ASSEMBLYWOMAN WAGNER REMINDS CONSUMERS TO BE AWARE OF GIFT CARD EXPIRATION DATES

The New Jersey Assembly's Democrats issued the following news release:

Assemblywoman Connie Wagner on Tuesday reminded consumers to cheap earrings certain they clearly know all expiration dates and dormancy fees for gift cards and certificates they received this holiday season.

"Gift cards are becoming more and more popular and are regulated by state law, but consumers are often unaware of unreasonable expiration dates and hidden fees," said Wagner (D-Bergen). "Consumers should make sure they know all the rules so they get the most of out of their gift cards and avoid being hit with fees they never saw coming."

Wagner noted state law prohibits a gift card from expiring within 24 months from the date of purchase. A dormancy fee cannot be charged within 24 months of purchase or within 24 months of the last transaction. After this time period, the maximum dormancy fee is $2 per month.

Also, Wagner noted cheap jewelry the terms of expirations dates and dormanc y fees must be disclosed to the consumer by written notice in 10-point font displayed on the gift certificate or card, sales receipt or packaging, and by written notice of a telephone number in 10 point font displayed on the gift certificate or card, sales receipt or packaging.

Wagner has sponsored legislation (A-2449) that would incorporate prepaid bank cards into those provisions. Prepaid bank cards include mall gift cards issued by third party banks or other financial institutions that are usable at multiple, unaffiliated merchants.

Wagner also noted federal law effective in August will provide even more gift card protections.

"People just need to make sure they're aware of the rules and that state cheap key rings is being followed so they don't get taken advantage of," Wagner said.