Umm it's right there. itunes>downloads.
Where exactly? In downloads the page is blank except for the "Redeem" button in the top left corner. Nothing else on the screen, certainly no balance info.
I think I thought of the problem.
Before you had a balance and it was listed. Now you don't, so no balance is listed. This is why "redeem" is the only option.
I have a balance and it is right where it always is, in the itunes application, under "Downloads".
Are you all who say "Yeah it used to be there but now it's not" sure you have a balance left?
Here's the lame answer I got from iTunes support.
Dear Ken,
I understand that you would like a way to check the balance of iTunes gift cards from your iPod touch. I know how eager you must be to resolve this. My name is Justine and I will be happy to help. If you are connect to Wi-Fi you can check your iTunes gift card balance by logging into your iTunes account.
Thank you for being an iTunes Store customer.
Sincerely,
Justine
iTunes Store Customer Support