Gift cards are often the go-to option for gift-givers who are unsure of what to buy, providing recipients with the freedom to choose something they truly desire. However, there are instances when gift cards may not align with the recipient’s preferences. If you find yourself in possession of a gift card that you are unlikely to use, there are several alternatives to consider.
- Regift the card: Natasha Macmillan, director of everyday banking at Ratebub.ca, suggests using the gift card to purchase a present for a friend or family member. This way, you can save money while ensuring the gift card is not wasted.
- Resell the card: Platforms like Facebook Marketplace and Kijiji offer opportunities to sell unwanted gift cards. Macmillan advises caution against scams and suggests requesting cash or e-transfer before transferring the gift card.
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Donate the card to charity: Some charities, like Covenant House Toronto, accept gift cards as donations. These cards can assist individuals in need and provide them with a source of joy during challenging times.
Despite the popularity of gift cards, some recipients fail to use the full balance, resulting in an average unspent total balance of $136 per consumer. Reasons for non-redemption include limited brand options and difficulty finding items to purchase.
Charitable donations can lead to tax deductions, making it a beneficial option for both the donor and the recipient. Covenant House Toronto welcomes all types of gift card donations, ranging from essential items to unexpected treats like movie tickets.
In conclusion, donating unused gift cards is a win-win situation. It prevents waste, helps those in need, and may even result in a tax benefit for the donor. By considering alternative options for unwanted gift cards, you can make a positive impact this holiday season.
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