47% Of Americans Have A Total of $21 Billion

But the recently revealed findings of a study show a different story in the US.

A new survey by online financial marketplace CreditCards.com found that 47% of Americans have an unused gift card, voucher, or store credit, amounting to $21 billion nationwide.

The findings were set after the portal commissioned YouGov plc, Internet-based market research, and data analytics firm, to conduct a survey of 2,372 adults about gift card use in July 2022.

According to the report, a person has an average of $175 in unspent gift cards, vouchers, and store credits.

Survey results found that young people are wasting more unused credit, with 52% of Millennials and 51% of Gen Zs having at least one unused gift card.

On average, Millennials have $226 of credit and Gen Zs are $149.On the other hand, only 43% of Gen X's have an unused gift card and 42% of Baby Boomers have one, as the findings suggest.

Gen X has about $180 in unused gift cards and Boomers have $133.The survey by the financial portal also found that the more money a person makes, the more unused gift cards there are.

The results showed that 41% of Americans with an annual household income of less than $50,000 have gift cards to use, an average of $128.

Meanwhile, 57% of people with incomes of $80,000-$99,999 have unused cards, which average out at $227.

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