As there are questionable predictions as to what the holiday season may bring in terms of consumers who are going to be shopping and spending, there are some areas like gift cards that are highly sought out by numerous holiday shoppers each year, but as we get nearer to the shopping season, officials are warning consumers against scams or drawbacks that may come with certain gift cards, that may have a negative impact on a particular consumer’s purchase. Obviously, consumers are in a position where many may be hesitant to purchase this holiday season or looking for ways to cut costs, and many may turn to these quick gifts as gift cards can be made available on a wide range of products, services, or may simply be used for general purchasing, but consumers also need to understand that as many men and women struggle financially, this opens the door for scams or there may simply be problems that arise if a consumer purchasing a gift card don’t fully understand the total costs.
When it comes to scams though, many consumers may be able to avoid this problem by simply shopping at reputable dealers, but at lesser-known establishments or even when shopping for online gift cards, consumers do need to make sure that they have a retailer or gift card seller who will be accountable if there are problems with their purchase. Again, scams are often a concern of officials as consumers who are struggling financially look for ways to expand during the holidays, but again this can be combated by consumers simply taking caution in where they purchase gift cards for the holidays.
Yet, as reports here in October have shown that consumers are still suffering from problems like personal loan delinquencies, high levels of unemployment, and even higher levels of credit card debt, there are questions as to whether consumers will be using these gift cards or even making general purchases at numbers that may be comparable to last year, but for those who are using gift cards for the holidays, many consumer advocates and financial professionals often point out that there may be some costs that come with these cards that could either reduce the value of the purchase or cost the consumer more than the value of the card.
We have seen recent increases in debit card fees, and as some retailers are also looking to recoup losses that may be the result of certain financial setbacks that they have seen over the past months, cards at the present time, be they debit cards, credit cards, or gift cards, need to be carefully analyzed by users so that a consumer is able to get the most out of their card and its use. In this area of gift cards, consumers have seen some changes that are beneficial in that gift cards now will not expire for at least five years after they are purchased, but there are some problems that gift card recipients may face as well.
Those who purchase gift cards need to watch out for fees, but recipients also need to be aware of some charges that may arise if they do not use the card for a set period of time, as some gift card issuers may be able to levy a fee if a card is not used in at least a year of being activated, but this may vary from one card issuer to another. However, what advisers are also pointing out should be the case when it comes to opting for gift cards for the holidays is that consumers should, once again shop at reputable dealers, keep receipts of the purchase so that if any arguments over the amount on the card arrives there is evidence to support the buyer, and again buying reputable gift cards in general, like those available at well-established retailers or businesses, can help shoppers avoid scams or any problems that may occur when it comes to using this type of card.
