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Holiday Shoppers: Be Cautious When Purchasing Gift Cards

Shoppers are expected to spend $25 billion on gift cards nationally this holiday season. Unfortunately, fraudulent activity associated with gift cards is becoming increasingly common. Florida’s Attorney General issued a consumer alert with the following recommendations as protection from potential scams.

• Buy gift cards from reputable sources. Avoid buying gift cards from online auction sites as these cards may be stolen or counterfeit or may have been obtained fraudulently.
• Always read the fine print before purchasing gift cards.
• Inspect the card before buying. Verify that none of the protective stickers have been removed. Ensure that the codes on the back of the card have not been scratched off to reveal a PIN number. Report altered cards to the store selling the cards.
• Give the recipient the original receipt to verify the card’s purchase value in case the card is lost or stolen.
• Ask about purchase exceptions, including any terms of use that may vary regarding a store’s website versus the physical store location.
• Treat gift cards like cash. If a card is lost or stolen, report it to the issuer immediately. Most issuers have toll-free numbers to report lost or stolen cards.