Why You Should Not Hoard Your Gift Cards

Unused Amazon 2

Gift cards are fast dominating the world as some of us may have noticed. This is true, not only because they are alternatives for cash, but also because they are the easiest thing you can think of if you want to gift someone anything, especially if you have no idea what the person might like. In fact, it has been recorded that gift cards account for 68 per cent of birthday gifts. Do you know what this means? It means that almost 3 out of every 4 birthday gifts are gift cards.

As often as gift cards are gifted out or acquired, a lot of them go unused. One of the benefits of using a gift card is that it doesn’t expire and this is why there is a high probability that you might forget about your gift card or even lose them. Let’s say you’re moving into a new apartment, while moving, your gift cards might be misplaced or oh! You had your car cleaned and you left them in your car, anything could have happened that made you not use your card eventually. In 2019, a whopping $3 billion dollars in gift card went unused. In fact, 1 out of 3 people have received a gift card and didn’t eventually use that gift card. Again, do you know what it means? When your gift cards are not used, it means that you are giving the retailers free money.

Due to the pandemic, a lot of stores are not operating physically due to COVID-19 restrictions and the “hoarding” has only gotten worse. You shouldn’t hoard your gift cards because whether you believe it or not, if you’ re not using them, you’re definitely hoarding them! If you have a gift card that you won’t use and you do not want to give it to someone who will use it, you should consider selling it for cash.W

3 reasons why you should not hoard your gift cards

  • As stated earlier, because “most” gift cards do not expire, people often overlook the need to use them before they lose them. Well, some gift cards expire and this is why you should use them (before they expire)
  • Another reason why you should use your gift card is because when the business goes bankrupt and you have a gift card, your gift card is worthless because the gift card owner (you) is considered an “unsecured” creditor. It’s not their fault. You had your chance to use the gift card but you didn’t!
  • It will depreciate in value. The value of your gift card when you first had it might have gone down from when you eventually thought you should use it.

Finally, if you have a gift card that you have absolutely no need for, you can trade it for cash. Where? Here on Prestmit! We offer an innovative service that allows users to buy gift cards and pay in local currency or bitcoins. We are equipped with modern security tools to help secure your account at all times. These include 2FA authentication and also a centralized security architecture that secures all components within the platform. If you are looking for the best rates for Gift Cards in Nigeria, you can be rest assured that you will find that on Prestmit.

What are you waiting for?

Happy trading!