Comments on: This Christmas, Give Cash, Not Gift Cards

By: Gift Cards, Bankruptcies and Store Closings

Gift Cards, Bankruptcies and Store Closings — Mon, 29 Dec 2008 12:01:05 +0000

[...] Christmas, I recommended giving cash instead of gift cards to cut out some of the worry and increase possibilities for you redipient. But in some cases, gift [...]

By: What to Do With Gift Cards You Don’t Want

What to Do With Gift Cards You Don’t Want — Tue, 23 Dec 2008 12:03:19 +0000

[...] goes unclaimed. I’m a big proponent of giving cash if you’re going to give money and dressing it up if you like the presentation of a gift card. Including notes if you have intentions for where [...]

By: Have a Frugal Holiday Season Round Up | Oh My Aching Debts

Have a Frugal Holiday Season Round Up | Oh My Aching Debts — Fri, 12 Dec 2008 14:01:43 +0000

[...] Micah has some tips and warnings for giving the gift of a gift card. In these trying economic times, it may be wise to heed her [...]

By: Christmas Budgeting Tips: Avoid Overspending At This Expensive Time Of Year | Bible Money Matters

Tue, 25 Nov 2008 16:51:34 +0000

[...] This Christmas, Give Cash, Not Gift Cards [...]

By: mrsmicah

mrsmicah — Mon, 24 Nov 2008 17:24:19 +0000

Good point, Ariel. The problem with Circuit City cards now is that the holders will have fewer opportunities to use them, depending on whether their local stores are closing.

Actually, the availability of local stores is something to consider with gift cards anyway. I once got one to Target, but at that point I was a 40-minute drive from any Targets…took me a while to use.

By: Ariel

Ariel — Mon, 24 Nov 2008 13:52:22 +0000

I think I must agree. However, I did want to let you know that my husband works for Circuit City. They are not going under. Their ‘bankruptcy’ is more of a payment extention than anything else. They are closing many stores but they are not going out of business…. Just in case anyone has gift cards for Circuit City, they are still useable. Just check with your local Circuit City and confirm that that location is still open.

By: Dad

Dad — Sat, 22 Nov 2008 02:36:51 +0000

This is a risky year for gift cards beside the other disadvantages they have. Remember, a company does not have to literally go under (chapter 7, closed) to lose them. It is possible with Chapter 11 reoganization bankruptcy for the bankruptcy court to suspend redemption of gift cards. A gift card hold is like a creditor but one who is low on the payback schedule.

To asgreen. I’ve done that too. I don’t know about American Express but do read the terms before giving. It depends on the bank issuing them (Amex is probably just Amex). There may be fees if you don’t use them in a certain time and they may lose value after a period of time. We shopped around and avoided that hassle.

By: Frugalchick

Frugalchick — Fri, 21 Nov 2008 21:14:28 +0000

Cash and checks are always exciting for me!

By: bluntmoney

bluntmoney — Fri, 21 Nov 2008 18:27:39 +0000

Good points, and as my dad says “green is always the right color”.

By: asgreen

asgreen — Fri, 21 Nov 2008 18:08:24 +0000

When I need to give a gift card (when cash just won’t work) I use American Express gift cards that can be used anywhere.