Gift cards DOs and DON'Ts
(New York - WABC, November 22, 2007) (WABC) -- Instead of making yourself crazy looking for the perfect gift, the answer may lie in a gift card. But before you splurge, you need to make sure you read the fine print.
Eyewitness News reporter Phil Lipof has your gift card buying guide.
The holiday shopping crunch is on. If you're not like one of these early shoppers and more of a procrastinator, perhaps a gift card is the way to go. It's easy and quick.
"I like getting gift cards because I don't have to spend my own money to get a gift," said Jordan Wolff who prefers gift cards.
And that's why it's become a multi billion dollar business.
But like with any business, there are fees and expiration dates. Someone is always making money. And New York State Senator Chuck Fuschillo wants to make sure it's not coming out of your pocket.
He sponsored a bill to do away with all fees. That didn't work. But..
"Right now, the New York State law says there could be no monthly service fees on a gift card for the first 12 months," said Senator Chuck Fuschillo.
He says that is at least a good start and until he can do away with all fees. He offers these tips.
You'd be surprised to see how many shoppers we spoke with who didn't know about the fees.
"I didn't know that," said shopper Fran Iaguessi. "Now I have to wear my glasses before I buy those cards."
Senator Fuschillo says he'll try again in 2008 to get rid of all fees. So until then, be careful.
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