As you have probably heard, Toys “R” Us is closing down all of their stores across the United States and Puerto Rico and you may have some gift cards you need to use.
If you have a Toys “R” Us gift card, it was recently announced that it must be used by April 15th, 2018; however, according to the FTC, Toys R Us customer service recommends that you redeem any gift cards that as soon as possible. The gift cards can be redeemed both online and in-store.
It is also important to remember that, usually, purchases from a company that is going out of business are a final sale. A Final sale means the purchases can’t be returned once they are taken from the store.
However, store credit may be offered for some returned purchases, but if you are given in-store credit be sure to use it as soon as possible. If you have questions about the return policy, be certain to ask prior to making the purchase.
The FTC has also indicated that Toys “R” Us is also honoring customers’ Reward dollars and Endless Earnings for the next 30 days.
If you have a gift card from a company that is going out of business, the BBB offers the following tips.
- Look into the financial condition of the retailer: If the news is reporting a company is not in good financial standing, purchasing a gift card from another retailer may be smart.
- Check the terms and conditions: A gift cards terms might allow for a gift card to be used at another retailer.
- Purchase gift cards with a credit card: Purchasing with a credit card offers some protections. The credit card company may be able to help you recover your money if the business closes. Remember, some businesses may require gift cards be purchased with cash.
- Use gift cards quickly: While you may have many years to use a gift card, don’t wait too long to spend it.
For more information, visit: bbbconsumereducation.com