Oops - Expired Gift Cards

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kiwiharry

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#196376 29-May-2016 09:18

Doing a bit of a clean up at home over recent weeks and found in a paper bag some birthday cards from my sons' 10th birthday. He is now 15.

In the bag were also some gift cards, which all had now expired 3 to 4 years ago.

Wife contacted the companies concerned to see if anything could be done.

A big thanks to JB Hi-Fi for reissuing a new gift card.
Also a big thanks to Toyworld for also reissuing a new gift card.

Event Cinemas declined to entertain any replacement and are within their rights to do so.

I wasn't expecting any to be replaced, but as they say you don't know until you ask.

If you can't laugh at yourself then you probably shouldn't laugh at others.

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#1561540 29-May-2016 09:45

There are three reasons why companies like gift cards:

1. They get their money up front before they provide goods or services

2. A lot of cards are lost, or forgotten about until they have expired (typically after 12 months)

3. A lot of cards are only partially redeemed - eg a $45 purchase on a $50 card - the balance gets forgotten about

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k1w1k1d

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#1561555 29-May-2016 10:29

But on the other side, don't they also show up on the balance sheet as a liability?

Kyanar

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#1561556 29-May-2016 10:33

Gift cards are unsecured liabilities. The good kind of liability (i.e the ones that vanish into the ether during administration or receivership). That said, I believe they boost the asset accounts as well, as the money paid has to go somewhere on the accounts.

freitasm

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#1561591 29-May-2016 11:24

And yet some view these (myself included) as unfair - if you give money to a company it doesn't "disappear" after 12 months but you don't get anything out of it (except in the cases shown above, great of them for doing it).

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Dairyxox

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#1561600 29-May-2016 11:29

I'm impressed with JB Hifi and Toyworld, and will be taking my custom there in the future.

E3xtc

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#1562805 31-May-2016 09:42

yeah Briscoe Group (Rebel and Briscoes etc) are real good for honouring expired cards...so +1 to them too :D

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#1562845 31-May-2016 10:08

Lucky they weren't from Dick Smith! 😬

I recently had an MTA card with $400+ still left on it which went a few weeks over its one-year expiry. Phoned MTA and they issued a new card subject to a $25 re-issue fee. I was pretty happy with that under the circs.

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andrew027

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#1562880 31-May-2016 10:53

@Dairyxox: I'm impressed with JB Hifi and Toyworld, and will be taking my custom there in the future.

I don't need any excuses to put business JB Hifi's way - I seem to spend plenty there already...

But while we're giving the thumbs up to companies that honour expired gift cards...

My daughter was given a double pass for Lighthouse cinemas as a thank you gift and Lighthouse honoured it two years after it expired. Not only that, but when she got the card she was 14 and when she redeemed it she was nearly 18, so had gone from a child to an adult (albeit a student) ticket price.

richms

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#1562886 31-May-2016 11:04

I still dont understand why people think buying these things is a good idea. Give cash.

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