Many of us have Christmas gifts at the top of our to-do list and if you're not going to be giving any gift cards away this holiday season, chances are you may get a few. Are those little plastic presents really worth it?
A lot of stores issue inactivity fees on gift cards. Under federal law those fees and terms must be easily seen. Those same federal rules mandate that gift cards be valid for at least five years.
Despite the possible fees that come with gift cards, the National Retail Federation said the average person will spend $163 on gift cards this holiday shopping season. Officials at the Quincy Mall said sales on gift cards have already started to pick up.
"If you don't know exactly what the person wants or if it's for the person who has everything, it allows them the freedom and the luxury to be able to come in and really use it to what suits their needs best," said Mike Jenkins with the Quincy Mall.
A word of advice from the Federal Trade Commission, use your gift card right away to ensure you're card doesn't get lost and/or you don't get slapped with those inactivity fees.
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