National Gift Card Day: Tips to cash in on unused gift cards

PHILADELPHIA (WPVI) -- Americans are holding an estimated $23 billion in unused gift cards.

At least 43% of people have at least one gift card sitting in a wallet or drawer, with the average person carrying $244 in unspent funds.

"The whole day was created just so as almost like a public service announcement, remember to use your gift cards," said Tracy Tilson.

Tilson is the founder of National Use Your Gift Card Day. It is recognized each year on the third Saturday in January, which means this year it is on Saturday, January 17.

She said it was designed as a reminder for people to use the day to gather all their cards and put them to good use, all while making it fun and meaningful.

"Take a photo of what you bought so that whoever gave it to you because they put thought and intention into it," she said. "Send back a thank you note, take a picture. I'm enjoying it. I'm doing this. This is what I just got."

Tracy also has some tips for gift card holders.

Treat gift cards like cash. Seeing them as real money helps prioritize using them, instead of "saving them for later, " which is when people tend to lose them or forget about them.

Also, create one designated place for your cards.

Swap or sell gift cards you don't want. That's how you can make beaucoup bucks.

There are apps and websites like Gift Card Granny, CardCash and GiftCash that help you sell unwanted cards.

And while you're at it, she said to check for January sales and promotions since this is one of the best months for discounts.

Finally, make a plan and be intentional in deciding where, when, and how to spend your gift card.

If you are feeling generous, you can also donate your unused gift cards to charities, schools, and other organizations. You can do that at CharityGiftCertificates.org.