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Minnesota House of Representatives

State Representative Joe Atkins

583 State Office BuildingState Office Building
100 Rev. Dr. Martin Luther King Jr. Blvd.
651-296-4192

For more information contact: Matt Swenson 651-297-8406

Posted: 2009-11-23 00:00:00
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NEWS COLUMN

HEADS UP HOLIDAY SHOPPERS: PAY ATTENTION WHEN BUYING GIFT CARDS

Remember the Tickle Me Elmo hysteria a few years back? Shoppers were literally trampling each other for the perfect gift. Last year it was the Nintendo Wii that got holiday shoppers all fired up. And this year experts predict that Zhu Zhu Pets Hampsters will have moms and dads knocking down doors. Target, WalMart, and Toys R Us are already sold out.

But this year, like every year, the most popular holiday gift in the nation will be a 3 x 2 piece of plastic - and you don’t have to sleep in the parking lot to get one. According to the National Retail Federation, gift cards will be the top present again in 2009. Last year American consumers spent more than $23 billion on gift cards. And a recent BIGresearch study found that well over half of American adults would like to receive a gift card this holiday season.

Gift cards are great. But for consumers who purchase gift cards with hidden fees or expiration dates, you could again fall victim to this year's biggest holiday rip-off. Expiration dates and fees erode the value of the cards, sometimes leaving the recipient with nothing.

Two years ago, Sen. Katie Sieben and I authored a new law that offers some important consumer protections for Minnesotans who buy gift cards. The law prohibits expiration dates and hidden fees on gift cards sold in our state. But the law only goes so far - and some gift cards aren’t covered under the new law.

In order to get your money's worth, holiday shoppers in Minnesota should:

1. Avoid bank cards and cards issued by credit card companies, which are subject to federal law and still have fees and expiration dates

2. Look closely at the card - even though it may look like it comes directly from the retailer, the small print may reveal it is a bank card with fees and an expiration date

3. Avoid cards where you can see the number on the card before purchasing it - these cards are popular with cyber-thieves who use the number to make online purchases without having to buy the card

If you don’t pay attention, gift cards can soon become the gift that keeps on taking. That’s why we worked with retailers to pass Minnesota's gift card law. Particularly in this difficult economy, it has never been more important to get what you pay for.

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