I haven’t come up with a good reason why gift cards should have fees or expiration dates. First, by purchasing gift cards, consumers are essentially providing card issuers with an unsecured loan on which they receive no interest even if the card is not redeemed for a year or more. Second, if the company goes bankrupt, the chance that the money will be returned is very slim (except in a few cases, like Linens and Things recently).

So if consumers are taking these risks by purchasing gift cards, why should they be subject to fees and expiration? sell gift card in ghana You might as well change the gift card fee disclosure to read as follows:

Dear gift card buyer,

We really appreciate the unsecured loan you gave us. Together they lent us $97 billion in 2007, up from $83 billion in 2006. You know with all the talk of a recession, we could use the extra money. Thank you for not charging us any interest or fees on the loan. We will use your money immediately and get great returns. You might even hear about all the kudos we get from Wall Street for our stellar earnings (which are backed by the money we get when your gift card expires). Hell, our CEO might even buy his third McMansion in the Hamptons after we reward him for making good use of your loan. A few articles on household cleaning:

1. If you bought the gift card on our website, we may charge you a handling fee separate from the shipping cost to get you the card, which shows that we owe you money. You are welcome to shop in our shop up to the amount of the loan (voucher value). But if you don’t hurry, we’ll penalize you with ridiculous fees every month. These charges can start as early as six months into the loan. We can even claim your fees as early as a month from the start of the loan if we wish. And remember, the charges will continue until the balance on your gift card reaches ZERO. Why? Because we can. Yes, your state legislatures are all complaining about it because it’s an election year. Do you really think they will do something about it?

2. Also, we have found from experience that some of you like to wait a long time, and we mean a long, long time to redeem your gift card. It takes us a while to get your $100 gift card to ZERO when we only charge $2.50 a month. So, now we have a better idea. We’ll charge you the $2.50 for some time and if you use your gift card by a certain date, e.g. B. within two years, your card will expire. Once your card expires, we receive all the money left on the card. You are probably wondering if this is legal. Well, no one told us it wasn’t.

3. And don’t even think about losing your card. We reserve the right not to replace lost or stolen gift cards. Yes, we know the bank will replace your savings statement or CD certificate if you lose it, but we’re not a bank so we can do whatever we want. If we’re feeling generous, we can replace your gift card, but we’ll charge you a fee of up to $15 to teach you a lesson.

4. Finally, if you bought a bank-issued gift card (like Visa, MasterCard, American Express, or Discover), you better read the fine print and familiarize yourself with fees like the transaction or statement copy fee, foreign currency conversion fee, and check issuance fee and Transaction Fee / Balance Inquiry Fee. And something else; Don’t call the FTC because they may be willing to push for legislation capping retail gift card fees, but they were unwilling to touch us, the bank-issued gift cards. Why? Because our lobbyists do an excellent job.

We hope you enjoy your gift voucher.

I am convinced that gift card issuers would be better off and making more money if they eliminated fees and expiration dates on gift cards, as negative publicity about gift cards from both state legislators and the news media has led some Consumers stay away from gift cards. This is especially true during the holiday season when every local news station and newspaper seems to be running a story about the dangers of gift card fees and expiration.

How to use your credit card to get free gift cards

Major credit card companies like Discover Card, American Express, and Nordstrom Bank have fantastic rewards programs. The general rule is that every dollar spent on a purchase earns one point. After accumulating a certain number of points, the cardholder can redeem the points for rewards, including gift cards. Higher card usage results in more points and ultimately more gift cards. Check with your credit card company and see if they offer a rewards program.

If the company offers rewards, read the fine print to learn how to earn the rewards. For example, only certain purchases may be eligible for rewards. Make sure you understand qualifying purchases. Next, you need to maximize card usage by making those qualifying purchases. Use your credit card for as many qualifying purchases as possible, including groceries, gas, utility bills, clothing, medical expenses, car repairs, donations and entertainment. Just make sure you’re not overspending and that you can pay the credit card bill when the bill comes in.

Next, monitor your points. Check your monthly statement or go online and look at your statement. Understand how many points are required to redeem a specific gift card, as different value cards require different numbers of points. which gift card has the highest rate in ghana Don’t be afraid to redeem your points! Make a habit of redeeming your points regularly so you don’t lose them. The credit card company anticipates cardholders forgetting about the rewards program or not even knowing about it.

Think of your credit card as a way to earn free gift cards. Once you understand how to use the system and earn points, you will find all kinds of ways to earn free gift cards and other items. Who says credit cards always have to be bad?