Gift Cards: To Avoid Or Not?
by Mike KrumboltzNov 18, 2008
Nothing says "I have absolutely no idea what to buy you, but I guess your friendship is worth about $50" quite like a gift card. However, this holiday season, buyers would do well to beware. USA Today reports that due to all the economic uncertainty, "gift cards can be lumps of coal."
It may seem obvious, but it bears repeating: The economy is tanking and retailers are gasping for breath. Gift-givers should avoid cards from stores that might go out of business. Why? According to USA Today, consumers who hold gift cards from defunct retailers are unlikely to see any sort of compensation.
Fortunately, as Alley Insider points out, "newspapers across the country are warning people about worthless gift cards." In response, some retailers are pointing out that their gift cards are likely to withstand the financial storm. For example, J.C. Penney is stressing that consumers "can feel good about giving a J. C. Penney gift card." Fannie Mae gift cards? Not so much.
Regardless, gift cards remain popular in Yahoo! Search. We looked up the ten most popular cards and discovered an interesting mix of retailers, including some concerned queries for "circuit city gift card balance."
