How Long Do Gift Cards Stay Active?
Gift cards are a popular way to give and receive presents, but have you ever wondered how long they stay active? Do they expire, and if so, how can you avoid losing the funds on your gift card? In this article, we’ll explore the answers to these questions and provide you with some valuable tips on how to keep your gift cards active and in use.
Federal Law Offers Protections
Before we dive into the specifics, it’s essential to understand that federal law provides some protections for gift card holders. The Credit CARD Act of 2009, which went into effect in 2010, requires that gift cards issued by banks or payment card networks (such as Visa or Mastercard) do not expire for at least five years from the date of activation. This means that even if you don’t use your gift card within that timeframe, the funds will still be available when you do decide to use it.
Bank Gift Cards
Bank gift cards, which carry the logo of a payment card network, are also subject to Credit CARD Act protections. These cards can be used wherever the brand is accepted, and the funds will not expire for at least five years from the date of activation.
Retailer Gift Cards
Retailer gift cards, on the other hand, are not subject to the same federal protections. These cards are issued by individual retailers and may have different expiration dates or fees associated with them. It’s essential to check the terms and conditions of your retailer gift card to understand how long it will stay active.
Inactivity Fees
Some gift cards may have inactivity fees, which are charges that are applied when the card is not used for a certain period of time. These fees can range from a few dollars to several dollars per month, depending on the issuer. To avoid inactivity fees, it’s essential to use your gift card regularly or transfer the funds to a new card.
Walmart Gift Cards
Walmart gift cards are a great example of a retailer gift card that does not expire. According to Walmart’s website, the funds on a Walmart gift card will not expire, and there are no fees associated with the card.
Visa Gift Cards
Visa gift cards, on the other hand, do have some restrictions. While the funds on a Visa gift card will not expire for at least five years from the date of activation, an inactivity fee may be incurred if the card is not used within a certain period of time (typically around a year). To avoid these fees, it’s essential to use your Visa gift card regularly or transfer the funds to a new card.
Electronic Gift Cards
Electronic gift cards, such as those issued by online retailers, may have different expiration dates or fees associated with them. It’s essential to check the terms and conditions of your electronic gift card to understand how long it will stay active.
Selling or Trading Gift Cards
If you have a gift card that you no longer want or need, you can sell or trade it for cash or another gift card. There are several websites and apps that allow you to do this, such as CardCash and Raise. These sites will give you a quote for your gift card based on its remaining balance and the demand for the card.
Tips for Keeping Your Gift Card Active
Here are some tips for keeping your gift card active and in use:
- Use your gift card regularly to avoid inactivity fees
- Check the terms and conditions of your gift card to understand how long it will stay active
- Transfer the funds to a new card if you don’t plan to use the old one
- Sell or trade your gift card if you no longer want or need it
- Consider using a gift card with no expiration date or fees, such as a Walmart gift card
Conclusion
In conclusion, the length of time a gift card stays active depends on the type of card and the issuer. Bank gift cards and Visa gift cards are subject to federal protections and will not expire for at least five years from the date of activation. Retailer gift cards, on the other hand, may have different expiration dates or fees associated with them. By understanding the terms and conditions of your gift card and using it regularly, you can keep your gift card active and in use for as long as possible.
Table: Gift Card Expiration Dates and Fees
| Gift Card Type | Expiration Date | Fees |
|---|---|---|
| Bank Gift Card | At least 5 years from activation | None |
| Visa Gift Card | At least 5 years from activation | Inactivity fee (typically around $1-2 per month) |
| Retailer Gift Card | Varies by issuer | Varies by issuer |
| Walmart Gift Card | No expiration date | No fees |
Bullets: Gift Card Tips
• Use your gift card regularly to avoid inactivity fees
• Check the terms and conditions of your gift card to understand how long it will stay active
• Transfer the funds to a new card if you don’t plan to use the old one
• Sell or trade your gift card if you no longer want or need it
• Consider using a gift card with no expiration date or fees, such as a Walmart gift card