January 2, 2008
Those Anti-Consumer Gift Cards
By Tom Ryan
While they’re one of this season’s most desired holiday gifts, gift cards are also exceedingly popular among lawyers looking to protect consumers from their hidden fees and early expiration dates. Some are even looking for ways to reclaim amounts left after the cards expire.
State gift card action started in earnest in 2004 and has increased steadily along with the cards’ popularity. Since 2003, companies like Barnes & Noble, Blockbuster, CompUSA, Kmart and Toys ‘R’ Us have dropped their expiration dates and service fees. But legislation around them appears to be gaining momentum.
This year, Illinois and New Mexico passed bills requiring gift cards to last at least five years before expiring. Arkansas, Oregon and Utah require gift cards to disclose the expiration date, and Arkansas and Oregon go as far as to require it be printed on the card in 10-point type. North Carolina’s new law states that all fees be disclosed and that no fees take effect until a year after purchase. In total, 30 states have some sort of limitation on expiration dates or fees, while another seven require that fees and expirations be disclosed.
In California, a new law will enable consumers to redeem gift cards for cash if the balance is less than $10.
Other newer laws center around redeeming a portion of the unused cards’ value as unclaimed property. (An estimated 10 percent of all gift cards purchases are never used.) In Illinois, for example, the treasurer’s office is holding more than $5 million in unused gift card balances that residents may be able to redeem for cash if their gift cards expired.
But an article in the New York Post claims that retailers have set up separate gift card subsidiaries in states that allow them to keep the unredeemed balances from long unused cards. Typically, these states have more retailer-friendly laws to avoid these payouts.
“Unfortunately, the current laws benefit retailers by allowing them to incorporate their gift-card business in another state,” Thomas DiNapoli, the state controller told the Post. “The best way to avoid this problem entirely is for consumers to use gift cards within a year of purchase.”
One critic to the excessive restrictions on gift cards is Craig Shearman, a spokesperson for the National Retail Federation, who claims gift card fees cover the additional costs associated with offering them. His group opposes any restrictions on gift cards, saying that expirations and fees should be left up to individual retailers. If gift card legislation is necessary, Mr. Shearman told The Associated Press, he would prefer to see it at federal level so that retailers could deal with one law instead of the patchwork state laws.
“At a certain point, if it becomes exceedingly expensive and exceedingly burdensome for a company to offer a product in some states, it may be efficient for the retailers to simply stop offering the product,” he said.
Discussion Questions: What responsibility do retailers have to make sure consumers receive the full amount of their gift cards? Should all fees and expiration periods be eliminated? Do you see the federal government eventually regulating gift cards?
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Retailers don’t sell perishable products without a posted expiration date, so why should gift cards be any different?
Gift cards are good business, they are constantly promoted as the perfect gift solution, in grocery stores they take up to two end-cap displays. But unlike any of the other products in the grocery aisles they have limitations that are not clearly marked for the consumer.
Any time there is confusion to the consumer, attorneys will be involved. Retailers can shift responsibility, at least in the mind of consumers, to the card issuer by simply making consumers aware that gift cards include limitations.
The gift card issue has been a hot topic this holiday season, and in the discussion, I would like to distinguish between retailer-branded gift cards and generic stored value cards (prepaid Amex or Visa cards). I find they get lumped together, and I find that the prepaid cards are the worst offenders when it comes to fees and expiration dates.
That said, since states are starting to take legislation into their own hands, it’s probably fair to have some kind of national standard just to make it easier for everyone–both consumer and retailer–to understand what the rules of engagement are. For retailers to manage 50 different sets of rules, and for consumers to find that what they thought they knew about gift cards changes as soon as they leave their home state is silly.
But this fixation that retailers are out to get your unused balance is–for the most part–ridiculous. It’s a hassle for retailers and consumers alike for unused balances on gift cards to continue to float around out there. Retailers make money on gift cards when consumers come in and buy more than the value of the card. Retailers are in this to sell stuff, not become defacto banks or credit card companies, which is exactly what unused gift card balances force them to become.
Rather than fees, retailers should offer “gift card redemption week” where everything you buy with a gift card is an extra 10% off for example–incent consumers to use them up!
Escheat laws aren’t being enforced aggressively enough. Gift card balances are often absorbed by service charges (inactivity fees), and some retailers won’t make refunds (Pier 1, for example). Ever wonder what happens to unclaimed beverage bottle and can deposits? In New York State, bottlers get to keep them.
