Why are expiration dates on gift cards legally allowed to exist?

Why wait that long to spend it? Also, each card has terms and conditions written plainly on the card and/or the packaging, and by buying the card, you agree to them, so technically, it's not really unethical to have expiration dates on gift cards.

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FAQs about Why are expiration dates on gift cards legally allowed to exist? Coupon?

Do gift cards expire?

Some states have laws that regulate gift certificates and gift cards. Certain states don't allow gift cards or gift certificates to expire, and others have terms longer than five years for the expiration period. ...

Do gift certificates expire?

Under the CARD Act, gift certificates and store gift cards can't expire for at least five years from the date of issuance (in the case of a gift certificate), or the date funds are last loaded on the card (if it is a store gift card or general-use prepaid card). (15 U.S.C. § 1693l–1, 12 C.F.R. §1005.20 (e) (2) (i)). ...

How do I know if my gift card has an expiration date?

For a used gift card with an unknown balance, there should also be a phone number or website on the back that'll also give you this information. If, however, you see that your gift card does have an expiration date or any stipulations regarding inactivity fees, you'll want to check what's possible concerning the current federal or state laws. ...

Do gift cards expire in Ohio?

Additionally, the law bans fees that would cause the card's value to decline. Ohio: The Ohio Attorney General's office states that if a gift card has no expiration date, it remains valid until redeemed or replaced. Ohio law also prohibits service fees, dormancy fees, and latency fees on gift cards. ...

How long does a gift card last?

Kansas – One year, after which any amount may be charged in fees. Idaho – If balance is more than $50.00 and card has no expiration date displayed, after five years of inactivity. Unknown: Kansas, Kentucky, Missouri, Oregon, South Carolina Gift card rules change depending on the state. ...

How many states do gift cards expire?

There are fifty states (plus territories like Guam and Puerto Rico). Some of them are wackier than others in terms of their gift card laws. There are at least 10 states that do not permit gift cards or certificates to expire. There are several more that require valid terms of greater than 60 months. How do they feel about underlying funds? ...