Balances on gift cards to be forfeited to the state? Yes, our General Assembly is proposing that if gift cards are used within a certain period of time, for instance, if a year elapses without a purchase on the card, that the balance will be forfeited to the state.

Catch up on the Special Session

that is crap. what about my "emergencies only' blockbuster gift card!?

That's hardcore. Seriously.

Anyone want an Outback gift card I've been holding for a couple of years?

I think that's one of the cards that loses value year after year if it isn't used....


.... I don't like Outback, and I like even less the people that gave it to me...

I never did understand how a company audits unused gift cards in their ledgers. Does this mean they have to report the cards somehow to the Comptroller?

me. me. i <3 outback

I think the idea is so stores don't get to simply keep this money. That's what they do now. For instance, in 2006, Best Buy reported that they made $43 million in unused gift cards. Currently, the stores get to keep any money from abandoned gift cards. The Maryland law would consider any card abandoned either after four (4) years from purchase or one (1) year of it being used last.

Ideally, the consumer should be the one to get the value of the card, but since they are the ones that have either forgotten about the card or simply lost it, I guess I would rather let the state have the money then the retailer.

Bent--that is exactly what has been going on & of course, the state wants the $$...It is estimated that less than 1/2 of all gift cards are used--and even then, not fully---say you have a $25 card. You buy a book for $18.95...you never use the rest because you have to add your cash to the amount left...so every $2-8 left on a card adds up fast for the company in 'free revenue'...they have not incurred any costs to produce a product and yet, they got paid...what a scam...

i wonder if this will include Visa gift cards? you know the ones that can be used anywhere they take visa?

visa vanilla i think they're called....

i get those for family members as gifts sometimes, but i won't be if this is what's happening to the cards.

man. i'mma actually have to shop this year...

i like gift cards because they can be easily mailed, but this is ridonculous.

Actually, I don't see much difference in this and the unclaimed monies thing. The one where financial institutions transfer dormant account monies to the Comptroller. Very similiar thing.

Though, I do agree it's unfair for the state to take away a company's way of making easy profit. I guess they'll just have to push those worthless "extended warranties" more.

I actually don't hate Christmas anymore because of these things. Last year we got gift cards for all the adults and even a few of the children that are old enough to enjoy shopping for themselves. The rest of the family did the same thing so I had a bunch of gift cards for Borders.