If you've received a gift card, be smart about how you use it. Here are some tips from the Federal Trade Commission (FTC):
* Read the terms and conditions when you get the card, and check for an expiration date or any fees.
* If you didn't get the card's terms and conditions, the original purchase receipt, or the card's ID number, ask for them from the person who gave you the card, and then keep them in a safe place.
* Treat your card like cash. If your card is lost or stolen, report it to the issuer immediately. You may be out the entire amount on the card. Some issuers don't replace the cards, but others do if you pay a fee. If an issuer charges for a replacement card, you'll most likely need to document the purchase and provide the ID number on the card. Most issuers have toll-free numbers to report lost or stolen cards.
* If your card expires before you've had a chance to use it or exhaust its value, contact the issuer. They may extend the date, although they may charge a fee to do it. Some merchants have stopped charging inactivity fees or imposing expiration dates, so it pays to check with the issuer to make sure you've got the most up-to-date information.
For additional information, download the FTC Consumer Alert "Buying, Giving, and Using Gift Cards," available online at www.ftc.gov/bcp/edu/pubs/consumer/alerts/alt010.shtm.
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