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What to do with those stupid Visa gift cards

Visa gift cards can be a real risk because they can lose value.  First, they can be lost, and in that case the card has zero value to you.  Just as bad, I can forget about the card in a drawer or wallet, and soon enough it expires and loses all of its value.

And even if I do manage to use a gift card, it can end up with some weird remaining balance like $3.31, and again I forget about it and its value decays to zero.  MY LOSS AGAIN.  SAD.

The same problem applied to gift cards branded as MasterCard, Discover, or Amex.

The other day I received a product rebate in the form of a $100 gift card, but I didn't want to lose that money. And so I figured out a way to immediately convert my physical gift card into something else of equal value.

Here's how it works:

Now when I receive a gift card I immediately log into Amazon and buy an Amazon gift card with 100% of the gift card's value.  This way I move all of the gift card money into an account that I will definitely spend quickly, and I eliminate all the liabilities and risks of a physical gift card.

Sadly, it doesn't work the same way with store-centric gift cards.  In that case, I have a different strategy: I immediately shop. After all, if a store goes out of business, there is a good change that the card will become valueless.  The best policy is to spend it as soon as possible.

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