DES MOINES, IA (12/05/2013)(readMedia)-- During the holiday season gift cards are popular presents. State Treasurer Michael Fitzgerald reminds Iowa consumers to shop smart when it comes to gift cards. "According to the National Retail Federation, 8 in 10 shoppers will give a gift card this holiday season.* Nationally, shoppers will spend an average of $163 on gift cards, up 4% from last year," Fitzgerald said. "Each year, over a billion dollars in gift cards go unclaimed because cards are lost or forgotten.** Don't let that happen to your gift. These tips can help you protect the value of the gift you give this season."
Tips for Gift Card Purchasers:
"I plan to give some gift cards this year, but will always warn them to use it right away," Fitzgerald said. Even if there is an expiration date on a gift card, retailers are required to honor all of the gift cards they sell for five years.
Consumers with questions or concerns regarding an expired gift card that a retailer will not honor are encouraged to contact the state treasurer's office. Please provide a copy of the gift card and a brief letter stating the circumstances. The information can be sent to the address below or emailed to upreport@iowa.gov.
Michael L. Fitzgerald
Treasurer of the State of Iowa
Unclaimed Property Reporting Desk
State Capitol, Des Moines, Iowa 50319
*http://www.nrf.com/modules.php?name=News&op=viewlive&sp_id=1694
** http://business.time.com/2012/01/09/billions-wasted-do-gift-cards-make-sense-when-so-many-go-unused/
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