If you’ve received a prepaid incentive card powered by Giftbit from a company as a reward or incentive, here’s what you need to know to use it successfully.
Each card has a clearly stated expiration date. After this date:
The card will no longer work.
Any remaining balance will no longer be available.
Funds cannot be recovered after expiration.
To make sure you get full value from your card, use it before the expiration date.
Incentive Prepaid Cards Have Expiration Dates
Not all prepaid cards are the same. You may have purchased a Visa or Mastercard gift card in a store, or received one as a gift. These are considered consumer gift cards, which generally do not expire or have long expiration periods—often five years or more. These cards are subject to the CARD Act of 2010 in the U.S. or the FCAC in Canada, which provide protections for consumers.
The card you’ve received is different. It’s part of an incentive program and is considered a Loyalty, Award, and Promotional (LAP) card, or as we call them, incentive prepaid cards.
These cards were issued to you as a reward and were not purchased by you, so they are subject to different rules. Typically, these cards expire between 3 and 12 months from the date they are delivered.
While you might find information online stating that prepaid cards must be valid for at least five years, that rule only applies to consumer gift cards sold to the general public. Your card is a B2B LAP card, issued as a reward by a company. Because it is not a consumer gift card, different rules apply, including the shorter expiration period.
Tips to Maximize Your Card
Check the expiration date as soon as you receive your card.
Plan your purchases so you can use the full balance.
Track your balance online if your card provider offers a portal.