By Cynthia Grau/WJEZ News

While many people are given gift cards for birthdays and holidays, instead of saving them for a rainy day, State Treasurer Michael Frerichs urges people to spend them.

Frerichs said that, under the Illinois Consumer Fraud Act, most cards sold in Illinois that are usable only at a specific retailer or restaurant are not allowed to incur inactivity fees.

There are two types of gift cards – retail and bank cards, and while retail cards cannot incur inactivity fees, bank cards, which carry payment networks, such as American Express, MasterCard or Visa, can, over time, charge inactivity fees.

Frerichs also said, instead of saving them, set aside the cash equivalent for the rainy day you’re saving for and instead use the gift cards immediately.

For more information, visit illinoistreasurer.gov.