Comments on: Gift Cards – The Good, the Bad, and the Ugly http://cashmoneylife.com/gift-cards-pros-and-cons/ Money Management, Small Business, Career Wed, 23 May 2012 21:16:10 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Sam Hogg http://cashmoneylife.com/gift-cards-pros-and-cons/#comment-20488 Sam Hogg Tue, 24 Nov 2009 03:46:02 +0000 http://cashmoneylife.com/?p=1963#comment-20488 As a general rule of thumb, retailer specific gift cards almost always have the most consumer protection. Ones issued by credit card companies will generally have fees because they are in the transaction business. Retailers are in the retailing business, so their goals are to sell more product. State legislatures have also done a great job in recent years to protect consumers from fees and early expirations. You can find the different protections in your state at the National Council of State Legislatures site here: http://www.ncsl.org/IssuesResearch/BankingInsuranceFinancialServices/GiftCardsandGiftCertificatesLegislation/tabid/12474/Default.aspx Finally, many web services have emerged in recent years to help purchase, send, redeem, and swap gift cards without fees. GiftZip.com, for instance, helps users navigate to retailer cards that can be delivered electronically, and does it completely free of charge. Others can be found in a recent Entrepreneur article here: http://www.entrepreneur.com/magazine/entrepreneur/2009/november/203738.html Hope this is informative. Sam Hogg Founder and CEO, GiftZip.com As a general rule of thumb, retailer specific gift cards almost always have the most consumer protection. Ones issued by credit card companies will generally have fees because they are in the transaction business. Retailers are in the retailing business, so their goals are to sell more product.

State legislatures have also done a great job in recent years to protect consumers from fees and early expirations. You can find the different protections in your state at the National Council of State Legislatures site here: http://www.ncsl.org/IssuesResearch/BankingInsuranceFinancialServices/GiftCardsandGiftCertificatesLegislation/tabid/12474/Default.aspx

Finally, many web services have emerged in recent years to help purchase, send, redeem, and swap gift cards without fees. GiftZip.com, for instance, helps users navigate to retailer cards that can be delivered electronically, and does it completely free of charge. Others can be found in a recent Entrepreneur article here: http://www.entrepreneur.com/magazine/entrepreneur/2009/november/203738.html

Hope this is informative.

Sam Hogg
Founder and CEO, GiftZip.com

]]> By: Manshu http://cashmoneylife.com/gift-cards-pros-and-cons/#comment-20442 Manshu Wed, 18 Nov 2009 01:25:35 +0000 http://cashmoneylife.com/?p=1963#comment-20442 I don't like getting gift cards because I'd much rather be surprised by gifts :) but when it comes to giving gifts, I love gift cards ;) I don’t like getting gift cards because I’d much rather be surprised by gifts :) but when it comes to giving gifts, I love gift cards ;)

]]> By: Craig http://cashmoneylife.com/gift-cards-pros-and-cons/#comment-20441 Craig Tue, 17 Nov 2009 22:41:15 +0000 http://cashmoneylife.com/?p=1963#comment-20441 I like getting gift cards because I ask for a store that is exactly what I want. I'd rather not have the surprise and get the wrong item and just take something I can actually use. I like getting gift cards because I ask for a store that is exactly what I want. I’d rather not have the surprise and get the wrong item and just take something I can actually use.

]]> By: Financial Samurai http://cashmoneylife.com/gift-cards-pros-and-cons/#comment-20437 Financial Samurai Tue, 17 Nov 2009 17:51:59 +0000 http://cashmoneylife.com/?p=1963#comment-20437 I actually know plenty of retail marketing execs who love selling gift cards due to 1) postive cash conversion cycle, and 2) the amazing ability of consumers to lose the cards or let them expire. Don't be lazy folks. Use or lose! I actually know plenty of retail marketing execs who love selling gift cards due to 1) postive cash conversion cycle, and 2) the amazing ability of consumers to lose the cards or let them expire.

Don’t be lazy folks. Use or lose!

]]> By: Ryan http://cashmoneylife.com/gift-cards-pros-and-cons/#comment-20434 Ryan Tue, 17 Nov 2009 12:56:52 +0000 http://cashmoneylife.com/?p=1963#comment-20434 Definitely a great idea, Craig. I've also regifted them before, but I usually give them in passing instead of as a formal gift. "I have this gift card I won't use and thought you might like it." It's a nice way to say thanks or let someone know you are thinking about them. :-) Definitely a great idea, Craig. I’ve also regifted them before, but I usually give them in passing instead of as a formal gift. “I have this gift card I won’t use and thought you might like it.” It’s a nice way to say thanks or let someone know you are thinking about them. :-)

]]> By: Craig Ford http://cashmoneylife.com/gift-cards-pros-and-cons/#comment-20433 Craig Ford Tue, 17 Nov 2009 12:46:14 +0000 http://cashmoneylife.com/?p=1963#comment-20433 I always seem to find friends who are willing to trade gift cards. This way you avoid the fees of selling the cards online. I always seem to find friends who are willing to trade gift cards. This way you avoid the fees of selling the cards online.

]]>