Phil for Humanity Phil for Humanity
A Guide for the Survival of Humankind and Helping the World, Society, and Yourself.

Gift Cards are Evil

Did you know that some gift cards have expiration dates? So on those dates, any money left on the gift cards transfers to the stores instead of the customers.

Did you know that some gift cards have maintenance fees and other terms that slowly reduces the value of the gift cards? Again, the store profits from these fees.

Did you know that an estimated 10 to 20 percent of all gift cards go unused? Therefore, the companies that issue gift cards collect interest on the customers’ money, even if the gift cards do not expire or decrease in value.

Did you know that when a company goes out of business, typically all gift cards for that company instantly become worthless? Again, the stores collect the money on all outstanding gift cards.

Finally, did you know gift cards are less flexible than cash?

With all of these issues with gift cards, why do people trade perfectly good money for gift cards when cash has none of these issues?

I believe that people should stop purchasing gift cards, since gift cards are less flexible than cash and have several significant issues that cash does not have. Instead, people should just give cash or checks as gifts. This would be much more appreciated by everyone.

by Phil for Humanity
on 12/02/2007

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