Gift cards have become popular ways of allowing consumers to buy something they really want. But, this holiday season gift cards have been in the news for other reasons. We have heard so many stories about using caution with gift cards due to store going out of business that we ask ourselves how safe are gift cards these days? With just a little bit of precaution and some common sense, gift cards should still be a safe gift this holiday season and always. Our friends from Retrevo.com, a blog about gadgets and electronics, give us some tips on how to make the best out of the gift cards we receive or are about to give as presents.
Don't Become an Unsecured Creditor
This year there is an added caution; if you buy a gift card from a retailer that goes on to file for bankruptcy (like Sharper Image and Circuit City) you could be left holding a worthless plastic card. The best advice is to use the card as soon as possible. Bank gift cards can be a safer bet however they tack on extra fees and charges.
Beware of Gift Card Scams
There have been reports of gift card scammers collecting gift card numbers off gift cards like a Best Buy gift card or a Starbucks gift card in racks at supermarkets, When you purchase the card at the local Safeway or anywhere else, your ID becomes active and now the scammers can use the card number online and drain the funds.












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