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>>

  • Director: FBI won't repeat mistakes noted in watchdog report

    Director: FBI won't repeat mistakes noted in watchdog report

    Monday, June 18 2018 2:40 PM EDT2018-06-18 18:40:23 GMT
    Tuesday, June 19 2018 1:53 AM EDT2018-06-19 05:53:12 GMT
    (AP Photo/J. Scott Applewhite). Justice Department Inspector General Michael Horowitz, left, and FBI Director Christopher Wray wait to testify as the Senate Judiciary Committee examines the internal report of the FBI's Clinton email probe and the role ...(AP Photo/J. Scott Applewhite). Justice Department Inspector General Michael Horowitz, left, and FBI Director Christopher Wray wait to testify as the Senate Judiciary Committee examines the internal report of the FBI's Clinton email probe and the role ...
    The Republican chairman of the Senate Judiciary Committee says the Justice Department has a "serious credibility problem.".
    The Republican chairman of the Senate Judiciary Committee says the Justice Department has a "serious credibility problem.".
  • HPT Duncan: Chisholm Trail Heritage Center & Garis Gallery of the American West

    HPT Duncan: Chisholm Trail Heritage Center & Garis Gallery of the American West

    Tuesday, June 19 2018 12:57 AM EDT2018-06-19 04:57:44 GMT
    (Source:KAUZ)(Source:KAUZ)

    The Chisholm Trail Heritage Center and Garis Gallery of the American West show what life was like for cowboys who embarked on the cattle drive 150 years ago.

    The Chisholm Trail Heritage Center and Garis Gallery of the American West show what life was like for cowboys who embarked on the cattle drive 150 years ago.

  • Supreme Court leaves door open to curbing partisan districts

    Supreme Court leaves door open to curbing partisan districts

    Monday, June 18 2018 10:40 AM EDT2018-06-18 14:40:07 GMT
    Tuesday, June 19 2018 12:45 AM EDT2018-06-19 04:45:45 GMT
    The Supreme Court is resolving partisan redistricting cases from Wisconsin and Maryland without ruling on the broader issue of whether electoral maps can give an unfair advantage to a political party. (Source: CNN)The Supreme Court is resolving partisan redistricting cases from Wisconsin and Maryland without ruling on the broader issue of whether electoral maps can give an unfair advantage to a political party. (Source: CNN)

    The Supreme Court is resolving partisan redistricting cases from Wisconsin and Maryland without ruling on the broader issue of whether electoral maps can give an unfair advantage to a political party.

    The Supreme Court is resolving partisan redistricting cases from Wisconsin and Maryland without ruling on the broader issue of whether electoral maps can give an unfair advantage to a political party.

Powered by Frankly