So as I was waiting in line to buy a Cadillac Fairview giftcard for a departing employee (how the heck am I supposed to know what she wants?) - I was thinking “hey this maybe this is the answer to Christmas this year!” I can’t stand Christmas shopping in general and anything that makes it better makes me happy… so this could have been a great option.
Then I bought the card, and it all changed! First there’s a “service charge” of $1.50 which is not cool. Then when you read the “terms and conditions” you find out that after 15 months (yes just over a year) they start charging a $2.00 “account maintenance fee” every month PLUS tax. It will be “deducted from the outstanding balance” – to be honest outstanding balance screams debt owing in my mind. It can’t be replaced or reloaded so it’s essentially a piece of crap… I would have returned it but I’m pretty sure the departing employee can use it shortly.
Instead I’ve decided on something else this year for Christmas… maybe not totally cheap but hopefully exactly what everyone on my list will like - CanadaHelps.org online charitable contributions I can give each person an amount that they can donate to the registered charity of their choice – sweet! Philanthropic and personalized… I love it entirely. Plus no more crap presents to find and ship!
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You just made me do some research - because I was sure teh Ontario government just passed new laws to ban such gift card fees. HOWEVER, according to Min. of Government and Consumer Protection's website:
"On October 1, 2007, expiry dates and fees will be banned on retail gift cards except for fees to customize a gift card or replace one that has been lost or stolen.
Gift cards redeemable at more than one unaffiliated store are temporarily exempt from rules on fees, but must follow the rules relating to expiry dates and disclosures. The ministry is working with stakeholders to determine the best way to regulate these cards and expects to make a decision by summer 2008."
Intersting.
You can find more here, if you're interested:
http://www.gov.on.ca/mgs/en/ConsProt/133716.html
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