When someone gives you a gift card, it's a simple way to show you care. But if that card is stolen, it can be tough to get your money back.
That's what happened to a man from Michigan named Jason Meade. His brother bought four $50 prepaid Visa cards and gave them to him for his son's birthday in June. But the following day, the cards were gone. "I was just shocked, I couldn't believe it," he told WJRT. The money was gone, and Meade couldn't do anything about it. It took months, but he was eventually reimbursed the full amount by mygiftcardmall.
But not everyone gets lucky. According to a recent report by CBS News, 3% of gift cards are never redeemed. That adds up to more than $3 billion a year in lost funds, and it's not just the consumers who lose out. Cybercriminals also can benefit from the stolen balances, which they often sell for cash. And while many people think that the cards are secure because they have a big brand name on them, it's important to know how to keep yours safe.Looking More www.mygiftcardmall/mygift
Keeping your gift card in the original packaging is a good idea, and if it's a digital version, make sure you download it to your phone or computer so you can check on its balance. It's also smart to register the card if you can, which may help you recover a loss if it happens.
Another tip is to look for a website or toll-free number on the back of your card that allows you to track remaining balances. Retailers and restaurants typically offer that service, but there are some third party websites that can be used by fraudsters to capture your information.
Some experts also recommend avoiding gift cards with expiration dates and fees to avoid getting stuck with a card that's no longer usable. And if you have any doubts about a retailer or restaurant's policy, call their customer service line and ask to speak to a supervisor.
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