BBB Bureau Briefs: Gift Cards & Bankruptcy - Newschannel 6 Now | Wichita Falls, TX

BBB Bureau Briefs: Gift Cards & Bankruptcy

The BBB warns the drawbacks to buying gift cards following Toys R Us store closures. (Source BBB) The BBB warns the drawbacks to buying gift cards following Toys R Us store closures. (Source BBB)
WICHITA FALLS, Tx (RNN Texoma) -

Monica Horton with the Better Business Bureau joined Anchor Jake Garcia on Monday during our noon newscast to speak about gift cards and their drawbacks when the store goes out of business.

Horton said they may seem like the perfect gift for a friend or family member that is hard to shop for. But for many, like Toys R Us customers, they can have their drawbacks. 

Horton said under normal circumstances, gift cards are valid for years or indefinitely. For Toys R Us gift card holders, they now have 30 days to use their cards. 

When a store files for bankruptcy, gift card holders are out of luck or with limited options, says Horton, but she offered the following tips when it comes to buying gift cards.

BBB Tips: Gift Cards and Bankruptcy

· Before buying a gift card, look into the retailer’s financial condition: If news articles report that a company is on shaky ground, it might be best to purchase a gift card from another retailer.

· Check the terms and conditions. A gift card’s terms may allow the card to be used at another business location.

· Purchase gift cards with a credit card, if possible: Your credit card company may be able to help recover money lost if a business goes under. Some retailers, however, require gift cards to be purchased with cash.

· Use gift cards as quickly as possible: While you may have years – or forever – to use the gift card, that doesn’t mean you should wait that long to spend it.

For additional BBB tips on avoiding gift card scams visit www.bbb.org.

Copyright 2018 RNN Texoma. All Rights Reserved.
 

  • News HeadlinesNewsMore>>

  • AP sources: Prosecutors preparing charges against Cohen

    AP sources: Prosecutors preparing charges against Cohen

    Monday, August 20 2018 1:18 PM EDT2018-08-20 17:18:18 GMT
    Monday, August 20 2018 6:54 PM EDT2018-08-20 22:54:40 GMT
    (AP Photo/Richard Drew, File). FILE - In a Monday, July 30, 2018 file photo, Michael Cohen, formerly a lawyer for President Trump, leaves his hotel, in New York. Attorney Barbara Jones revealed in a letter filed Thursday, Aug. 9, 2018, in Manhattan fed...(AP Photo/Richard Drew, File). FILE - In a Monday, July 30, 2018 file photo, Michael Cohen, formerly a lawyer for President Trump, leaves his hotel, in New York. Attorney Barbara Jones revealed in a letter filed Thursday, Aug. 9, 2018, in Manhattan fed...

    Two people familiar with the federal investigation of Michael Cohen say prosecutors are preparing criminal charges against the former Donald Trump lawyer that could be brought before the end of the month.

    Two people familiar with the federal investigation of Michael Cohen say prosecutors are preparing criminal charges against the former Donald Trump lawyer that could be brought before the end of the month.

  • Colorado man charged with murder in deaths of wife, 2 kids

    Colorado man charged with murder in deaths of wife, 2 kids

    Monday, August 20 2018 5:53 PM EDT2018-08-20 21:53:32 GMT
    Monday, August 20 2018 6:53 PM EDT2018-08-20 22:53:47 GMT
    (AP Photo/David Zalubowski). A photograph sits amid the tributes as they grow outside the home where a pregnant woman, Shanann Watts, and her two daughters, Bella and Celeste, lived Thursday, Aug. 16, 2018, in Frederick, Colo. The woman's husband, Chri...(AP Photo/David Zalubowski). A photograph sits amid the tributes as they grow outside the home where a pregnant woman, Shanann Watts, and her two daughters, Bella and Celeste, lived Thursday, Aug. 16, 2018, in Frederick, Colo. The woman's husband, Chri...
    Prosecutors have charged a Colorado man with murder in the deaths of his pregnant wife and their two young daughters.
    Prosecutors have charged a Colorado man with murder in the deaths of his pregnant wife and their two young daughters.
  • Day at the beach turns to panic, tragedy; married couple die

    Day at the beach turns to panic, tragedy; married couple die

    Monday, August 20 2018 3:59 PM EDT2018-08-20 19:59:50 GMT
    Monday, August 20 2018 6:51 PM EDT2018-08-20 22:51:37 GMT
    Four swimmers and a good Samaritan who also got caught in the current were pulled to safety, but a married couple died. (Source: Pixabay)Four swimmers and a good Samaritan who also got caught in the current were pulled to safety, but a married couple died. (Source: Pixabay)

    They came on a boat, Jet Skis and a paddleboard, but couldn't help 2 swimmers who died.

    They came on a boat, Jet Skis and a paddleboard, but couldn't help 2 swimmers who died.

Powered by Frankly