It's no wonder that retailers prefer to give gift cards for returns. It seems they usually keep the money. According to the Associated Press, retailers have been profiting from unused gift cards, Best Buy alone profited $43 million from unused gift cards. If you have a gift card or get one this Christmas make sure you read the back of them as many have an expiration to them and some even charge you after a certain time period of non-use. Here is an excerpt from the article:
"LOS ANGELES - Shoppers across America have millions of gift cards tucked away in envelopes, drawers and wallets. And some of the nation's largest retailers are profiting as a result.
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"It can be fun to get them, but then I forget about them," said Deborah Cabaret, 46, who has hundreds of dollars worth of unused cards. "Or I walk into the store, I look around, I don't know what I want, and I leave."
Last winter, Best Buy Co. reported a $43 million gain in fiscal 2006 from cards that hadn't been used in two or more years. Limited Brands Inc. recorded $30 million in 2005 revenue because of unredeemed cards."
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