Ohio Gift Card Legislation

Just a few years ago gift cards became one of the most popular gifts to give someone. However, they have recently come under fire with stores having expirations, declining balance or fees. Thankfully our state government is taking action against these stores and joining other states that are putting restrictions on gift cards. The Ohio Senate passed the bill that would no longer allow stores to have a declining balance, expirations on their gift cards, or fees and if they do to clearly advertise these facts. Currently the House is working to see which gift cards will be covered under this new bill.

As consumer, I loved the idea of gift cards; you did not have to worry about going back and exchanging gifts with in a certain time period (30 days) and not to mention how much time it saved for the gift giver. This first came to my attention when I went to American eagle with over $200 in gift cards, only to learn that I had to use them (gift cards) with in two years of their purchase date and face a declining balance. I had received these on several occasions, but because I went to a boarding school I did not have an interest in spending money until college. Had I known, I would have spent them when I received them instead of waiting. Now I am with out $200 worth of clothing and very frustrated. Also one other thing that arouse with my Christmas gift cards is some companies (American express) is charging activation fees just to use the card, keep in mind that is a minimum charge. My feeling is that the store already has the money let me send it when ever I want. If they do have an expiration date, declining balance, or fees they should clearly advertise this and not take money away from what would have been their customers.