Consumer Reports recently announced a public education campaign aimed at creating awareness of the pitfalls associated with gift cards. The campaign will also include an online "holiday shopping hub" with tips on how to avoid gift card problems and allow users to share stories of gift-card woe.
The group also released survey results that found 62 percent of consumers are planning to buy gift cards this season. Last year, the survey said, 27 percent of those who received gift cards never used them.
The majority of respondents said that they did not have the time to redeem the cards. Not finding anything they wanted was another popular excuse. Nearly a third said they forgot about their cards.
Consumer Reports advises shoppers to be wary of bank cards, which tend to have higher fees and restrictions than other types of gift cards. They also recommend checking the merchant's prices to ensure the amount on the card you purchase will be enough for the recipient to buy something without having to supplement their own money.
Other tips to help steer clear of gift-card headaches:
- Register the card
- Use the card quickly, especially if it will expire or carries a maintenance fee
- Spend the entire amount of the card.
