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Gift card expiration dates targeted
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| Contributor | CBlock941 |
| Last Edited | CBlock941 Jun 21, 2007 11:37am |
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| Category | Proposed Legislation |
| Media | Newspaper - La Crosse Tribune |
| News Date | Thursday, June 21, 2007 05:00:00 PM UTC0:0 |
| Description | MADISON, Wis. — Deb Held was saving a Visa gift card she got from her employer so she could treat her mom to lunch.
But when Held called the bank to see how much was left, she was told it was all gone. The card, valid for a year, had expired two weeks before, and she was out $80.
“I felt cheated,” the 48-year-old said Wednesday from her home in Sturgeon Bay where she works for Certified Scale. “Maybe I should have read the small print on the back, but I just didn’t realize it held an expiration date and I could lose it.”
Held is not alone. About 10 percent of gift cards go unused each year. And with the market booming for the cards, that amounts to about $11 million a year in Wisconsin that don’t get used.
Powerful lobbying interests in Wisconsin representing banks, retailers, restaurants, grocery stores and taverns are fighting to keep expiration dates on cards, even as one lawmaker and the state’s consumer protection agency wants to ban them. |
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