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Old 01-06-2013, 06:32 PM   #21
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[QUOTE=Dimsumkid;1267120
I find it really hard to believe you can't spend a Visa GC just like cash or a credit card. You have one year to use it just once to stop the fees, then the calendar will reset for another year (may vary by card).[/QUOTE]

Thanks for that tidbit.......didn't know about resetting the clock.......
that caveat .....may vary by card.....is that e.g. MC vs VISA or could it be
different even within VISA depending on issuer?
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Old 01-06-2013, 06:55 PM   #22
Thinks s/he gets paid by the post
 
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Originally Posted by kaneohe View Post
Thanks for that tidbit.......didn't know about resetting the clock.......
that caveat .....may vary by card.....is that e.g. MC vs VISA or could it be
different even within VISA depending on issuer?
We had a store card that did this in the past, the fee period was 6 months so if you used it 1 time, you got another 6 months before the next fee. It's best to check the fine print for the specifics or call the phone# on the card just the make sure. I don't buy VISA GC's due to the high fees. Hurts to spend money just to change the form to "plastic" money. They stated you're better off writing a check as a gift since there's usually no fees involved.
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Old 01-06-2013, 07:56 PM   #23
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Gift cards that have maint fees will sometimes "reset the clock" (restore your full balance) if you call their service # & ask nicely.
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Old 01-06-2013, 11:05 PM   #24
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Originally Posted by Dimsumkid View Post
Federal law now prevents all gift cards from expiring within 5 years of purchase, general purpose cards are more likely to charge so-called "maintenance" or "dormancy" fees, monthly charges that can reduce the card's remaining balance long before the five years are up. By law, these fees can't kick in until at least 12 months after purchase.
Additionally, if you have a store-issued gift card, there may be additional protections under your state laws. Consumers Union put together a fact sheet on consumer protection laws for gift cards for each state.

Link to Consumers Union fact sheet:
Fact sheet on state gift card protection laws

--Linney
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