Master card gift card SCAM!

self | self

[jaz.357]

$4.95 Activation Charge on a $50.00 gift card.

[GourmetDan]

"Or is there some busybody agency that collects all that money, like with an idle bank account?"

Absolutely. State unclaimed property laws will get the money from the unused cards.

[23 Everest]

#

# Does my American Express Gift Card or American Express Gift Card – Movie Rewards have an expiration date?
No. while there is “valid thru” date indicated on the front of the Gift Card, the Available Funds on the Gift Card do not expire but may be reduced by service fees as described in the question above...

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F.Y.I

[TChad]

Well THAT is a breath of fresh air!

I think so too. I think they make great gifts.

[nkycincinnatikid]

Hey you whiner, the bank lets your friend spend $45! They could have taken $10, $20, are every last fifty dollars. Thats called CAPITALISM , bro. The $45 dollars was a CHRISTMAS gift to you from the bank.

[Minn]

It is part of GAAP, it is seen as simply exchanging one piece of currency for another.

Except the $50 in cash cost the store, well, $50 (in COGS + profit) to obtain. While the gift card cost the store a few cents.

The gift card out in circulation is a potential liability, while what was paid for it is a very real asset. Seems obvious enough.

[mylife]

All I use is American Express.
I dont however participate in any of ancillary programs they offer.

[23 Everest]

There were Blue Chip Stamps too. And remember gas stations would give you glasses for fill ups.

Ah, the good old days.

[mylife]

Or they can shove it.

Cuz I aint playing.

[mylife]

You forgot the /s

[nkycincinnatikid]

I always do forget the /s. much more fun

[Tanniker Smith]

They don’t exist to do things out of the kindness of their heart.

True, but the profit is that you give that card to someone who would not have otherwise spent money in your store. So you're getting the $50 up front to begin with -- and if the gift card gets lost or goes unused, it's pure profit.

So fees like this shouldn't be necessary.

[23 Everest]

me too, use it for purchases in the business I own. I have tons of rewards points. Let me give you all a bit more information, I'm in the construction trade in Kalifornia and my business is off 62%. Yes, I said 62%.

I've had to subsequently reduce my cost to break even and that included layoffs, cutbacks in all departments and renegotiate insurance cost. I will survive but the damage has been done to my people I've laid off. 2011 is not looking to good either.

[RedMDer]

Yep, had a whole cabinet full of those glasses and such.

[bwc2221]

Remember the merchant also pays Visa/MasterCard a merchant fee (about 1.5%) on purchases on any debit/credit/gift card. That’s why many gas stations have a cash price and a credit price. If you use a Mobil credit card at a Mobil station, you are not charged a fee. If you use any other card, you are.

[mylife]

Bastage! ☺

[bwc2221]

A lot of cards do not expire. I run a lot of promotions using cards. When I use merchant cards (Chili's, Borders, T.J. Maxx) there is no expiration. With Visa, it's six months to a year.

[ace2u_in_MD]

Read the terms and conditions. I bought 3 VISA GC’s that the funds do not expire...

[mylife]

My reward points aint racking up like yours.

I have family in construction out there as well. Ninteman

Good luck with your business.

[mylife]

I would like to think cash never expires, However....
With this administration all bets are off.

[23 Everest]

Thanks, Merry Christmas to you and yours.