Gift cards rank among the most popular holiday gifts, but consumer experts warn of a risk many buyers overlook: the business closing before the card is used. That's exactly what happened to Nancy Bertline, who held onto a restaurant gift card for nearly six months, hoping to use it for an anniversary dinner, only to learn the restaurant had permanently shut down, leaving her with a worthless $100 card.
According to Capital One Shopping, 43% of U.S. adults have at least one unused gift card, with an average of $244 sitting unspent, and 12% have had a business close before they could redeem one. Experts say the simple fix is to spend gift cards quickly rather than saving them for a special occasion.