Smarter retailers could contact holders and purchasers of unspent gift cards, encouraging them with special promotions. Very frequently, the gift card holders actually spent more than the card’s value. Isn’t traffic generation the best way to win the game?
It is to the retailer’s benefit to make gift cards easy, convenient and people-friendly. Gift cards with fees and other fine print aimed at reducing the benefit will eventually be obsolete because the word will get out.
Gift cards are a way for retailers to gain revenue from a buyer that they would have missed. So, the easier the process and the more benefit to the person they’re buying for, the better. I think retailers should do a 360 on gift cards to enhance incentives for the gift giver to want to buy one of their cards…special wrapping/packaging, gift card email reminders, free discount to the buyer of their gift card, etc.
Fees should be eliminated but expiration dates should remain. It is reasonable to expect someone to spend the gift card in one year’s time.
The federal government has much more important things to do than regulate gift cards, although consumer protection is important and blind fees and gimmicks should be regulated.
Retailers should set a responsible program and use it to entice more consumers.
While I don’t think retailers want the feds involved in uniforming gift card laws, I think it’s coming.
Last year, I researched each state’s laws to write a list by state of what each state’s rules around gift cards are, and it’s quite ridiculous. It ranges from no expiration date and fees to all manner of fees and time lines to use the card.
While it might not pose a challenge for an in-state retailer to adhere to the laws, I wouldn’t want to be a national retailer trying to conform to 50 different GC laws. As a consumer, it’s even worse. If I bought the card in Oregon, where the Governor just signed a no expiration date/no fee rule into law, and I give it to someone in Virgina where fees can be assessed and the card expires…how would the retailer even know? Which law applies? And curiously, in VA, the legislature there requires retailers with GCs that charge fees have to have an 800 number or internet service to show the consumer what their balance is so that they can also be aware of the declining balance caused by fee deductions. It’s an added expense for anyone wanting to do business in VA.
Certainly, a no expiration date/no fees internal policy for all retailers would be the way to keep federal legislation at bay, but as I mentioned in another GC posting, it does pose an internal nightmare for accounting. And I would think one standard law would be an easier thing to adhere to than chasing 50 laws.
Similar to how stores offer an extra 10% off when you use their consumer credit card, they can easily market using a GC in the same manner. Or like many office supply chains which promo codes for spending X amount and getting a free product, a “use your GC, get a (fill in the blank)” offer would be a motivator for shoppers with GCs collecting dust in their junk drawers.
If I would have given my nephews cash for Christmas, they could do whatever they wanted with it, and it wouldn’t expire. People don’t want to give cash though; gift cards come off as being a little more thoughtful than just stuffing cash in an envelope. Gift cards aren’t going anywhere, but consumers will learn to avoid the worst offenders…which sort of defeats the purpose of offering them to begin with.
Just reading this gives me a giant headache. Gifts should not come with rules and regulations that ultimately make the recipient or the giver feel cheated. Get rid of the fees. Expiration dates of one year seem fair, to allow the issuing retailer to have the revenue opportunity realized within a reasonable time frame.
The industry needs to think about making the process simpler. Consumers will not jump over multiple hurdles to spend more in an uncertain economy. Make it easy for them and they just might get out their wallets more often.
Gift cards should reflect the ease and legitimacy of ancient “gift certificates” enabling a purchaser to buy a gift card and allowing the recipient to redeem the card as they wish. Effective dates, expiration dates and monthly fees are all part of the retailers ploy to reduce exposure from the cards.
Retailers currently enjoy significant float from the revenues attached to gift card sales. In addition, it is not hard to imagine that a large number of gift cards get lost or misplaced each year or that small balances remaining on the cards disappear as the shopper can’t be bothered keeping track of the balance. These opportunities alone result in significant savings and profits for the issuing stores.
When one couples expiration dates and monthly fees with the float and discarded balances, gift cards become a real profit center for major retailers.
This is wrong. Consumers should not be forced to pay “hidden” penalties as a result of buying a gift card. If there are fees attached to the card they should be explained upon purchase and an explanation of the potential penalties should be attached to each gift card for the recipient. Or the cards should carry up front fees like the American Express Gift Card, eliminating confusion when the card is used.
In realty, the cards should equate to cash and have the same rights and fees as using cash. Perhaps allowing an expiration period of several years would be appropriate as this would enable retailers to clean up old cards on a scheduled basis.
