The Use of Gift Cards Come Into Question
Here is an interesting twist: with many retailers closing store branches and/or declaring bankruptcy, what happens to their gift cards? A great many people that have either bought gift cards to give as gifts are now wondering just that. And no doubt, the recipients of those gift cards will be wondering the same thing.
It is our suggestion that if you are going to be purchasing gift cards this Christmas, be sure that they are general purpose cards such as Visa gift cards. That way they will be honored wherever the cardholder prefers to shop. And they have no expiration date. Flexibility, security and options are the key when choosing a gift card.
Now it’s understandable that many people would prefer to give gift cards from specialty stores with the particular preferences of the person receiving it in mind. But that may not be advisable in the present economic climate. That $50 gift card to Sue’s Candle House that you were going to give Aunt Betty may end up worthless if Sue’s Candle House goes out of business before the gift card can be redeemed.
Don’t get me wrong here, I personally think gift cards are great (cash is better). Just be careful when buying them for individual stores. I’m not saying you should study the business’s accounting statements, but be aware that there are some companies, both small and large, that will be going out of business because of the current state of the economy.
This will really hit home after the holiday season. Most retailers count on the holidays to provide them with the bulk of their income. Inevitably, a great many of them will be disappointed this year. We have already seen Circuit City declare bankruptcy… whose next?
Related Information:
- Important Facts About Using Gift Cards Be careful to closely read the terms on gift cards so you know what the restrictions are before you buy them....
- People Love Getting Gift Cards Gift cards have become very, very popular amongst consumers....
- Gift Cards Being Passed Off As Credit Cards Unscrupulous people are now passing off gift cards as if they were credit cards to dupe unsuspecting store clerks....
- Rewards Credit Cards Come In Various Forms Find out which rewards credit cards provide you with the most bang for your buck....