TRENTON – Legislation sponsored by Senators Joseph Coniglio, Joseph Vitale and Nia Gill that would require retailers offering gift cards to disclose expiration dates and other conditions on those gift cards at time of purchase and restrict the fees that retailers can charge to gift card holders that carry a balance on the card passed the Senate Commerce Committee today.
“I think that when anyone buys or receives a gift card, they expect that it will be treated the same as cash at the store we purchase it from,” said Senator Coniglio, D-Bergen. “Unfortunately, some retailers have come to use expiration dates and hidden dormancy fees to reduce the value of these cards and increase their profit margins. Before buying a gift card, consumers deserve to know the terms and conditions of that card so they know exactly what they are buying.”