Retailers didn’t issue gift cards as a technological replacement for gift certificates but as a way to create a vibrant profit center. The time has come for this to be exposed and perhaps regulated–as gift cards are really just another form of cash.
I’m with Anne–gifts shouldn’t make you feel bad. Put me in the “No fees or expiration date” column.
The people giving gift cards are trying to give the recipients a way to purchase what they want. If the recipients are not able to identify restrictions or fees or are unable to use their gift cards or have difficulty redeeming the money or points on the gift card, then it becomes unattractive as a gift. If the stores want gift cards to be an important part of their business, they need to be desirable. If not consumers will purchase gift cards from companies that do make it easy to use or not use them at all.
I would like to recount this incident I had with a retailer I won’t name here. I had previously purchased a gift card for $50 from them but ended up not using it for a few months. Later I wanted to give gift cards to two different people for $30 each (sounds like a problem in math doesn’t it?). So I go to the counter and ask this girl to give me two gift cards, for $30 each and give her the $50 card and a ten-dollar bill. In her snootiest voice this associate says I can’t do that because a ‘gift card’ cannot be used to buy another. After a very frustrating five minutes with her, I asked for her manager, who promptly proceeded to cash my current card and give me two new ones, the whole thing took about 50 seconds.
The point I am trying to make is that cards are not actual products, they are more or less a receipt for money that the retailer took in advance and is holding for the customer. Considering the inflation rate and interest rate, the retailer benefits in two ways from gift-cards: the same amount of money will buy less as time goes by and the longer the consumer waits to use the card, the longer the retailer gets to use the money for free. I may be oversimplifying the concept, since there are other complications with accrual accounting, which require companies to account for gift-card sales as a pre-paid sales liability that can be taken off only when the card is redeemed and only then can the retailer recognize the sale. Given the underlying complexity of a gift-card transaction, it’s a little surprising that there is no definitive Federal regulation in this regard.
This is why I love working with Nikki. Her idea of “unused gift card redemption week” is fabulous. It would remind the spacey, like me, that I have one lying around the house.
This whole media driven notion of: “oooh, retailers are making their fortunes on unused portions of gift cards” borders on wacky. At best, it’s sensationalist pap. As Mark rightly points out, the real money in gift cards is the “overspend” that happens that drives extra cash into the register and extra merchandise out of the stores. An unused gift card is a liability to the retailer. And frankly, the “extra” cash, when you spread it out across the 2 trillion dollar retail industry, isn’t material enough to even talk about.
When I forget to use a gift card, it’s my loss. It is not the retailer’s responsibility to chase after me and give me the money. I’m the one who spaced it out. Ironically, the retailer most often doesn’t even have the name of the person who has the gift card in his or her possession, so the company can’t even send out a friendly reminder.
I’m a fan of regulation when it matters. In this case, it doesn’t.
Gift cards are great, but have no doubt that lost cards are a huge money maker for retailers. Not only do they make money off lost cards, they get to earn interest on money paid in advance. The fact that retailers are now putting restrictions on gift cards is obnoxious. They are treating pre-payment like coupons. In my opinion, it’s simply wrong.
I’m with Peter, Anne, Ryan and everyone else who dislikes the hidden element on these things…in fact, I’ll go further and say I hate the idea of gift cards, period. Either take the time to pick out a real gift for someone, or admit you’re lazy and/or clueless and give them something that has no strings attached–CASH.
The cost-benefit analysis to retailers of gift cards (comparing administrative costs against the benefits of an interest-free loan) should be a relatively straightforward calculation. In general, any time you are holding someone else’s cash on deposit against future merchandise sales, there is an opportunity to earn a bit of profit on the float. Non-redeemed balances only sweeten the tally.
Considering these benefits, customer fees and draconian expiration policies seem out of line and anti-consumer in fact and spirit. Gift cards are a golden opportunity for retailers to reinforce positive experience for recipients. Layering on rules and fees serves only to devalue the gift and turn off potential new loyal customers. Each time redeeming a card becomes an ordeal or disappointment, the retailer has damaged its customer equity at least once–more if the giver is informed about the bad experience.
So I believe Nikki is on to something when she identifies an experience-sweetening promotion concept centered around orphan gift card redemptions. Her approach would add a positive spin to a customer experience element that can be awkward for consumers–what to do with the loose change left on this gift card. Smart retailers would go further–advertising their “no hassle” gift card policies up front, to put pressure on their weaselly competitors.
