New law in California for cashing gift cards

[ChaoZ]

http://www.yubanet.com/artman/...sh/article_72640.shtml

FTA: Starting Jan. 1, 2008, you can exchange your gift cards for cash if it's below $10.

 

[SlitheryDee]

Pretty cool. Typically when you get in the <$10 range you have to add some of your own money and maybe get something you didn't necessarily need to fully utilize a card.

I don't really think that the government should be regulating businesses to this extent though. Gift cards are items that retailers choose to offer and consumers choose to purchase. It's not like anyone's cheating here, so why should the government step in?

 

[dds14u]

How reliable is this source?

 

[RadiclDreamer]

Originally posted by: SlitheryDee
Pretty cool. Typically when you get in the <$10 range you have to add some of your own money and maybe get something you didn't necessarily need to fully utilize a card.

Thats part of the appeal to retailers to sell them, you either buy a little more or they get to keep the remainder

 

[BoomerD]

I don't like the fact that many of them expire fairly quickly. They should be as good as cash as long as the business is open. After all, $50 today will buy much less in 2-3 years...and they are usually bought at the face value, not at a discount.

 

[her209]

Originally posted by: BoomerD
I don't like the fact that many of them expire fairly quickly. They should be as good as cash as long as the business is open. After all, $50 today will buy much less in 2-3 years...and they are usually bought at the face value, not at a discount.

I think California passed a law earlier against expiring gift cards/certificates.

 

[gwai lo]

I don't have gift cards that expire... o_0 and I'm from LA... connection?

 

[goog40]

I thought California already had a law that's been around for years that forced retailers allow the cashing in of gift cards (not just for under $10 either, any amount).

 

[mjrpes3]

Originally posted by: SlitheryDee
I don't really think that the government should be regulating businesses to this extent though. Gift cards are items that retailers choose to offer and consumers choose to purchase. It's not like anyone's cheating here, so why should the government step in?

Because it's cheating over small sums. Granted it's only cheating when looked at from the perspective of the consumer; outside of that it's called fair business. But sometimes the government, every so often, sides with the consumer.

 

[DangerAardvark]

Who but douchebags give people gift cards anyway? A gift card is just an attempt to look like you put some thought into a gift without actually doing so. "I hear you like... things. Here's a gift card to Walmart."

 

[deadlyapp]

Yeah, i got the memo at sears about a month + ago.

It used to be anything under $5 had to be cashed out.

 

[Suspicious-Teach8788]

Originally posted by: her209

Originally posted by: BoomerD
I don't like the fact that many of them expire fairly quickly. They should be as good as cash as long as the business is open. After all, $50 today will buy much less in 2-3 years...and they are usually bought at the face value, not at a discount.

I think California passed a law earlier against expiring gift cards/certificates.

True but this applies to CA based companies only? I remember getting some gift cards that drop in value. Maybe the law doesn't prevent those, but it really sucked to find out my gift card had like $2 on it afterwards.

 

[txrandom]

I wish my relatives would get me nothing rather than gift cards. Gift cards are dumb.

 

[erub]

Originally posted by: txrandom
I wish my relatives would get me nothing rather than gift cards. Gift cards are dumb.

if they are so dumb, why dont you just sell them on CL for 80% of their value (ppl will be rushing to line up to buy them)

 

[AnimeKnight]

Originally posted by: txrandom
I wish my relatives would get me nothing rather than gift cards. Gift cards are dumb.

then get nothing.

I for one love gift cards. At least this way I could combine them and get something that I really want/need. Instead of getting something that is not useful to me.

 

[Pepsei]

Originally posted by: DangerAardvark
Who but douchebags give people gift cards anyway? A gift card is just an attempt to look like you put some thought into a gift without actually doing so. "I hear you like... things. Here's a gift card to Walmart."

yeah, i prefer cash over gift cards.