Gift Card Blog - ScripSmart

The Gift Card Graveyard

Here Today, Gone Tomorrow

Bankruptcy, it's one of the risks of any gift card. Whether giver or receiver, ending up with a worthless gift card is a scenario you want to avoid.

We've recently written about Sam Seltzer's gift card holders being left out in the cold and while smaller operations may be more susceptible to going out of business, gift cards issued by well know national brands can also end up worthless.

For example, retail giant Circuit City went under for good in March 2009 and if you missed the opportunity to redeem your gift card, tough luck. Even though circutcity.com is up and running with the same logo, the new Circuit City does not accept gift cards sold by the previous operator. (Circuit City's brand was purchased in bankruptcy court.)

Right now, Movie Gallery, the second largest movie rental operation in the US is closing doors. Movie Gallery also owns the Hollywood Video and Game Crazy brands, all locations are closing. If you own a Hollywood Gift Card, Game Crazy Gift Card or a Movie Gallery Gift Card use it today.

No Ordinary Graveyard

We decided gift cards issued by companies which have gone under deserve a special place at ScripSmart. Funds were budgeted, negotiations commenced, agreements redlined...wait...we just created a web page and bought some cool tombstone graphics, never mind

We call it the Gift Card Graveyard and it's not your ordinary cemetery: no lives were lost, no funerals held, no gravediggers, just money sucked out of someones pocket by a business which could no longer sustain itself and a remembrance of a gift card gone worthless.

A ScripSmart Account Can Help

Pointing out problems is easy, solutions is what we really need. ScripSmart was recently mentioned in a Forbes.com article offering solutions to avoid getting suck with a worthless gift card.

If you receive gift cards and tend not to use them right away, open a free ScripSmart Account and add your gift cards.  When we catch wind of a company going under and you have that gift card in your account, we'll alert you via email and hopefully you'll be able to redeem it before the doors close for good. Just be sure to enable the Bankruptcy Alerts under your account profile.

Create Your ScripSmart Account

Unwanted Gift Cards: You've Got Options

It happens, people own gift cards they simply do not want. In fact, it happens so much entire industries have come into existence to make a profit. The good news is you have options for unloading that unwanted gift card. Depending on your personality you might take one of several approaches.

The Selfish Way: Sell Your Gift Card For Cash

While you won't receive the full value, you love the smell of cold hard cash. After all, what were they thinking giving you a gift card instead of cash? While the person who gave you the gift may not be thrilled to know you just sold their gift at less than face value, it's better than buying something you don't even want, right?

The Frugal Way: Trade Your Gift Card

Whether trading with a friend, co-worker or stranger in a marketplace for gift cards, you'll have a better chance of getting full value, but a tougher time finding a match. I once exchanged a $50 gift card with a co-worker and it worked out great. Are you bold enough to nag others and see if they are willing to make a trade?

If you're interested in these first two options, take a look at Gift Card Advocate's Resources page for companies involved in the 'unwanted gift card market'.

The Risk Takers Way: Regift Your Gift Card

Mention the word regift and people cringe, snarl and boo; nevertheless, I'm putting it on the table. The truth is, your recipient will likely have no idea you just gave them an unwanted gift card. The chances of getting caught are much lower than regifting that ugly sweater from your grandma that you gave to another family member. Just do yourself a favor and check the balance, expiration and fees before passing it along. If you're caught, expect to have people gossip about it for a long time.

The Good Guy Way: Donate Your Gift Card

Donating is perhaps the safest, most admirable and just plain feel good thing to do with your unwanted gift card. This one is so safe you could even tweet about it. Take a look at Plastic Jungle's non profit partner list and consider turning you 'misfortune' into a positive for others in need. Just be sure to read the instructions for donating carefully, it's not intuitive. Also, consider GiftCardGiver.com as an alternative.

The Lazy Way: Keep Your Unwanted Gift Card

After all, you might want it SOMEDAY and many gift cards never expire, right? Whatever! It's always best to use your gift cards sooner than later. Don't let them pile up!

ScripSmart Can Help

If you find yourself with several gift cards, ScripSmart can help. It's easy, just create a ScripSmart Account, add your gift cards and we'll send you personalized monthly summaries, bankruptcy alerts, you can even try our nag-me alerts. ScripSmart helps simplify gift cards.