credit cards

7 questions to ask before buying a gift card

What happens if the card is lost or stolen?
6 of 9
What happens if the card is lost or stolen?

The Credit CARD Act bestowed some peace of mind to gift card buyers, too. If the card you buy is lost or stolen, your recipient can get a replacement for the unused amount at no charge, thanks to the legislation. (It's another good reason to stick with card issuers and reputable vendors.) Prior to that, a lot of cards were like cash: Lose it and it's gone forever.

But to recoup your losses, you have to save the receipt, says Rea.

The gift recipient has "to have a receipt to verify ownership and verify the amount of the gift card," she says.

In addition, it doesn't hurt to ask about policies on stolen or replaced cards, particularly if you're buying from a small or local retailer, says Rea.




Editorial Disclaimer: The editorial content is not provided or commissioned by the credit card issuers. Opinions expressed here are author’s alone, not those of the credit card issuers, and have not been reviewed, approved or otherwise endorsed by the credit card issuers.

Show Bankrate's community sharing policy
          Connect with us
Product Rate Change Last week
Balance Transfer Cards 16.22% --0.00 16.22%
Cash Back Cards 16.49%  0.07 16.42%
Low Interest Cards 11.44%  0.09 11.35%
Credit cards on a table

Get advice for managing credit cards, building your credit history and improving your credit score. Delivered weekly.


Credit Card Blog

Mitch Strohm

Will card fraud increase at the pump?

Fraudsters may be taking advantage of the lack of security at pay-at-the-pump card readers.  ... Read more

Partner Center

Connect with us