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It's A Good Idea To Use Gift Cards Right Away

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The Tampa Tribune

Published: December 18, 2007

Gift cards are more popular this year and are easier to use, thanks to key rulings by the Federal Trade Commission and efforts by a number of states to regulate them, several retail experts said.

Although the gift card industry has become more regulated, many consumer advocates still say people should be vigilant when buying and using cards. Greg Daugherty, executive editor for Consumer Reports, recommends steering clear of gift cards.

"One of the reasons I think gift cards are appealing is that they're shiny and pretty and seem like more thought went into them," he said. "But money is more convenient and doesn't expire and has no maintenance fees."

Business, Page 1

•Consumers have to take more responsibility, experts said. "If you are the recipient of a gift card, use it promptly because if you don't, it may devalue or, more likely, you may lose it," said Jack Gillis, a spokesman for the Consumer Federation of America.

•A recent survey by Consumer Reports found that many gift cards go unredeemed.

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