Do any major retailers expire gift cards?

No. Walmart, Target, Costco, Amazon, Best Buy, and Home Depot all confirm that gift cards never expire and do not lose value over time, regardless of any printed expiration date.

Can I get cash back for an unused gift card balance?

Only in certain states and usually with conditions. Walmart honors cash redemption in 14 states when your balance drops below that state's threshold. Costco honors it in 8 states when your balance is under $5. Target, Amazon, Best Buy, and Home Depot do not offer cash redemption.

What do I need to replace a lost gift card?

Walmart, Best Buy, and Costco will replace lost cards if you have your original receipt or proof of purchase. Amazon may help you recover funds if you can verify the card was not used by you. Target and Home Depot do not offer replacement for lost cards.

Are there monthly or annual fees on gift cards?

No. None of these six retailers charge monthly maintenance fees or annual fees against gift card balances. The balance stays the same unless you spend it.

Which retailer has the best gift card policy overall?

It depends on your needs. Walmart is most generous on cash redemption if you live in one of 14 states. Best Buy and Walmart offer the best lost card replacement. Home Depot offers simplicity and no fees but no lost card replacement. Target, Amazon, and Costco fall in the middle on most measures.

Gift Card Policies Compared: Expiry, Refunds and Lost Cards 2026

Policy details verified on August 18, 2026. Store policies can change - check the retailer’s site before you rely on them.

Gift Card Policy Comparison Table

Retailer	Expiration	Cash Redemption	Lost Card Replacement	Fees
Walmart gift card policy	Never expire	14 states if balance under threshold	Yes, with original receipt	None
Costco gift card policy	Never expire	8 states if balance under $5	Yes, with proof of purchase	None
Target gift card policy	Never expire	No cash redemption	Not stated in policy	None
Amazon gift card policy	Never expire	No cash redemption	May recover funds with verification	None
Best Buy gift card policy	Never expire	No cash redemption	Yes, with proof of purchase	None
Home Depot gift card policy	Never expire	No cash redemption	No replacement offered	None

Expiration: All Major Retailers Never Expire Gift Cards

The good news is consistent across the board: no major US retailer expires gift cards. Walmart gift card policy explicitly states that cards have no deadline or time limit. Target gift card policy confirms this even when an expiration date is printed on the physical card. Amazon gift card policy covers gift cards issued after October 1, 2005, which includes all practical cases in 2026. Costco gift card policy, Best Buy gift card policy, and Home Depot gift card policy all offer indefinite validity with no fees attached.

Cash Refunds and State-Mandated Redemption

This is where policies diverge most. Federal and state law in some jurisdictions require retailers to redeem low gift card balances for cash, and retailers vary in how many states have triggered these laws.

Most Generous: Walmart

Walmart gift card policy honors cash redemption in 14 states and Puerto Rico when your balance drops below the threshold set by that state’s law. Those states are California, Colorado, Connecticut, Hawaii, Massachusetts, Maine, Missouri, New Jersey, New York, Oregon, Puerto Rico, Rhode Island, Vermont, and Washington. If you live in one of these places, you can request cash at a Walmart store or by contacting gift card customer service. Outside these states, Walmart will not convert unused balances to cash.

Limited: Costco

Costco gift card policy honors cash back in only eight states, and only when your balance falls below $5. Those states are Colorado, Hawaii, Maine, Massachusetts, Montana, New Jersey, Oregon, and Washington. In all other states, your only option is to spend the balance at Costco.

No Cash Redemption: Target, Amazon, Best Buy, Home Depot

Target gift card policy does not allow cash redemption under any circumstances. Amazon gift card policy does not permit cash refunds, resale, or transfer to another account. Best Buy gift card policy explicitly states no refunds for cash and prohibits using gift cards to purchase other gift cards or prepaid cards. Home Depot gift card policy does not offer cash refunds for remaining balances.

Lost and Stolen Card Replacement

If your gift card goes missing, replacement options matter, especially for higher balances. Walmart gift card policy and Best Buy gift card policy both allow replacement if you have your original receipt. Costco gift card policy requires proof of purchase for replacement.

Amazon gift card policy does not explicitly offer replacement, though you may be able to recover funds if you can verify the card was not used by you. Home Depot gift card policy does not offer replacement for lost cards at all. Target gift card policy does not address lost card replacement in its published terms.

Monthly Fees and Maintenance Charges

None of the six retailers charge monthly fees or annual maintenance charges against gift card balances. Best Buy gift card policy explicitly confirms no monthly or annual fees. Home Depot gift card policy states the same. All other retailers follow the same practice.

Key Takeaways

All six retailers offer gift cards that never expire, so time is not a factor in your decision.
If you live in California, Colorado, Connecticut, Hawaii, Massachusetts, Maine, Missouri, New Jersey, New York, Oregon, Rhode Island, Vermont, or Washington, Walmart gift card policy gives you the best shot at cashing out a low balance.
For lost card protection, Walmart, Best Buy, and Costco offer replacements with proof of purchase, while Home Depot does not.
Avoid holding large balances on Home Depot gift card policy unless you are confident you will spend it all, since there is no way to recover a lost card or redeem a small remainder for cash.