NASHVILLE, Tenn. (WTVF) — If you're like a lot of people, you probably got a gift card for Christmas...and if you're like a lot of people, you probably still have gift cards you got last Christmas or even before.
The National Retail Federation says there are tens of billions of dollars worth of gift cards out there just waiting to be used. But you don't want to wait too long to use them, because a lot of them have expiration dates.
Under federal law, you have five years from the time of purchase to use gift cards. Some states like New York have made it even longer.
Folks in New York have nine years. But here in Tennessee, we have five.
Some companies like Visa or Mastercard have inactivity fees that accrue if the card is not used for a year.
If the gift card is never used, about 19 states require companies to work with unclaimed property programs to return the money.
You can check missingmoney.com to see if you have any unclaimed money.
Our viewers are the best! When Hannah McDonald highlighted the plight of Serenity Sumler, so many of you immediately stepped up. Serenity stopped to help a driver after spotting a wreck and was hit by another car, resulting in terrible injuries. Without the funds to pay for physical therapy, she was at a loss. Because of the kindness of others - she now can rehab and get back to school. Best of luck to her as she trains to become a chef!
- Carrie Sharp
