Critics complain that gift cards aren’t personal. Giving A $25 gift card to Barnes & Noble doesn’t quite say: “I know you.”
Proponents argue that gift cards allow the recipient to pick out the perfect gift. The hassle of returning gifts just isn’t worth it. Gift cards, they say, are the way to go.
Here are my two cents on the great debate over gift cards:
In today’s economy, buying gift cards is risky. Even major chains are in danger of going bankrupt, downsizing, or closing their doors entirely. Just ask K-B Toys and Circuit City, as soon as they went into bankruptcy all of their gift cards holders were left in the cold.
If you buy your sister-in-law a gift card to her favorite store, you will be throwing money down the drain if the store closes and is unable to honor the gift card.
Don’t take the chance with that gift card in this economy… I wouldn’t.
If you have had a horror story, share it with your fellow readers and comment below. Thanks!
I still give gift cards that are Visa, Mastercard, Discover Card and American Express Pre-paid cards. This helps in several ways. 1) they can be used just about anywhere, so your not locked in to any one store/chain. and 2) I can get the visas at my credit union for a $1.50 fee. The others cost $2.50 – $4.95. 3) They can be reloaded. Some can be converted to have a naame on them. Thus I feel they are the perfect gift!
Not quite a horror story, but anoying nonetheless. I was sent $100.00 in Gift (gas) Cards for BP Oil. All to find out, without any warning except a very tiny sign in the window, that they were no longer a BP station. Sign in front was not changed yet. All 3 BP’s in my area were sold to different companies. None of them would honor my cards and the nearest BP was 45 miles from my home. Beware. It could happen to any business without warning. Thanx
I received a gift card for $300 to Macy’s, from a friend at a private party. I put the envelope with the card and my camera on a chair, and by the end of the evening, the card was gone. The next day when I went to Macy’s the card had already been used. If my friend had given me a personal check, the gift could have been recovered, as it was a gift card and no identification or name is involved, the gift was gone.