This is pretty simple. Treat your customers the way you would treat your friends, and they will become customers for life.
Having expiration dates on gift cards is simply bad business, and these policies have to be coming from the office of the CFO, not the CMO. Retailers who eliminate these penalties will develop loyal customers at a significantly more rapid rate.
Whatever happened to personal responsibility? If someone gives you a gift card as a gift you have a responsibility to that person to treat it with respect, keep track of the card and use it in a timely fashion.
We have a major problem in this country of finding someone else to blame. If you lose the gift card–your responsibility. If their is a problem with the gift card itself–company responsibility…and they should replace it. One year to use a gift card is plenty of time. As if people in this consumer-based society CAN’T find something to spend it on?
I agree wholeheartedly with the earlier comment that our government has more important things to do than this. But it is a hot-button, standing-up-for-the-people, look-what-I-did issue for politicians to get re-elected. Then they don’t have to make the critical policy decisions we need them to make, because we are distracted.
I’m also with Nikki and the gang that a reminder/incentive is a great way to go…and that keeping up with your gift cards is a personal responsibility. My only beef is all of the hidden surprises that aren’t regulated that cause ill will. An example is in relation to a well known department store chain that informed me that I can’t use my frequent shopper coupons/discounts when cashing in a gift card. Perfect example of taking a good thing and turning it into a negative…it makes no sense!
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Retailers don’t sell perishable products without a posted expiration date, so why should gift cards be any different?
Gift cards are good business, they are constantly promoted as the perfect gift solution, in grocery stores they take up to two end-cap displays. But unlike any of the other products in the grocery aisles they have limitations that are not clearly marked for the consumer.
Any time there is confusion to the consumer, attorneys will be involved. Retailers can shift responsibility, at least in the mind of consumers, to the card issuer by simply making consumers aware that gift cards include limitations.
The gift card issue has been a hot topic this holiday season, and in the discussion, I would like to distinguish between retailer-branded gift cards and generic stored value cards (prepaid Amex or Visa cards). I find they get lumped together, and I find that the prepaid cards are the worst offenders when it comes to fees and expiration dates.
That said, since states are starting to take legislation into their own hands, it’s probably fair to have some kind of national standard just to make it easier for everyone–both consumer and retailer–to understand what the rules of engagement are. For retailers to manage 50 different sets of rules, and for consumers to find that what they thought they knew about gift cards changes as soon as they leave their home state is silly.
But this fixation that retailers are out to get your unused balance is–for the most part–ridiculous. It’s a hassle for retailers and consumers alike for unused balances on gift cards to continue to float around out there. Retailers make money on gift cards when consumers come in and buy more than the value of the card. Retailers are in this to sell stuff, not become defacto banks or credit card companies, which is exactly what unused gift card balances force them to become.
Rather than fees, retailers should offer “gift card redemption week” where everything you buy with a gift card is an extra 10% off for example–incent consumers to use them up!
Escheat laws aren’t being enforced aggressively enough. Gift card balances are often absorbed by service charges (inactivity fees), and some retailers won’t make refunds (Pier 1, for example). Ever wonder what happens to unclaimed beverage bottle and can deposits? In New York State, bottlers get to keep them.
Smarter retailers could contact holders and purchasers of unspent gift cards, encouraging them with special promotions. Very frequently, the gift card holders actually spent more than the card’s value. Isn’t traffic generation the best way to win the game?
It is to the retailer’s benefit to make gift cards easy, convenient and people-friendly. Gift cards with fees and other fine print aimed at reducing the benefit will eventually be obsolete because the word will get out.
Gift cards are a way for retailers to gain revenue from a buyer that they would have missed. So, the easier the process and the more benefit to the person they’re buying for, the better. I think retailers should do a 360 on gift cards to enhance incentives for the gift giver to want to buy one of their cards…special wrapping/packaging, gift card email reminders, free discount to the buyer of their gift card, etc.
Fees should be eliminated but expiration dates should remain. It is reasonable to expect someone to spend the gift card in one year’s time.
The federal government has much more important things to do than regulate gift cards, although consumer protection is important and blind fees and gimmicks should be regulated.
Retailers should set a responsible program and use it to entice more consumers.
While I don’t think retailers want the feds involved in uniforming gift card laws, I think it’s coming.
Last year, I researched each state’s laws to write a list by state of what each state’s rules around gift cards are, and it’s quite ridiculous. It ranges from no expiration date and fees to all manner of fees and time lines to use the card.
