EmailSee Also
For an explanation of how we rank reviews, see our ratings criteria page.
by Members of the Montgomery County Office of Consumer Protection
For their fifth annual gift card report, the Montgomery County Office of Consumer Protection in Rockville, Maryland reviews the policies, packaging and inserts, and websites of 22 major retailers and… restaurant chains as well as 20 bank-card issuers. Retail cards are either "recommended" or "not recommended." Each of the four "not recommended" retail cards, however, has changed their policies since this article was published; they no longer carry fees or expiration dates. Bank-issued gift cards are not rated, but a list of their fees, expiration dates, and disclosure issues is included.
by Ellen Cannon
Bankrate.com's third annual survey of gift cards looks at the four credit-card issuers along with top nationwide retailers and shopping mall operators and reports on their gift card terms and fees. Bankrate… finds that all of the bank-issued cards have fees and expiration dates, while most store-issued cards do not. The pros and cons of each are discussed and a comparison chart of the 31 cards that were examined is included.
by Editors of Consumer Reports
Editors of Consumer Reports discuss the pitfalls and "gotchas" behind gift cards. Bank-issued gift cards are said to be more troublesome than most retail-issued cards. In either case, editors strongly urge… consumers to read the fine print, which they warn can often be hard to find. Editors suggest avoiding bank-issued cards and insist that the balances should be used quickly to avoid fees. Terms of a few cards are mentioned in the article, but none of them are rated.
by Consumers Union Financial Services Team
Consumers Union (the organization that publishes Consumer Reports) lists a summary of the key features of gift card consumer protection laws state by state. Laws vary greatly by state, with some severely… limiting fees and others allowing any terms with proper disclosure. The states offering the strongest consumer protection include California, Connecticut, Florida, Minnesota, Montana and Rhode Island.
by Editors of CreditCards.com
The details of 41 major gift cards are listed in a chart by the name of the retailer. Retailers include Wal-Mart, Target, Best Buy and Circuit City, among others. The chart includes information about… expiration dates, fees, protection against loss or theft, and available denominations. Notations are also made regarding whether or not PIN transactions can be made with the card, which cards can be refilled and which retailers offer electronic cards. The gift cards listed are not ranked or rated in any way.
by Joan Goldwasser
Joan Goldwasser warns consumers of bankruptcy trends in the retail sector. Several companies have recently filed or are rumored to be filing for bankruptcy in the near future. When this occurs, gift cards… for those particular stores generally become unredeemable. Gift cards from The Sharper Image and The Bombay Company are now worthless. She reports that "bankruptcy rumors are swirling around Circuit City."
by Cliff Edwards
by Anne Marie D. Lee
by Lori Chordas
by Alex Palmer
In this article, representatives from bank- and retailer-issued gift card groups refute the findings of a 2007 Consumer Reports article on gift cards, saying that it simplifies issues and overlooks positive… experiences. A consumer satisfaction survey is quoted, as are purchasing statistics that prove the popularity of these cards with purchasers and recipients. Specific gift cards, however, are not mentioned.
by Stephen J. Dubner, Steven D. Levitt
by FTC Staff
by OTS Staff
The Office of Thrift Supervision (OTS), which regulates banks and is part of the Department of the Treasury, recommends that consumers check the terms and conditions of gift cards before purchasing or using… them. Various terms and fees are discussed. Special consideration should be taken to ensure that cards are secure and haven't been tampered with. If complaints can't be resolved with the card issuer, the author suggests contacting the OTS or the FTC. Specific gift cards are not mentioned.
by Mindy Fetterman
by Ray Martin
Ray Martin, personal finance adviser for "The Early Show," discusses popular gifts for the holiday season, namely gift cards. He explains some of the benefits of giving gift cards and points out terms to… watch out for, such as expiration dates, maintenance fees and usage limitations. Martin notes that store-issued cards generally have better terms than bank-issued cards but suggests that improvement may be on the horizon.
by Kevin Davis
by Maya Dollarhide
Dec. 3, 2007
by Sarah Tolkoff
Sarah Tolkoff spotlights a new business startup, Leverage Inc., which serves the needs of gift card purchasers and recipients. The company runs a website designed to manage gift cards and loyalty programs… for consumers. The site tracks balances on each card, allows users to swap cards with each other, and even spotlights promotions for stores that the user has cards or rewards for. The website also sells gift cards and pays interest on cards that can be electronically verified and updated. Specific gift cards are not discussed in this article.
by Judy Hedding
by Drew McLellan
by Ed Dickson
by Daniel Gross
In this older article, Daniel Gross explains that gift cards appeal to givers because they are easy and more appropriate than cash. He also points out that they spare recipients from unwanted gifts.… However, Gross suggests that retailers benefit most from gift cards because they are like an interest-free loan and when recipients do use them, they often spend more than the face value of the card. No specific cards are mentioned or reviewed.
by Joe Light
by Connie Robbins Gentry
|
This is our assessment of the review’s relevance, clarity of testing and thoroughness.
Read more about our Ratings Criteria by clicking the link at the top of the page.
|
||
