Gift cards are the perfect gift for someone you want to acknowledge (your child's teacher, your boss) but don't want to get too personal with. Unfortunately, New Jersey law is changing with regard to how long gift cards can be saved.
The State of New Jersey is attempting to claim the unused balances of gift cards that have been inactive for two years. Whatever balance you have on your old Starbucks card will revert to the State to be used for capital improvements throughout the State according to an article by USA Today.
Last year, the value of unused gift cards was $2 billion, which could make quite a difference in NJ's economy.
As a result of this new law, American Express is no longer selling gift cards in NJ. Visa and Mastercard gift cards will no longer be offered by some companies in NJ soon.
Comments(5)