I knew I liked Ron Lieber. He clearly dislikes gift cards as much as I do.
His recent New York Times column “Redeem all of gift card, or give store a present,” discusses the incredible $5 billion lost each year to “breakage,” or the amount of money put on gift cards that never gets spent.
His article is more circumspect than my MSN rant, “Gift cards are the new fruitcake,” but we make the same points. And the advice is the same: if you get one of these buggers, spend it fast, before the store goes out of business or fees eat up what’s left.
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