While it might not pose a challenge for an in-state retailer to adhere to the laws, I wouldn’t want to be a national retailer trying to conform to 50 different GC laws. As a consumer, it’s even worse. If I bought the card in Oregon, where the Governor just signed a no expiration date/no fee rule into law, and I give it to someone in Virgina where fees can be assessed and the card expires…how would the retailer even know? Which law applies? And curiously, in VA, the legislature there requires retailers with GCs that charge fees have to have an 800 number or internet service to show the consumer what their balance is so that they can also be aware of the declining balance caused by fee deductions. It’s an added expense for anyone wanting to do business in VA.
Certainly, a no expiration date/no fees internal policy for all retailers would be the way to keep federal legislation at bay, but as I mentioned in another GC posting, it does pose an internal nightmare for accounting. And I would think one standard law would be an easier thing to adhere to than chasing 50 laws.
Similar to how stores offer an extra 10% off when you use their consumer credit card, they can easily market using a GC in the same manner. Or like many office supply chains which promo codes for spending X amount and getting a free product, a “use your GC, get a (fill in the blank)” offer would be a motivator for shoppers with GCs collecting dust in their junk drawers.
If I would have given my nephews cash for Christmas, they could do whatever they wanted with it, and it wouldn’t expire. People don’t want to give cash though; gift cards come off as being a little more thoughtful than just stuffing cash in an envelope. Gift cards aren’t going anywhere, but consumers will learn to avoid the worst offenders…which sort of defeats the purpose of offering them to begin with.
Just reading this gives me a giant headache. Gifts should not come with rules and regulations that ultimately make the recipient or the giver feel cheated. Get rid of the fees. Expiration dates of one year seem fair, to allow the issuing retailer to have the revenue opportunity realized within a reasonable time frame.
The industry needs to think about making the process simpler. Consumers will not jump over multiple hurdles to spend more in an uncertain economy. Make it easy for them and they just might get out their wallets more often.
Gift cards should reflect the ease and legitimacy of ancient “gift certificates” enabling a purchaser to buy a gift card and allowing the recipient to redeem the card as they wish. Effective dates, expiration dates and monthly fees are all part of the retailers ploy to reduce exposure from the cards.
Retailers currently enjoy significant float from the revenues attached to gift card sales. In addition, it is not hard to imagine that a large number of gift cards get lost or misplaced each year or that small balances remaining on the cards disappear as the shopper can’t be bothered keeping track of the balance. These opportunities alone result in significant savings and profits for the issuing stores.
When one couples expiration dates and monthly fees with the float and discarded balances, gift cards become a real profit center for major retailers.
This is wrong. Consumers should not be forced to pay “hidden” penalties as a result of buying a gift card. If there are fees attached to the card they should be explained upon purchase and an explanation of the potential penalties should be attached to each gift card for the recipient. Or the cards should carry up front fees like the American Express Gift Card, eliminating confusion when the card is used.
In realty, the cards should equate to cash and have the same rights and fees as using cash. Perhaps allowing an expiration period of several years would be appropriate as this would enable retailers to clean up old cards on a scheduled basis.
Retailers didn’t issue gift cards as a technological replacement for gift certificates but as a way to create a vibrant profit center. The time has come for this to be exposed and perhaps regulated–as gift cards are really just another form of cash.
I’m with Anne–gifts shouldn’t make you feel bad. Put me in the “No fees or expiration date” column.
The people giving gift cards are trying to give the recipients a way to purchase what they want. If the recipients are not able to identify restrictions or fees or are unable to use their gift cards or have difficulty redeeming the money or points on the gift card, then it becomes unattractive as a gift. If the stores want gift cards to be an important part of their business, they need to be desirable. If not consumers will purchase gift cards from companies that do make it easy to use or not use them at all.
I would like to recount this incident I had with a retailer I won’t name here. I had previously purchased a gift card for $50 from them but ended up not using it for a few months. Later I wanted to give gift cards to two different people for $30 each (sounds like a problem in math doesn’t it?). So I go to the counter and ask this girl to give me two gift cards, for $30 each and give her the $50 card and a ten-dollar bill. In her snootiest voice this associate says I can’t do that because a ‘gift card’ cannot be used to buy another. After a very frustrating five minutes with her, I asked for her manager, who promptly proceeded to cash my current card and give me two new ones, the whole thing took about 50 seconds.
