Consumer Blog
You can get burned with gift cards
We have mentioned some slight risks associated with gift cards, but here is another, perhaps bigger risk: the company you buy from could go out of business.
According to one count, $75 million worth of gift cards could be worthless because of retailers that are in financial trouble.
Technorati Tags: gift card, moagoconsumer, consumer protection
Posted by on March 12, 2008 9:09 am :: Comments (7) :: Permalink
7 Responses to "You can get burned with gift cards"
says:
March 26, 2008 10:08 am
Travis,
I was wondering if you could provide information on the Missouri statute regarding gift certificates. I am in posession of 2 (paper) gift certificates that have an expiration date on them. I was always told that gift certificates do not expire, under law that was not allowed. Plastic gift cards, on the other hand, can get eaten up by "fees" and the like. This merchant is now telling me I cannot redeem these for merchandise in their store. Who's right? Thanks!
says:
March 26, 2008 2:33 pm
To Paula:
Missouri has no laws on gift cards or gift certificates. However, you might be able to work out a solution with the merchant if you file a consumer complaint with our office.
says:
April 23, 2008 8:01 am
If Missouri has no laws on gift cards how can merchants be held responsible for them. What guidance is available for merchants? I am aware of a company that contacted the Attorney General's office for guidance and was told to dig through the state statutes.
says:
April 23, 2008 9:44 am
To Evelyn:
Since the laws don't mention gift cards specifically, these are considered merchandise just like any other product under state and federal fair trade laws. You can find the state statutes in Chapter 407 RSMo. For guidance, a merchant's lawyer should be able to answer any questions.
says:
May 6, 2008 3:04 pm
I surprise that Missouri has no laws on gift cards or gift certificates.I was also thinking the same that gift certificate dont expires. By the way what is the rule for gift baskets
says:
August 8, 2008 10:09 am
I have a gift certificate for a business that went out of business. What is my recourse? Thanks
says:
August 8, 2008 2:40 pm
To Susan:
You can file a consumer complaint with our office. We recently had a successful case against a company that left customers in a similar situation.
