Be wary of gift cards

[nitroglycol]

Another sign of the times:

Experts are issuing buyer beware warnings advising consumers to avoid buying gift cards this year.

With a growing number of retailers going under from the strain of the recession, holiday gift cards run the risk of not being honoured with companies in the midst of “restructuring.”

“We’re not crazy about them in general, but, particularly this year, until merchants become serious about protecting their funds, buy a real gift,” said Anthony Giorgianni, money advisor for Consumer Reports.

It’s a warning that also stems from an e-mail that’s gone viral in cyberspace. The e-mail, of unknown origin, advises consumers to avoid buying gift certificates at several major retailers because they’ve either filed for bankruptcy or are on the brink of going under.

From the Portage Daily Graphic.

[GRG55]

Re: Be wary of gift cards

Another sign of the times:

From the Portage Daily Graphic.

My wife bought something at the local store of a national retail chain. It came with a mail in promotion for a $20 rebate. She sent it in, and got a cheque for $20 from the third party company hired by the chain to manage these promotions. Cheque bounced. Our bank charged us $7.00 for the privilege. Retail chain sent her a $20 gift card as replacement. We're still out the $7.00. No idea what we can buy that we might actually need for no more than $20 at said retailer.

Now I know why I absolutely hate shopping [except for tools ].