You Might Still Have Time to Return Unwanted Gifts

Your credit card might have features that can help

If you have holiday gifts that you want to return, you still may have a small window of opportunity. And there’s no need to feel guilty about unloading unwanted presents. According to the National Retail Federation, last year 68.6% of consumers returned their holiday gifts.

Some retailers have very strict return policies, but did you know that certain credit cards will enable you to extend a product’s return date up to 90 days? In fact, all of the major credit card networks, including American Express, Discover, MasterCard, and Visa offer a return extension to their customers. This extension will allow you to return items that a retailer refuses to accept.

CardHub recently came out with its 2015 Credit Card Return Extension Report, which lists the credit cards that offer this perk. However, if you want to return jewelry, you might just be out of luck. It is reported that jewelry is most commonly excluded from credit card extension programs.

Key report highlights:

  • Roughly 51% of consumer credit cards (with the exception of co-branded cards) feature a return extension program.
  • About 5.5% of returns are the result of return fraud.
  • 31% of survey respondents say they rarely or never include a gift receipt with the presents they give.

For more on this topic, see One in Five Can’t Live without Credit Cards.

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