Articles - Archived Feature

The Gift that Might Stop Giving

It's February, and chances are your wallet holds a gift card—or seven—left over from the holidays. But don't take too long to decide on your purchases, because waiting to spend those gift cards could come back to bite you. ScripSmart, an online blog approved by Clark Howard, Mint.com and Forbes.com, recently gave North Carolina an "F" when it came to our gift card laws. Apparently, while many cards are exactly what they seem, others may have several strings attached.

For instance, did you know there are no limits on expiration dates in North Carolina, so merchants can set expiration dates as they see fit? Plus, usually one year after your card has been purchased, "post-sale fees" of any amount can be charged. This means your card can lose value simply by staying in your wallet too long—the merchant can charge what he likes.

According to North Carolina's Attorney General, some gift cards are even vulnerable to fees right away, without that one-year waiting period. These can include cards issued by banks, credit card companies, shopping malls and others. As a gift-card holder, it's wise to use that card as soon as possible to retain its full value.

All that said, gift cards are still a very popular option come gift-giving time. They're easy, portable, somewhat personalized and allow recipients to choose what they really want. And, most cards and merchants will (and do) treat consumers fairly. To research reviews of the best gift cards out there, go to www.scripsmart.com for more information.

If you ever feel you've been treated unfairly by a merchant, there is recourse—you can call 1.800.NO.SCAM to reach the Consumer Protection Division of the Attorney General's office. You can also visit www.ncdoj.gov to learn more about the laws surrounding gift cards and gift certificates in North Carolina.