Shoppers planning summer wardrobes are being urged to check for forgotten gift cards before making new purchases. Research from credit card firm thimbl.com reveals that high street giants ASOS and Next are holding onto a combined £125 million in unredeemed gift cards.
Company accounts show ASOS has £11.1 million tied to unspent vouchers, while Next reports a staggering £114.6 million. Consumer specialists warn that many households may have gift cards lying dormant in inboxes, handbags, or drawers from Christmas, birthdays, or past refunds.
Joe Lytwyn, finance expert at thimbl.com, explains that shoppers often mentally separate gift cards from cash, making them easier to overlook. 'Vouchers are one of the easiest forms of forgotten money,' he said. 'Taking a few minutes to search through emails and drawers could genuinely save families money this summer.'
He advises searching inboxes for terms like 'gift card', 'voucher', and 'store credit', and checking old wallets and cashback apps. Many digital vouchers are also stored within retailer apps or online accounts that are no longer frequently accessed. Some consumers mistakenly believe cards have expired when they may still be usable.
Experts recommend saving digital vouchers in a dedicated phone album or email folder. Shoppers should also use gift cards strategically during seasonal promotions to maximise value. If a retailer goes bust, retrieving funds becomes harder; paying by credit card for purchases over £100 may offer protection under Section 75 of the Consumer Credit Act.
'A lot of people don't think of vouchers as part of their household finances, but they absolutely are,' Lytwyn added. 'Forgotten balances can be one of the quickest and easiest ways to reduce spending without cutting back on summer plans.'
