Gift card tips for the holidays

If you still have gifts to buy this week, you may be thinking about gift cards.

The Federal Trade Commission (FTC) offers tips on purchasing gift cards – especially considering new rules passed this past summer.

The FTC notes that gift cards must now show their expiration date (if there is one), cards can only charge inactivity fees after one year, and the money on a gift card cannot expire for at least five years.

There’s also a difference between retail gift cards, offered by stores and restuarants, and bank gift cards, which are offered by Visa, MasterCard, and American Express for you to spend like a debit card.

The new gift card rules are supposed to help protect consumers – which is good news for anyone who gets a gift card in their stocking this holiday.

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