Beware of Banks Bearing "Gift" Cards
Bruce Mohl reports in the Boston Globe about some issues with bank-issued (as opposed to retailer-issued) gift cards.
The vast majority of cards being sold are issued by retailers, but bank-issued cards are rapidly gaining in popularity because they can be used so many places. (Exceptions include online and phone airline ticket purchases and reservations for hotels and rental cars.) Bank-issued cards are expected to account for 13 percent of gift card sales this year, rising to 35 percent in 2007, according to Tower Group.
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