Gift Card Warnings

With the changing economy, bankruptcy is just one of the things you should consider when thinking about giving gift cards this holiday season. Many stores seem to be headed towards foreclosure or at the very best filing for bankruptcy protection. Although many of the bankruptcy attorneys are saying the risk of loss for you is minimum, but do you really want the hassle of fighting with a store or totally losing the cards value if the store closes?

Here are some other things to help keep your gift card experience a positive one:

Read the fine print before you buy. If you do not like the terms and conditions, buy elsewhere.

When buying a card, ask about expiration dates and fees. This information may appear on the card itself, on the accompanying sleeve or envelope, or on the issuer’s Web site. If you do not see it, ask for it. Make sure that whatever the salesperson tells you is in writing. Is there an activation fee or a fee on the balance over time?

Check on purchase exceptions. For example, can you use a store-specific gift card at both the physical store and the store’s Web site? Can an “all-purpose” card really be used to buy groceries or gasoline?

Treat gift cards like cash. If your card is lost or stolen, report it to the issuer immediately. You may be out the entire amount on the card. Some issuers will not replace the cards, but others will replace them. It is important to understand if there is a replacement fee associated with getting a new card.

If you are giving gift cards this year add a little advice along with it, use the cards as soon as you can.

Happy Holidays

Gift Cards From:

Overstock.com

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