Gift Card Legislation Hits Congress

Just this week a bill passed the house en route to the senate which would put limits on credit card fees. 

This bill prevents credit card companies imposing extra fees and fluctuating rates upon consumers.

This is the first in what could be a series of new measures enacted to protect consumers and keep more money in their pockets.  Written into this new credit card bill are several provisions aimed at protecting gift card users as well.

The new rules prohibit gift cards from expiring within a five-year period and also prevent companies from reducing balances on gift cards for inactivity or for not using the cards within a specified time frame.

The new gift card legislation will not only protect consumers who already buy gift cards but will hopefully encourage others to choose gift cards as their way of giving.  If consumers have less to fear about expiration dates and non-use, they might be more likely to purchase the cards.

Whatever the outcome, it is always great to see new measures to protect consumers, especially in tough economic times.  Be sure to check back with us at GiftCertificateGuide.com for the latest updates.