Americans are sitting on $23 billion in unused gift cards

American consumers are sitting on a gold mine.

An estimated $23 billion worth of gift cards remain unused in the United States, or an average of $244 per person, according to National Use Your Gift Card Day, an annual financial awareness campaign, taking place on January 17.

If you’ve got a gift card you haven’t used, it’s time to find it and spend it, Tracy Tilson, founder of the campaign, noted in a press release Monday. U.S. shoppers were projected to spend around $29 billion on gift cards during the 2025 holiday season.

"With the rush of the holidays behind us, January is the perfect time to reset, take inventory, and put your gift cards to use," Tilson said. "These cards were meant to be enjoyed. We want everyone to start the new year without leaving free money behind in a drawer, a wallet, or an inbox."

To use your gift cards, you’ve got to find them first, the campaign noted. As such, their game plan for consumers is a simple three-step process:

“Use the gift card and enjoy something that starts your year on a happy - and financially smart - note,” the campaign said. “No matter how you spend it, redeeming a gift card honors the thoughtfulness of the person who gave it and ensures you begin the new year without leaving money behind.”

If consumers find lost gift cards and don’t plan on using them because they’re not interested in the retailer on the card, they can donate the balance to a variety of nonprofit organizations, including St. Jude Children’s Research Hospital, GiftCards4Change, and Donate Your Card.

The campaign encourages retailers to spur gift card use by pairing charitable causes with redemptions. For example, businesses can partner with charities connected with National Use Your Gift Card Day and donate unused cards to the charities. Second, the campaign suggests that companies match gift card redemptions on National Use Your Gift Card Day with charity donations.

“Often customers receive a gift card they may not need or want, so let’s make it easy for them to use it for good,” the campaign said. “Your business can celebrate National Use Your Gift Card Day by creating a community event that will capture the hearts of your customers and the local media.”