Not honoring their own Sharper Image gift card!

[davephillyj]

Wow, I don't know if I will ever buy gift cards again now! How can they do this? That's like stealing isn't it? Just wanted to let al know who may have one. I read it on yahoo! news.

 

 

 

By ANNE D'INNOCENZIO, AP Business Writer

2 hours, 36 minutes ago

 

 

 

NEW YORK - You know that Sharper Image gift card you got for Christmas? Right now, it's worthless. And other gift cards in your wallet could lose their value, too.

 

As more retailers file for bankruptcy or go out of business, more than $75 million in gift cards are at risk of becoming worthless pieces of plastic this year.

 

"If I knew this was going to happen, I would have used them right away," said Jon Tapper, a public relations executive from Boston who received two Sharper Image cards as business gifts just a few weeks ago. Their total face value is $50.

 

"I love gift cards, but now this makes me think twice."

[Rockfordmom]

I was at Media Play the day before they announced that they were closing their stores. They were trying to get me to re-sign up for their points/discount card that cost money. I didn't sign up for it, but when I heard the next day I thought that was pretty crappy that they were trying to get me to spend $$ on something that would be totally worthless in a few weeks. And the upper management (not at the store level) knew that they were closing soon but still had cashiers in the stores try to push them just to get some extra money from their customers.

[davephillyj]

Wow ^^ that is LOW!

[sneakers1234]

A few years back, Bradlees gave all after christmas returns in the form of giftcards for about a week after Christmas. Then early Jan went bankrupt== & all the cards were worthless.

[sweetsali]

I saw reference to this situation on the news last night. They mentioned that alot of retailers are feeling the econmic crunch and are going bankrupt and are not honoring their own store gift cards. There are 75 Million dollars in unused giftcards out there that cannot be redeemed. Some type of reform needs to be implimented to not allow this to happen. They are banking away on those unused cards which is an unfair practice to the consumer.

[samisma]

A few years back, Bradlees gave all after christmas returns in the form of giftcards for about a week after Christmas. Then early Jan went bankrupt== & all the cards were worthless.

 

I remember this... I worked there then. They gave their employees no warning either.

[Penelope]

There was a big article in our paper today about this. If you do have a Sharper Image

gift card, you can take it to Brookstone and get 25% off your purchase, regardless of

the amount of the gift card. Sharper Image did say that they would be taking the gift

cards eventually, but they did not say when. I would not even count on that because

gift card holders are classified as unsecured creditors, which basically adds to their debt.

 

This is very scary to those of us who buy gift cards. For those of you who want more

details, here is the local article:

 

http://www.sacbee.com/840/story/757174.html

[Mzkitty_Phx]

From now on I am going to spend GCs immediately! That really stinks!

[happyrat]

I wonder if you bought the gift card with a credit card if you would have any protection? Could call the cc company and say hey I bought this bought they won't honor it? That might be one way to try to get some money back.

 

Personally I think its fraud and think it should be illegal. You paid for x number of dollars of merchandise in advance, and you should be able to receive the merchandise anytime you wish. Heck the store gets your money interest free till you use it anyway.

[ljl3185]

I wonder if you bought the gift card with a credit card if you would have any protection? Could call the cc company and say hey I bought this bought they won't honor it? That might be one way to try to get some money back.

 

Personally I think its fraud and think it should be illegal. You paid for x number of dollars of merchandise in advance, and you should be able to receive the merchandise anytime you wish. Heck the store gets your money interest free till you use it anyway.

The only problem with that is a lot of stores won't let you purchase a gift card with a credit card. "Cash only" is the policy for a lot (if not all) of places.

I think that really stinks

 

[erinplus3]

The only problem with that is a lot of stores won't let you purchase a gift card with a credit card. "Cash only" is the policy for a lot (if not all) of places.

I think that really stinks

I have never seen this before, can you name a few stores off the top of your head that have this policy? I'm not doubting you, I just have never seen it before. All places I shop at have let me buy gift cards with a cc.

