Step 1: Gather all your gift cards and sort them
First, look for unused gift cards in your purse, wallet, sock drawers, and desk drawers and get them all out. Don’t forget to look for unused e-gift cards on your email and social media accounts and your phone or laptop. This is the easy part. Next, group them into categories. Some common gift card categories are: restaurant gift cards, store gift cards, general-purpose gift cards (like Mastercard and Visa® gift cards), and prepaid rewards cards. The ones that don’t fall under any of these categories (like your Lyft or Uber gift cards) can be grouped in an “others” category.
Step 2: Check the expiration dates and balances on all gift cards
Next, create a worksheet and record the name, expiration date, and balance of every gift card you have. If you’re not sure of the balance or expiration date, call the number listed on the back of the card to make inquiries. If the cards have any usage restrictions, add that information to the sheet as well in a separate column. The idea is that all the possible details about every card you have should be listed on this sheet.
Step 3: Create a plan to use each card you have
The last step is to create a plan to use every one of your gift cards. Now, we are not suggesting you make a mad dash to the nearest store to cash out your gift card! But, decide when and how you can use each of your gift cards. If you don’t think you’ll be able to use a certain gift card before its expiry, consider giving it to a friend or family member. You can also sell the gift card or re-gift it. If you don’t feel comfortable giving someone a gift card, buy them something with the gift card.
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