I wonder if prices being 24.99 makes a difference here too.
That would mean that for each gift card where the full amount is not spent, the company keeps 0.01. That 0.01 is technically owed but it doesn’t prevent the company from earning interest on the unspent cash (I don’t think).
Also some gift cards require own contribution to the purchase. For example a $25 card could only be used on a purchase of $25.01 or above so you still have to pick something that you will pay out of your own pocket for
Ikea where I live (Poland) does that. You have to spend at least 0,01 PLN yourself, even if it means not using the entire amount of the gift card that was available
That’s crazy. That sounds like it should not be legal.
Why not just require they spend $200 to use a gift card? That way the store either keeps the $50 gift card in cash on the books, or they make $250 in sales.
I wonder if prices being 24.99 makes a difference here too.
That would mean that for each gift card where the full amount is not spent, the company keeps 0.01. That 0.01 is technically owed but it doesn’t prevent the company from earning interest on the unspent cash (I don’t think).
Also some gift cards require own contribution to the purchase. For example a $25 card could only be used on a purchase of $25.01 or above so you still have to pick something that you will pay out of your own pocket for
Which gift cards are those?
I’ve never heard of that being something you would purchase.
I could only see it existing if I had a $1.00 gift card to the dollar store. Because nothing costs a dollar at the dollar store anymore.
Ikea where I live (Poland) does that. You have to spend at least 0,01 PLN yourself, even if it means not using the entire amount of the gift card that was available
That’s crazy. That sounds like it should not be legal.
Why not just require they spend $200 to use a gift card? That way the store either keeps the $50 gift card in cash on the books, or they make $250 in sales.
Kinda sounds like they require a link to your finances, so you can’t do anonymous online purchases.
That’s not a gift card…that’s a coupon you’re talking about. Gift cards cannot have limitations like that, at least in decent countries.
they call them gift cards, what can you do