Rules on Gift Credit Card and Gift Certificate Fees – CARD Act 2010

Any company issuing a gift card, gift certificate, or prepaid card is not allowed to charge an inactivity fee unless the gift card has not been used for 12 months. The purchaser must be notified (before purchasing the gift card) that an inactivity fee may be assessed. The amount of the fee must be disclosed ahead of time.

Gift certificate expiration must be five years from the date of purchase or five years from the last date funds were loaded onto the certificate. If the gift card has an expiration date, it must be disclosed prior to purchase of the certificate.

Exclusions

These rules do not apply to reloadable phone cards, reloadable cards that are not marketed as gift cards or gift certificates, cards used in place of tickets for admission to certain events, and paper gift certificates.

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