Syracuse, New York (WSYR-TV) - There's an email circulating about the dangers of buying gift cards this holiday season, since so many stores either have or may close or file for bankruptcy.
Dozens of you have forwarded the email to us, which tells you not to buy gift cards for places like Macy's, Circuit City, the Disney Store and Zales, because they're in financial trouble. You want to know The Real Deal.
Well, a lot of the retailers mentioned in the email aren't closing down completely; they're just downsizing, closing a handful of underperforming stores.
But it's always good to use gift cards soon after you get them -- no matter where they're from.
That way, you avoid any possible monthly maintenance fees, and you can be sure you won't lose out. Because if the company goes out of business, customers with gift cards are normally at the end of the line in bankruptcy court -- and typically, there's never enough money to go around.
Bottom line: Gift cards are still a viable gift idea; just don't hold onto them too long.
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