The point I am trying to make is that cards are not actual products, they are more or less a receipt for money that the retailer took in advance and is holding for the customer. Considering the inflation rate and interest rate, the retailer benefits in two ways from gift-cards: the same amount of money will buy less as time goes by and the longer the consumer waits to use the card, the longer the retailer gets to use the money for free. I may be oversimplifying the concept, since there are other complications with accrual accounting, which require companies to account for gift-card sales as a pre-paid sales liability that can be taken off only when the card is redeemed and only then can the retailer recognize the sale. Given the underlying complexity of a gift-card transaction, it’s a little surprising that there is no definitive Federal regulation in this regard.
This is why I love working with Nikki. Her idea of “unused gift card redemption week” is fabulous. It would remind the spacey, like me, that I have one lying around the house.
This whole media driven notion of: “oooh, retailers are making their fortunes on unused portions of gift cards” borders on wacky. At best, it’s sensationalist pap. As Mark rightly points out, the real money in gift cards is the “overspend” that happens that drives extra cash into the register and extra merchandise out of the stores. An unused gift card is a liability to the retailer. And frankly, the “extra” cash, when you spread it out across the 2 trillion dollar retail industry, isn’t material enough to even talk about.
When I forget to use a gift card, it’s my loss. It is not the retailer’s responsibility to chase after me and give me the money. I’m the one who spaced it out. Ironically, the retailer most often doesn’t even have the name of the person who has the gift card in his or her possession, so the company can’t even send out a friendly reminder.
I’m a fan of regulation when it matters. In this case, it doesn’t.
Gift cards are great, but have no doubt that lost cards are a huge money maker for retailers. Not only do they make money off lost cards, they get to earn interest on money paid in advance. The fact that retailers are now putting restrictions on gift cards is obnoxious. They are treating pre-payment like coupons. In my opinion, it’s simply wrong.
I’m with Peter, Anne, Ryan and everyone else who dislikes the hidden element on these things…in fact, I’ll go further and say I hate the idea of gift cards, period. Either take the time to pick out a real gift for someone, or admit you’re lazy and/or clueless and give them something that has no strings attached–CASH.
The cost-benefit analysis to retailers of gift cards (comparing administrative costs against the benefits of an interest-free loan) should be a relatively straightforward calculation. In general, any time you are holding someone else’s cash on deposit against future merchandise sales, there is an opportunity to earn a bit of profit on the float. Non-redeemed balances only sweeten the tally.
Considering these benefits, customer fees and draconian expiration policies seem out of line and anti-consumer in fact and spirit. Gift cards are a golden opportunity for retailers to reinforce positive experience for recipients. Layering on rules and fees serves only to devalue the gift and turn off potential new loyal customers. Each time redeeming a card becomes an ordeal or disappointment, the retailer has damaged its customer equity at least once–more if the giver is informed about the bad experience.
So I believe Nikki is on to something when she identifies an experience-sweetening promotion concept centered around orphan gift card redemptions. Her approach would add a positive spin to a customer experience element that can be awkward for consumers–what to do with the loose change left on this gift card. Smart retailers would go further–advertising their “no hassle” gift card policies up front, to put pressure on their weaselly competitors.
This is pretty simple. Treat your customers the way you would treat your friends, and they will become customers for life.
Having expiration dates on gift cards is simply bad business, and these policies have to be coming from the office of the CFO, not the CMO. Retailers who eliminate these penalties will develop loyal customers at a significantly more rapid rate.
Whatever happened to personal responsibility? If someone gives you a gift card as a gift you have a responsibility to that person to treat it with respect, keep track of the card and use it in a timely fashion.
We have a major problem in this country of finding someone else to blame. If you lose the gift card–your responsibility. If their is a problem with the gift card itself–company responsibility…and they should replace it. One year to use a gift card is plenty of time. As if people in this consumer-based society CAN’T find something to spend it on?
I agree wholeheartedly with the earlier comment that our government has more important things to do than this. But it is a hot-button, standing-up-for-the-people, look-what-I-did issue for politicians to get re-elected. Then they don’t have to make the critical policy decisions we need them to make, because we are distracted.
I’m also with Nikki and the gang that a reminder/incentive is a great way to go…and that keeping up with your gift cards is a personal responsibility. My only beef is all of the hidden surprises that aren’t regulated that cause ill will. An example is in relation to a well known department store chain that informed me that I can’t use my frequent shopper coupons/discounts when cashing in a gift card. Perfect example of taking a good thing and turning it into a negative…it makes no sense!