I have a $50 gift card and I read somewhere that you should spend them after the holidays because prices go down, but I read somewhere else that there are fees if you wait too long, or damage it.
I received it on August 11, 2006
What should I do?
2006-12-10 07:18:29 · 8 answers · asked by user 1 in Business & Finance ➔ Other - Business & Finance
Though I have not read any bills, I have read over the past couple years that there were laws passed on various levels regulating how they are allowed to expire gift cards. There has also been industry agreements reached on the subject.
The result is, most of them do not expire. Though you should read the back of the card, and/or the website for the company, in most cases the card begins to be charged a regular "service fee" if you have not used part of it within a couple years. This is so they can take old, outstanding cards off their accounting books. I've found most are $3 a year after 3 years of non-use. I would definitely spend it after xmas, unless you use it to buy gifts now, since prices do go down after the holidays.
The reason they are so cooperative is that companies make a fortune off these cards - besides the incident rate of people losing them or forgetting about them, the company has the money in advance - so they earn interest on the money already paid out. So, they want people to hold onto their cards as long as possible before spending them! (It's like if your friend had given you a check for your birthday - he would love it if you waited as long as possible to cash it!)
2006-12-10 07:30:24 · answer #1 · answered by Edward M 2 · 1⤊ 1⤋
There are fee's if you keep them for too long. If you call the number on the back of the card it will explain all the fee's. The fee's depreciate the value of the gift card. Like it is a 50 gift card if you keep it for 1 year and do not spend any money on it they are going to charge prolly a few dollars so then it will only be worth 47 dollars. Just call the number on the back!
2006-12-10 07:23:17 · answer #2 · answered by me. 4 · 2⤊ 0⤋
Some gift cards do charge fees if you wait too long to use it - and I wouldn't be surprised if fees are charged for the card being damaged. Call the number of the back of the card to see what the balance of the gift card is. You may even be able to reach a cust. rep and ask what their policy is regarding these fees. Although there are great after-Xmas sales, I say buy what you want with it - if you wait too long - the item you really want may be gone.
2006-12-10 09:11:22 · answer #3 · answered by wanda 1 · 0⤊ 0⤋
gasoline Card. The Visa present taking part in cards contain alot of stipulations and that i've got confidence considered one of them is they are in a position to't be used for gasoline until there over one hundred cuz gasoline stations placed a freeze of seventy 5 money while u use a credits card so then you incredibly would be left with basically 25 buks to apply on the gasoline station.
2016-10-18 01:54:51 · answer #4 · answered by scharber 4 · 0⤊ 0⤋
there should be a phone Number on the back side of the card with a number of the card, if you call it it will explain about the fees.
2006-12-10 07:27:51 · answer #5 · answered by Marg N 4 · 0⤊ 1⤋
I use gift cards as soon as I get them. Why wait treat your self right now.
2006-12-10 07:25:37 · answer #6 · answered by xangohill 2 · 0⤊ 1⤋
go on christmas eve or the day after to spend it because thats when most of the sales are. i'm sure you most likely be fine.
2006-12-10 07:20:42 · answer #7 · answered by Ree 1 · 1⤊ 1⤋
Just buy something you want.
That's why it is call a 'gift' card.
2006-12-10 07:26:28 · answer #8 · answered by Anonymous · 0⤊ 1⤋