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Holiday gift return rush: The Do's and Don'ts to get the most out of your exchange

Posted at 3:52 PM, Dec 26, 2016
and last updated 2016-12-26 17:43:56-05

More than 7 billion presents were gifted, now the rush to return and use up gift cards is underway.

About a quarter of the returns last year, according to NerdWallet, were clothes, while fragrances and jewelry was the least returned item.

Stores like Macy's and Nordstrom will give you store credit for a returned gift. If you have the card used to purchase the gift, those stores will provide a full refund back to the card.

At Target, depending on how the gift was purchased, you can get cash back.

Most stores require a receipt, and undamaged packaging with tags to make an exchange.

One of the most common presents is the gift card, and returning one you don't want from a specific store can be rough.

Stores that will give you the most for your money are Nike, Walmart, Best Buy, Safeway and Costco. They refund gift cards up to 94%.

T-J Maxx and iTunes only give you 68% and 60% respectively.

If you want to try and get more from your gift card, you can go online to websites like Cardpool, CardCash, or Raise to sell your gift card for a small price.

When it comes to returning gifts you or a loved one bought online, some physical stores will accept your return, most will make you pay to ship it back.

Experts suggest always looking at the fine print, to get the most out of your return.