Gift Card Dos and Don'ts this Christmas Season

The Christmas gifts are opened and once again, you have a fistful of gift cards. But which cards should you keep and which should you cash in this holiday season?

According to financial information provider WalletHub, despite gift cards being the most popular type of present for the ninth consecutive year, nearly $1 billion in gift card value went unused in 2015.

Just in time for the Christmas holiday, WalletHub released its list of 2016’s “Best Gift Cards,” which includes the average resale values for several leading retailers’ cards.

For 2016, the best gift cards available for free shipping ranked by WalletHub included:

• Target
• Netflix
• Walmart
• Amazon
• Best Buy
• Costco
• T.J. Maxx
• iTunes
• Starbucks
• Google Play

Topping the list of gift cards most wanted for resale were Nike, Walmart, Best Buy, Safeway and Costco. Read the full list here and check out the top 10 average resale values for $100 gift cards below.

1. Nike - $93.66
2. Walmart - $83.94
3. Best Buy - $83.12
4. Safeway - $83.04
5. Costco - $82.67
6. Target - $81.88
7. Shell - $81.87
8. Netflix - $81.75
9. Apple - $81.67
10. Ticketmaster - $81.31

When you give a gift, you want to make sure it is enjoyed, but even gift cards can wind up forgotten.

"Given that your gift card strategy can make or break the holiday season, particularly the budget component, we compiled a list of 10 great tips for gift card success," Wallethub said. And remember to shop wisely!

Tips for buying gift cards:

• Look for a discount.
• Avoid Card-Network Gift Cards.
• Don't confuse Gift Cards with Prepaid Cards.
• Resale and re-gifting is always an option.
• When in doubt, give cash instead.
• Tap into un-redeemed value.
• Buy gift cards with rewards points.
• E-gift cards are great in a time crunch.
• Avoid using gift cards as an excuse to overspend.

Wallethub Courtesy Photo