News How to lose your money _ Buy gift cards

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Before holiday shopping, consumers should be aware of potential store closures that could affect gift card usability. Many retailers are shutting down locations due to decreased consumer spending, and gift cards from these stores may become worthless if not used promptly. Discussions highlight skepticism about the reliability of viral emails listing store closures, with some participants stressing the importance of verifying such claims. The consensus suggests that gift cards can be risky, as they often tie up funds in specific stores, making them less versatile than cash or checks. Ultimately, consumers are advised to consider alternatives to gift cards to avoid potential losses.
  • #31
Evo said:
Wow, Woolworth's closed down in the US ages ago. They tried to update them them as Woolco, but that also failed. I used to go to Woolworth's all of the time when I was little.
Woolworth's here had lunch counters, stamp-collecting supplies, needles and thread, photo-processing drops, toys, etc, etc. 45-50 years ago, it could be a treat to go there, though we never had much money to spend and spent a lot more time looking than selecting and buying.

Woolworth's specialized in low-cost stuff, so you could get a deal on generic envelopes, crepe paper, glue, cellophane tape, etc. Sam Walton probably looked at the Woolworth game plan and thought "not big enough".
 
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  • #32
Never understood why people give out gift cards. Why not just cash? Cash is more liquid. Gift cards are simply just cash that you are forced to spend in one place. Seems stupid.
 
  • #34
That article was about unspent gift cards, not gift cards for companies that went under.
 
  • #35
russ_watters said:
That article was about unspent gift cards, not gift cards for companies that went under.

Yes I can read.
 

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