California Gift Card Law: Get Cash Back From Your Gift Cards
Image by ShopDiary. Gift card images from respective retailers.
California shoppers, listen up. As of January 1st, you’ll be able to redeem gift cards for cash if the balance is less than $10, thanks to a new state law, SB250, signed in October. Currently, gift cards worth less than $5 can be subjected to dormancy fees and a store can refuse to give the remaining value back in cash no matter how small the value. Unredeemed gift cards have raked in as much as $8.2 billion for retailers in 2006, according to Sen. Ellen Corbett (D-San Leandro), who authored the bill. The law will apply to any gift certificate or gift card sold after Jan. 1, 1997. Existing state law already prohibits retailers from putting an expiration date on gift cards.
So dig into your wallet, dresser drawers or wherever place you’ve stashed your unused gift cards. If their value is less than $10, you get to claim your cash back. Be vigilant though. As the law is new, some retailers like Victoria’s Secret, may not have gotten the memo and still refuse to give your change.
[via L.A. Times]
January 12th, 2008 at 3:19 pm
Oh my gosh no way! I have some giftcards but the bad thing is alot of them have like .29 cents left or something, I hate when that happens. I wish the rule was $20 because I have a giftcard that I’ve had for a year that I’ve never used. Well thanks for the news :] Maybe I’ll spend $10 worth and get the other 10 back.
January 12th, 2008 at 6:32 pm
omg i love love love the nordstrom gift card with the ruben toledo illustrations on them. they are so cute.
the make the nordstrom spreads my favorite advertisement in magazines
and they are partly/mainly the only reason i bought nina garcia’s book
January 12th, 2008 at 6:36 pm
Charmaine - The proposal by Sen. Corbett was for less than $20 but it met a lot of resistance from retailers.
Anita - I love Ruben Toledos illos too!
January 19th, 2008 at 1:38 am
[...] to the glamour of Gold & White. ShopDiary gives us the scoop on the California gift card law: get cash back from your gift cards! ShoeBlitz love these Jimmy Choo Lois Snake Patent Pumps. CelebLOOK tells us where to get a pretty [...]
January 19th, 2008 at 3:02 am
[...] to the glamour of Gold & White. ShopDiary gives us the scoop on the California gift card law: get cash back from your gift cards! Her Accessories has teamed up with Nomination Italy to give away one of their “Prisoner of [...]
January 19th, 2008 at 5:10 am
[...] to the glamour of Gold & White. ShopDiary gives us the scoop on the California gift card law: get cash back from your gift cards! Her Accessories has teamed up with Nomination Italy to give away one of their “Prisoner of [...]
January 19th, 2008 at 7:54 am
[...] to the glamour of Gold & White. ShopDiary gives us the scoop on the California gift card law: get cash back from your gift cards! Her Accessories has teamed up with Nomination Italy to give away one of their “Prisoner of [...]
January 19th, 2008 at 7:16 pm
[...] to the glamour of Gold & White.ShopDiary gives us the scoop on the California gift card law: get cash back from your gift cards!Her Accessories has teamed up with Nomination Italy to give away one of their “Prisoner of [...]
January 19th, 2008 at 9:41 pm
[...] ShopDiary gives us the scoop on the California gift card law: get cash back from your gift cards! [...]
January 20th, 2008 at 5:27 am
[...] to the glamour of Gold & White. ShopDiary gives us the scoop on the California gift card law: get cash back from your gift cards! Her Accessories has teamed up with Nomination Italy to give away one of their “Prisoner of [...]
January 20th, 2008 at 8:27 am
[...] to the glamour of Gold & White. ShopDiary gives us the scoop on the California gift card law: get cash back from your gift cards! Her Accessories has teamed up with Nomination Italy to give away one of their “Prisoner of [...]
January 20th, 2008 at 2:05 pm
[...] to the glamour of Gold & White. ShopDiary gives us the scoop on the California gift card law: get cash back from your gift cards! Her Accessories has teamed up with Nomination Italy to give away one of their “Prisoner of [...]
January 20th, 2008 at 2:34 pm
Great law…that I probably won’t see here in Texas.
January 20th, 2008 at 4:32 pm
[...] to the glamour of Gold & White. ShopDiary gives us the scoop on the California gift card law: get cash back from your gift cards! Her Accessories has teamed up with Nomination Italy to give away one of their “Prisoner of [...]