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Question : I thought there was a law that gift cards can't expire. I bought a $25 gift certificate at a popular, long-standing Korean supermarket, paying cash to save them the credit-card ...
Some provinces and states in North America (e.g. California, Ontario, Massachusetts, Ohio, Washington) have enacted laws to eliminate non-use fees or expirations, [17] but because the laws often only apply to single-merchant cards [18] buyers have to review the gift card conditions prior to purchase to determine exact restrictions and fees. [19]
Furthermore, because of the negative impact on sales that such policies can have, most merchants have adopted and even advertise a no fee, no expiration policy for their gift cards, whether or not state laws require it. In 2011, an estimated 2.5% of gift cards were subject to an expiration date and 2.7% to post sale fees. [20]
The Credit Card Accountability Responsibility and Disclosure (CARD) Act of 2009 is a federal statute passed by the United States Congress and signed by U.S. President Barack Obama on May 22, 2009. It is a comprehensive credit card reform legislation that aims "to establish fair and transparent practices relating to the extension of credit under ...
Toys R Us said this week that its gift cards will expire in 30 days as the company prepares to close or sell its more than 700 US stores.
After filing for Chapter 11 bankruptcy last week, the chain is now contending with the expensive possibility of customers trying to redeem $49.7 million of gift cards that never expire. The cards ...
An expiration date or expiry date is a previously determined date after which something should no longer be used, either by operation of law or by exceeding the anticipated shelf life for perishable goods. Expiration dates are applied to some food products and other products like infant car seats where the age of the product may affect its safe ...
Remember that expiration dates apply to the physical card, not the account. So, when your credit or debit card is set to expire, this doesn’t mean your account is coming to an end.