Gift card expiration is a pain. It creeps up on you when you least expect it, and takes with it the entire value of your gift card. If you are a regular reader of this blog, you probably know by now that i am an advocate for extending or eliminating gift card expiration (and fees, but that’s for another day).
That is why I am very excited about this story in Business Week stating that the Michigan Legislature has passed a bill requiring stores to accept gift cards and certificates for at least five years after selling them. The measure is expected to be signed by the Governor into law once the House signs off on changes. It will take effect on November 1, 2008.
If you live in Michigan and are interested in having this bill become law, now is a good time to call or email your state representative. The bills also would prohibit inactivity fees and fees related to buying a gift certificate. Bravo Michigan!!