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Unredeemed gift cards dwarf credit- and debit-card fraud

Vladimir Cole

We should have included "give cash not gift cards" as one of our gamer-focused resolutions for 2007. See, most companies that we buy our games from offer gift cards. Problem is, of the $80 billion in gift cards purchased last year, experts estimate that $8 billion (some 10%) will never be redeemed -- an amount that dwarfs credit- and debit-card fraud together, according to the New York Times. Heck, Best Buy alone earned $16 million from unredeemed gift cards last year, the Times said.

Go redeem those cards. $16 million buys a lot of game loot. Don't let it rot.

[Photo credit: Flickr user XoXoAndy&LebronXoXo, who has accumulated $365 worth of the cards.]

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