Thursday, March 05, 2009

Cash Gifts Are Still Better

I know, you're still not convinced by the dead Circuit City gift card in your desk drawer, or that old email notice telling you that a friend gave you Flooz to spend at your favorite online stores. So let's add to the pile:
A company that sold gift certificates to businesses and individuals around the U.S. has shut down, leaving thousands to wonder if unredeemed certificates for restaurants and stores are worthless.

CertifiChecks Inc., which operated in 47 states, says it is filing for Chapter 7 bankruptcy and hasn't made clear whether it will honor the unredeemed gift certificates.
It's a Chapter 7 bankruptcy... I think that makes it pretty clear that most, and quite probably all, of the certificates won't be honored.

It was an amazing feat to convince people that cash gifts somehow lack class or thought, but that forcing somebody to spend money with a particular merchant or to hope that a third party lives up to its guarantee of payment.

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