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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: 2009-11-24 00:00:00
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HOLIDAY SHOPPER ADVISORY: NOT ALL GIFT CARDS ARE PROTECTED

ST. PAUL, MN - According to the National Retail Federation, gift cards are going to be this year's most popular holiday gift. For consumers who purchase gift cards with hidden fees or expiration dates, however, they could again be this year's biggest holiday rip-off.

In Minnesota, a two-year-old state law has offered some important protections to Minnesota consumers by prohibiting expiration dates and fees on gift cards. But the law only goes so far, according to the law's chief author, State Rep. Joe Atkins of Inver Grove Heights. Atkins, who chairs the House Commerce Committee, warns that to get their 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

According to the most recent National Retail Federation gift card survey, it is estimated that holiday shoppers will spend over $23 billion on gift cards this holiday season alone, making it far and away the most popular holiday gift.

"Gift cards are great," said Rep Atkins. "But rather than being the gift that keeps on giving, they can often be the gift that keeps on taking. Expiration dates and fees erode the value of the cards, sometimes leaving the recipient with nothing. That’s why we passed Minnesota's law, and why consumers need to be careful about what sort of gift cards they purchase. Consumers ought to get what they pay for."

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