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Tips to Using Gift Cards Wisely

A Consumer Reports survey found that in 2006, consumers had $8 billion in unused gift cards.  The ABA Education Foundation and American Bankers Association member banks encourage consumers to use the following tips while using gift cards all year long:

1. Only buy gift cards from reputable sources.
2. Understand each retailer’s policies and fees before purchasing gift cards.
3. Spend gift cards within the first year of purchase to receive the full value.
4. Some gift cards expire, so check for an expiration date before you buy.
5. Have the store cashier scan the gift card you’re buying in front of you.
6. Keep the original receipt and write down any toll-free information numbers.
7. Carefully examine the card before you buy it and avoid cards that look suspicious.
8. Personal information is not needed to obtain a gift card and should not be given.
9. Know if the gift card can only be used in the store in which it was purchased or used anywhere.
10. Shop smart and do not buy just to spend a gift card amount.