Consumer Payment Card News

Store Gift Cards

A new survey reveals that 92% of retailers have no fees associated with gift cards, however card issuers of VISA-, MasterCard-, Discover- and American Express-branded gift cards are more likely to expire and tack on activation, maintenance, inactivity, transaction fees and fees for balance inquiries. The National Retail Federation’s fifth annual “Gift Card Survey” also found that gift card sales will total $26.3 billion this holiday season compared to $24.8 billion in 2006. Additionally, the average consumer will spend more on gift cards than they did last year ($122.59 vs. $116.51 in 2006). The NRF encourages consumers to shop smart for gift cards and to ensure that a recipient receives the cards full value, shoppers should only buy gift cards from reputable retailers (not online auction sites). Gift cards sold through online auction sites are more likely to be counterfeit or obtained through fraudulent means. Additionally, consumers should keep their original receipt with the value of the card they purchased in case there are any problems with the card when it is redeemed. For more information visit: “”:

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