Here is a link to an article I published recently on EzineArticles that talks about Sen. Charles Schumer of New York’s plan to introduce in 2009 a federal legislation that will set standards on gift cards. While this is a good first step, I argue in my article for the bill to address the issue of Bankruptcy and gift cards.
My proposal is for Congress to set some guidelines requiring retailers to honor gift cards during bankruptcy. To read the article, click here.
Hi Folks,
Below is a list of major retailer bankruptcies for 2008 and their impact on gift card holders. As you will find, almost all the retailers listed continued to honor gift cards during bankruptcy, with the exception of Bombay Company and The Sharper Image (which did honor gift cards but with restrictions). We hope the trend of retailers honoring gift cards during bankruptcy continues in 2009.
A note to our readers: If you are still holding on to gift cards from the retailers below and they are still accepting gift cards, NOW is the time to use the gift card or lose it. The next update will be in January unless there is a major announcement in December.
Circuit City – Filed for Chapter 11 bankruptcy in November, 2008. The company is still accepting gift cards and issuing new ones. Our advice is to use your Circuit City gift card NOW and not buy a new Circuit City gift card while they are still in bankruptcy.
By the way, HHGregg, the electronics retailer is accepting Circuit City gift cards through super bowl Sunday. For more on this offer, click here.
Linens ‘N Things – Initially filed for Chapter 11 bankruptcy but later followed up with a total liquidation in October, 2008. The company is still honoring gift cards during the liquidation. Read the rest of this entry »
Outback Steakhouse – Outback Steakhouse is offering a free $20 gift card with a purchase of $100 Outback gift card. Offer ends on 12/31/2008. Click here for details.
Discover Card – Discover Card is offering customers a free $20 Discover Gift Card for every $200 purchase charged on their Discover Card. Limit up to 5 gift cards. Card must be used at participating malls from 11/1 – 1/4/09. Offer expires on 1/4/2009. Click here for details and locate a participating mall.
Wal-Mart – Wal-Mart is offering a free $50 gift card with the purchase of a Sony BDPS350 Blu-ray Disc Player for $298. Click here for details.
Wal-Mart – Wal-Mart is offering a free $15 e-gift card with the purchase of a Battery Powered Pink Mini Cooper Ride-On for $159. Gift card can be redeemed online only. Click here for details.
Best Buy – Best Buy is offering a free $10 gift card with the purchase of two select DVDs. Offer ends on 12/13/2008. Click here for details.
Crutchfield – Crutchfield is offering a free $25 gift card gift card with a purchase of $100 or more. Use coupon code 3A865. Offer expires on 12/31/2008. Click here to go to Crutchfield.
Talbots – Talbots is offering a free $25 gift card when you buy a $100 gift card (that’s 25% more for free). Unlike other promotions that take weeks to send you your free gift card, Talbots is promising a 3-6 business day timeframe for your free $25 card to arrive. Offer is valid until 12/24/2008. You can use your free $25 card beginning 12/26/2008 (which is a smart way to bring people back to the store after christmas. 
– This deal is available both in-store and online. Click here for details.
For more gift card deals and promotions, click here.
For those of you who read this blog regularly, you are probably aware that I have been following this story closely as soon as it became evident that this Verizon FiOS gift card deal I posted back in March 2008 isn’t all it’s cracked up to be.
As I explained in this follow-up piece, Verizon FiOS advertised a deal, promising customers a $200 Circuit City, Best Buy, American Express or some other gift card if they signed up for a specific package. A lot of customers signed up believing that Verizon FiOS will send them their gift card a couple of weeks later. That did not happen for some people and as you can see from comments posted here and here, Verizon FiOS is trying to get away with not honoring their promise. Read the rest of this entry »
Are you currently holding on to a gift card you don’t want? Well, there is good news for you. You can swap your gift card for another card of your choice at www.GiftCardRescue.com. Unlike other gift card swapping websites, you do not have to wait till you find someone willing to do a trade with you. GiftCardRescue.com will buy your gift card for a percentage of the card value (usually between 60% – 80% depending on the popularity of the card) and then you can use the proceeds to buy a brand new gift card of your choice.
GiftCardRescue.com offers gift cards from over 35 national retailers to choose from, like the Home Depot, Wal Mart, Target, Best Buy, Hollister, Abercrombie & Fitch, Victoria’s Secrets, Ann Taylor and Brooks Brothers to name a few. So, the next time you find yourself stuck with an unwanted gift card, visit www.GiftCardRescue.com and trade that gift card for a card you will use.
Disclaimer: GiftCardRescue.com is the publisher of this blog.
It is that time of the year when you hear a lot about gift cards and how they make such a great gift. But this year, the news surrounding gift cards has focused on retailer bankruptcies and their impact on gift card holders. Then there is the now famous misleading viral email warning consumers to stay away from gift cards issued by some major retailers, like The Home Depot and Ann Taylor due to the possibility their gift cards would become worthless should the retailers go bankrupt.
In the midst of all this misinformation and anxiety about gift cards, it is therefore timely that Manhattan Advertising & Media Law, a Manhattan Beach, CA law firm, has put together an online gift card map that provides a state-by-state summary of gift card laws. Users can click on any state to read a brief summary of that state’s gift card statutes, including what happens to gift cards during bankruptcy and state law regarding gift card fees and expirations.
The LA Times has a piece describing the map in detail. While I am excited about the state-by-state provisions on fees and expiration, I think readers will also find it interesting that only five states, California, Montana, New York, Oklahoma and Washington, have specific laws dealing with what happens to a gift card’s value when the card issuer goes bankrupt. However, as noted in the LA Times article, these State laws regarding bankruptcy and gift cards have proved ineffective in protecting gift card holders in bankruptcies. This may be why some are pushing for action at the federal level from the Federal Trade Commission.
Readers, from looking at the map, does your state have laws regarding gift card fees and expiration? If so, do they go far enough? If not, what would you like to see done? Please post your comments in the comments section below.
