The giving of gift cards has become very popular in recent years, but there are fears that some stores might go out of business early in the new year – which would lead to a gift card being worthless.
David Overfelt, President of the Missouri Retailers Association , says is little to fear with gift cards, provided they are redeemed soon. He maintains the gift card is a great gift for someone who is hard to buy for as well as a great present from someone who can’t make it home for the holidays.
Overfelt says he has seen Internet articles about gift card fears but insists he doesn’t believe them. He points out many of the companies selling gift cards are putting the store policies online so that consumers will know about cashing in the cards. Overfelt adds even when if a retailer goes out of business it does not just close the doors immediately – there is a wind down period during which gift cards can be redeemed.