According to the
Google Play Promotional Balance Terms Page, the $25 credit is good 'till 2013.
(Not 2012!)
From Section C:
Receipt of Google Play promotional balance for activation of select new Nexus 7 tablet(s)
Quote:
4. Redeemed balances that remain unused in your Google Play account will expire on September 30, 2013.
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Both sources come from Google, which one is right?!?!