Common Gift Card Misconceptions Under the New CARD Act

1. Gift cards do not expire:
WRONG!!!! Gift cards will still expire just not before 5 years UNLESS certain criteria are met then the cards can expire whenever the issuer chooses.

2. Gift cards will no longer have fees:
WRONG!!!! Gift cards will have monthly maintenance fees if the cards remain dormant for 12 consecutive months; this means if you forget about the card or lose it it will remain dormant and the issuing bank will slowly drain the funds from it.

3. The longer time frame I have to use the gift card the more likely it is that I will use it:
WRONG!!!! According to psychological research and field tests the reverse is actually true. When given a longer period of time to redeem a coupon almost 75% of the subjects actually let the time lapse and the coupons expire but with the subjects given a shorter time frame almost 83% redeemed their coupons.

4. The new CARD Act was created to help the consumer battle the banks:
WRONG!!!! The CARD Act has been put in place to assist the Government from the costs associated with bringing large corporations to court to battle over the unused funds remaining on gift cards when they expire! The laws now consider the unused funds left on gift cards to be “unclaimed property” and therefore subject to each state’s escheat laws and being most states escheat laws take effect PRIOR to 5 years the states can claim the unused funds BEFORE the banks and corporations get to capture them thereby evading any costly court battles!

So before you buy your next gift card visit www.MatterOfChange.com where our gift cards allow you, the consumer, a much more useful option for your unused funds. Haven’t we already given the Banks enough money already
($700 Billion Bailout)?



www.MatterOfChange.com,
Where honest, caring people go for a gift card that says “I really do care”