Posted: December 14th, 2009 | Author: Joe | Filed under: Tips | Tags: Free, Gift Cards, Tips | 1 Comment »
According the National Retail Federation, gift cards are expected to be the most requested gift this year. Here are 6 ways you can get one free… well, mostly free. 
1. Social media sites.
Friend and follow your favorite company on Facebook and twitter and you’ll be first in line for special offers presented only on those sites. For example, when Sears joined Facebook last year, the company offered $5 gift cards to the first 10,000 people who became fans within a given time frame. After rapidly reaching that goal, they then offered $10 coupons for another group of fans. My wife has become a fan of numerous companies and received first chance opportunities on sales and other discounts before the “general public”, so it’s not only useful for gift cards.
2. Earn points by shopping.
Sites like MyPoints.com offer points for shopping online and taking surveys. Once you’ve earned enough points, you can trade them in for gift cards to places like CVS and Amazon.com. The only problem is that it takes more than 3,500 points to qualify for one of those cards. But registration is free, and if you’re shopping online anyway, it might be an extra perk.
3. Go for a test drive – literally!
With auto sales in the basement level, dealerships are always looking for new ways to get people in the showroom. Gift cards, it seems, have proven to work well. Both Ford and Dodge dealers gave away $50 gift cards to anyone who simply took their latest models for a test drive in 2008. While these are national deals, local dealerships are having their own promotional giveaways too, so it pays to check around.
4. Give a little red, to get some green.
Yes, it seems that even the Red Cross is giving out gift cards. A recent blood drive in Aurora, Ill. featured a raffle for a $500 gift card to Best Buy. The NYC Blood service even gave out iTunes gift cards at a September blood drive.
5. Switch drugstores.
Drugstores are in fierce competition with each other over customers. This competition has become even stronger with stores like Wallmart and Target offering $4 generics. To help sway customers to switch, drugstores have started offering gift car incentives to those who switch. For example, Rite Aid offer coupons for a free $25 gift card to its stores for each prescription you transfer. Walgreens and CVS have offered similar deals in the past.
6. Spend until you earn it.
Many retailers are rewarding customers who buy frequently, or over a certain amount with gift cards. L.L.Bean recently offered a free $10 gift card with any purchase of over $25, and Kohl’s has a similar reward of $10 in “Kohl’s Cash” if you spend over $50. While these aren’t really free, and in some cases aren’t even gift cards, they can be a nice stocking stuffer if you plan on doing your shopping at these stores.
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Posted: December 13th, 2009 | Author: Joe | Filed under: spending, Tips | Tags: Buying, Gift Cards, Tips | No Comments »
By now we’ve all heard about the various “gotchas” often applied to gift cards. We’ve all heard the warning bells of hidden fees, expiration dates and the like, but how do you know if that gift card you’re about to buy is booby trapped?
Well, here’s a really simple and handy web site you probably want to check out.
It lists many popular gift cards from credit card issuers, retailers and even restaurants. It then breaks down whether each has purchase fees or if it can expire. There’s also a link to the issuer’s site to buy a card online and the table lists whether the card is shipped for free or not.
This can potentially save a lot of headache and hassle this gift giving season, for you and the gift recipient!
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Posted: December 12th, 2009 | Author: Joe | Filed under: Credit | Tags: CARD, Credit Card Accountability Responsibility and Disclosure Act, Credit Cards, Gift Cards | 1 Comment »
Did you know that the Credit Card Accountability Responsibility and Disclosure (CARD) Act of 2009 has provisions that affect gift cards? Neither did I. But on Aug. 22, 2010, the following provisions take effect for gift certificates, store gift cards and general-use prepaid cards (usually branded by Visa or MasterCard).
Fee and expiration limits.
- Inactivity fees can only be applied after the gift card or gift certificate goes unused for 12 months or more.
- Terms and fees must be disclosed to the user in advance.
- Only one fee per month may be applied.
- Gift cards and certificates can’t expire until five years after initial issuance, or since it was last loaded with money – whichever is most recent.
- Fees not covered by the CARD act include issuance fee and sales fee for purchasing the card.
Hidden increase in fees.
While this sounds great, there is likely going to be an increase in the fees that are still allowed. That’s because it’s going to cost issuers much more to simply track and manage dormant cards for up to five years – 3 years longer than the typical expiration period today.
According to Aite Group LLC, a Boston-based research firm focused on the financial services industry, there are approximately 50 different fees that can be applied to gift cards. The most common are for each transaction, card replacement, call to customer service and checking the card balance.
These provisions do not cover paper gift certificates, re-loadable cards not marketed as gift cards (such as Visa or MasterCard prepaid cards), telephone cards, and loyalty award or promotional gift cards.
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Posted: August 12th, 2008 | Author: Joe | Filed under: spending | Tags: Bankruptcy, Gift Cards, Sharper Image | No Comments »
By now, you probably already know that many gift cards charge a fee against the unused balance if the card is not used by a year after purchase. But the recent bankrupting of Sharper Image shows a new peril with giving the gift of card.
Specifically, what happens to the card holder if the company files chapter 11?
According to the consumer reports blog :
“Some three weeks after the specialty retailer filed Chapter 11 bankruptcy on Feb. 19, owners of gift cards and merchandise certificates are facing confusing options about what to do with those obligations, which the retailer initially said it wouldn’t honor, at least for the time being.
On March 7, the U.S. Bankruptcy Court for the District of Delaware granted the retailer’s request to resume honoring its cards and certificates-but only for customers who make a purchase of at least twice the value of the card or certificate. So to use up a $50 gift card, a customer would have to buy at least $100 in merchandise.”
In short, a big legal mess has ensued. The cards are either no longer worth the plastic of which they’re made, or they are at least worth considerably less than face value.
This leaves card holders with 3 options:
- Bust out the scissors and practice a little gift card origami.
- Run, don’t walk, to your nearest branch of the store and buy what you can with what’s left of the card.
- Try to sell it at http://plasticjungle.com/, where people can buy, sell or trade gift cards.
Technorati Tags: sharper image, bankruptcy
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