[booga12345]

I have never seen this before, can you name a few stores off the top of your head that have this policy? I'm not doubting you, I just have never seen it before. All places I shop at have let me buy gift cards with a cc.

I have never heard this either. I know for Christmas I used my JCP card to buy gift cards.

[rennakay]

I have never seen this before, can you name a few stores off the top of your head that have this policy? I'm not doubting you, I just have never seen it before. All places I shop at have let me buy gift cards with a cc.

I have seen a couple of places near me that only accept cash for gift cards. 1 is a chain grocery store - Food World that sells all different types of gift cards, I think it might depend on the management. I also think that it was because of people buying them with stolen credit cards. The only reason I noticed this is because I wanted to get an Outback

steakhouse giftcard for my son who lives in florida and that's his favorite place to eat. We don't have one close to us and no one else close by sells them. I thought it stunk that I could only use cash because I rarely carry more than $5 cash on me.

[juanadeal]

Looks like a little bad press went a long way. They are taking gift cards but with restrictions:

 

This policy is purely voluntary. It applies to all Gift Cards, Reward Cards, Gift Certificates and Merchandise Certificates issued prior to the Company's petition for protection under chapter 11 of the Bankruptcy Code (February 19, 2008).

 

 

If you choose to redeem your card/certificate, you must purchase merchandise equal to twice the current value of the card/certificate in order to redeem it.

 

 

If you choose to redeem your card/certificate, you may not redeem a partial amount. Cards/certificates must be redeemed in full.

 

 

How does it work? If you have a $25 card/certificate, you must purchase at least $50 to be able to use it. If you have partially used your card/certificate before March 7, 2008, you must spend twice the remaining balance.

 

 

A Customer who does not wish to redeem his or her card/certificate as part of this program may have a priority claim in Sharper Image's bankruptcy case. In a bankruptcy case, priority unsecured claims get paid prior to general unsecured claims, although there is no assurance of payment. Information about filing a claim and claim forms can be obtained on the following website:

 

www.kccllc.net/sharperimage

 

or by calling the following number: 800.344.5555

 

 

Sharper Image is working diligently to be able to honor the cards/certificates without condition in the future. A Customer who does not use his or her card/certificate as part of this program may be able to use it without condition in the future, although Sharper Image cannot guaranty this result. This policy is subject to further order of the United States Bankruptcy Court for the District of Delaware.

 

 

Cards/certificates may not be accepted at stores that are closing, unless notified at the particular store to the contrary. For those Customers who do not live near a store remaining open, the cards/certificates can be redeemed under this policy by calling 1.800.344.4444.

 

http://www.sharperimage.com/us/en/cust_help/cserv_giftservices_giftcertificates.jhtml

[Penelope]

That seems like it should be illegal. I bet there are going to be a lot of angry

customers out there.

[conj]

I don't have a sharper image card - but I'd be pissed! You have to spend twice the value of the card??!

[annmarie780]

The only problem with that is a lot of stores won't let you purchase a gift card with a credit card. "Cash only" is the policy for a lot (if not all) of places.

I think that really stinks

 

I know what you're talking about but it's hardly the big stores. They have had so many problems with people buying giftcards with stolen credit cards that I think they're just trying to protect themselves.

[bayhaysay]

That seems like it should be illegal. I bet there are going to be a lot of angry

customers out there.

It SHOULD be illegal, if it's not.

[happyrat]

I understand people buying gift cards with a stolen cc, but unless they use it right away, if the cc comes back stolen, can't they deactivate the gift card or put up a red flag at the register when redeemed? And what is the difference between a $50 pair of Jeans or a gift card? If you purchase either with a stolen cc it is still the same loss to the store.

[jennirv4967]

Our local Walmart and Martins both require cash for gift cards.

[erinplus3]

Our local Wal-Mart and Martins both require cash for gift cards.

Wow, I wonder if that's a national thing for all Wal-Marts. I would think money is money and they wouldn't care where it came from.

[juanadeal]

I just saw a sign for the first time today that any gift card purchases over $100 had to be purchased at the courtesy desk and you had to show photo i.d. This was at a local supermarket. That seems like a better solution to me than to require cash.