A credit card is a card to say “these people will pay you and I’ll owe them money”
With a gift card, you’re choosing items that have already been paid for, the company already got the money and you’re just picking out what you want to buy with it
A gift card is an interest-free loan to the vendor.
With a quite high probability that the loan is never asked back.
Do people actually lose/forget about gift cards?
All the time.
47% of American adults have unused gift cards. The average value per person is $187, and the total value of these unspent funds in the US annually is approximately $23 billion.
Higher-income individuals are most likely to have unredeemed gift cards, with 62% of this demographic reporting unused cards.
Nearly 29% of Americans have kept a gift card so long that it expired, and 25% have lost at least one gift card.
I think that’s why companies sell gift cards. They get money and half the time don’t have to actually give away any merchandise
They don’t expire in Canada
Or in California. For the USians, you can probably call and complain that you live in CA and have them reissue it.
In CA, they also have to pay out in cash if it’s less than $10 and you request it.
🤣 TIL
Some gift cards are also not a very good fit. I know that from personal experience ;)
I guess it’s easier to write off if you’re employer as you can get an invoice for giftcard. Also sometimes shops will offer you a gift card uf you’re returning something outside of the customary time period of 30 days, but it’s better than not being able to return.
What’s vile is gift cards with expiry date which I cant believe is legal, even in the EU!
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