Comments on: Credit Card Act Gift Card Protections Make Gift Cards LESS of a Rip Off

By: Gift Card Exchange

Gift Card Exchange — Mon, 20 Jun 2011 18:32:32 +0000

The Credit CARD Act of 2009 is probably the most important in the last few years. The problem is that corporations, mainly financial institutions, will always find means to explore the consumer. Fortunately there are private initiatives that helps consumers rather than explore them.

By: Budgeting in the Fun Stuff

Budgeting in the Fun Stuff — Tue, 16 Mar 2010 16:06:17 +0000

We give and receive gift cards all the time. I make sure to only give ones that will be enjoyed (stores the recipient goes to all the time) and have no expiration date. I also have never paid a fee to buy a gift card. I either buy them directly from the store or get them with my Discover cash back rewards (no fee and discounts to boot).

I prefer to receive gift cards from places I like instead of cash, because I’m like Shelley above – I’ll bank the cash and use it for bills, but I get to have fun with a gift card. I have a serious frugality problem sometimes…gift cards are appreciated.

By: Shelley Hunter

Shelley Hunter — Mon, 15 Mar 2010 18:38:42 +0000

I couldn’t disagree with you more. If you give me cash, I’ll spend it on groceries and electricity bills. The money will be gone without a thought. If you give me a gift card, however, I’ll be forced to (allowed to) be self-indulgent without feeling guilty.

By: Julie

Julie — Mon, 15 Mar 2010 17:49:30 +0000

Shelley,

It depends on the person. I know if I get a generic gift card, I’ll still spend it on groceries and bills. I’d feel guilty spending it on anything else because it’s still money. However, when I get a gift card for something specific, I don’t feel guilty spending it because I have no choice. I’d never get starbucks coffee normally, but with a gift card, it’s no longer overpriced. So I spend it because if I didn’t spend it, the money would go to waste.

But if I could pick between 10 cups of coffee or $50, I’ll take the $50, personally.

By: Julie

Julie — Mon, 15 Mar 2010 15:37:51 +0000

I’ve only ever given 1 gift card as a gift myself: to my best friend for Christmas, an Aeropostale gift card, when we both loved the store. The only reason I gave it to her was because I knew she would be buying stuff from there very soon regardless, so I was basically handing her cash, but showing that I did in fact know what she liked (I also gave her some Godiva chocolate–another thing we both loved back then).

She ended up giving me the same gift that year. So we exchanged gift cards and chocolate.

Apart from that, I’ve never given anyone a gift card. It’s either cash and a card, or an actual gift.

I’ve gotten a few, including a $500 Amex gift card from work (as a bonus for graduating college), and some gift cards to Starbucks, Cosi, etc. Places I go all the time and would spend money on regardless.

Sometimes it’s thoughtful (more so than an envelope of cash), but it’s always less convenient. Why do I need to carry around another card in my wallet, worrying about the remaining balance?

I still have a Cosi gift card with $3 on it in my wallet. That wouldn’t happen if the giver had just given me $50 in cash.

By: MikeB

MikeB — Mon, 15 Mar 2010 01:26:35 +0000

@G.E.Miller not to be rude, but the ‘what gives?’ was directed at you… this is really a non-post isn’t it? there have been no real changes, as long as it is “clearly disclosed at the time of purchase” they can still do anything they want, right?

my only real question is what does ‘clearly disclosed’ mean exactly.

By: G.E. Miller

G.E. Miller — Sun, 14 Mar 2010 20:18:46 +0000

@ Mike – what ‘gives’ is lobbyists. Although maybe it should be what ‘takes’.

By: MikeB

MikeB — Sun, 14 Mar 2010 17:32:32 +0000

So pretty much nothing has changed…
1. “Gift cards cannot expire within five years”…”unless the expiration date is clearly disclosed”.

2. “No inactivity fees on gift cards except in certain circumstances, such as if there has been no transaction for at least 12 months.”
that sentence is a direct contradiction of itself.

what gives?