By Craig Wong
If you end up with a present card you don’t suppose you’re going to make use of, consultants say you’ve choices.
Natasha Macmillan, director of on a regular basis banking at Ratehub.ca, says we’ve all been in that state of affairs the place somebody doesn’t know you, however nonetheless needs to get you one thing and offers you a present card for a retailer that you simply most likely received’t use.
If that’s the case, she mentioned you’ve choices.
“You would possibly be capable to use the present card for a gift for a good friend or a member of the family. That can really provide help to get monetary savings whereas utilizing the present card on the similar time,” she mentioned.
Macmillan additionally mentioned you may look to resell a card via a platform reminiscent of Fb Market, Kijiji or different web sites specializing in shopping for and reselling present playing cards.
“You do must watch out with among the scams and issues on the market, but it surely’s additionally useful and that method you may get money for the present card and even change it for one more present card,” she mentioned.
When you’re contemplating that possibility, she mentioned to all the time ask for the money or e-transfer earlier than handing over the present card.
In response to Accenture’s 2024 Canadian vacation purchasing survey, 64% of shoppers acquired present playing cards final yr, every of whom acquired 4 on common.
However regardless of being a well-liked alternative, the report mentioned four-in-10 recipients didn’t redeem the complete steadiness of the cardboard from the vacation season final yr. That resulted in an unspent complete present card steadiness of $136 on common per shopper.
The Accenture report famous 31% didn’t use their present card as a result of it was unique to only some manufacturers or shops and 27% couldn’t discover gadgets to buy.
If re-gifting or promoting don’t enchantment to you, some charities will settle for present playing cards as a donation. The principles round what sort of present card a charity would possibly settle for can fluctuate and never all charities will settle for all present playing cards, but when they do, and relying on the quantity, it may imply a charitable donation tax receipt that may assist scale back your invoice come tax time.
Mark Aston, government director at Covenant Home Toronto, which helps younger people who find themselves experiencing homelessness and trafficking, mentioned the vacations might be powerful for a teenager who’s remoted and doesn’t have the assist of household and associates that many people depend on.
A present card will help a teenager purchase themselves a deal with that they’d not in any other case be capable to afford.
“Serving to to normalize the expertise across the vacation season is actually useful and impactful and to that finish, present playing cards might be actually useful,” Aston mentioned.
He added that Covenant Home is open to accepting every kind of present playing cards as donations that it might probably go on to these in want to assist with the price of residing and provide a bit cheer.
Reward playing cards to grocers, drugstores and low retailers will help with the day-to-day necessities, however he mentioned present playing cards for much less apparent treats like film tickets are additionally welcome.
“We’re extraordinarily appreciative of any present card donations,” he mentioned.
In the meantime, Macmillan mentioned donating a present card that isn’t going for use is usually a win-win.
“The present card doesn’t go to waste and also you get that tax receipt in return, and it does provide help to get monetary savings on the finish of the day,” she mentioned.
This report by The Canadian Press was first printed Dec. 26, 2024.
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Final modified: December 27, 2024