Gift cards make terrific alternative gifts to traditional ones. They are simple and show that you know a little about the person you are giving them to. However, there are things that should be done to safeguard against your gift turning into a nightmare. Here are three things to know about gift cards.
It can be difficult to replace it if stolen/lost.
Unlike a credit/debit card that is tracked by a bank, stores are not as diligent in keeping track of the hundreds of thousands of cards they sell each year. Most stores will take replace your card with a receipt. If you know your gift card number you will be able to make any online purchase you want, despite having a card or not. To be sure on the policy regarding lost or theft, you need to read the gift card’s term and conditions.
They expire sometimes.
While some gift cards last forever, most of the time there is around a two-year time limit in spending the money on the card. It is important to check the card details to see just how long you have. Even reloadable gift cards have expiration dates as some are not designed to be used for a long time. Note however that still, there are gift cards that claims that they don’t have any expiration. In order for you to be certain, always read the terms and conditions that apply to the gift cards that you are planning to give or the gift card that you just received.
If the store fails?
In the rare chance that the store you have the card for goes bankrupt, there is a good chance your gift card will become worth nothing. There are restrictions to protect you from this, but it is good to research the potential when buying larger gift cards. Even if you got free gift cards, there’s no use for you to use it if the one that acknowledges the gift card for redemption is already closed.
Those are 3 things to know about gift cards. Happy shopping and happy gifting.
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