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Circuit City Gift Cards - bankruptcy

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OhioGuy

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Aug 14, 2008, 9:19:37 AM8/14/08
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I just read an article about bankruptcy and gift cards in Kiplinger's
Personal Finance. They said that due to the bankruptcy rumors, if you have
a gift card from Circuit City, you should cash it in NOW - because it may
become worthless at any time.


OhioGuy

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Aug 14, 2008, 9:19:46 AM8/14/08
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Seerialmom

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Aug 14, 2008, 3:07:36 PM8/14/08
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Any gift card you get should be used ASAP since you never know whether
that company will be solvent over time. I guess that's why I prefer
Visa gift cards over specific store brand cards. I still have a $30+
balance on a Best Buy card my brother gave me, they don't really have
what I need at the moment or at least not at the price I prefer to pay.

Al Bundy

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Aug 14, 2008, 6:30:29 PM8/14/08
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And you just discovered this in Kiplinger's today? How behind the
curve are you anyway? You have to be the last person on earth to
figure it out. If a company is broke, they can't honor your card. If
the door is closed, they can't let you in. Regardless, the fixed value
of the card is always worth less in the future.

George Grapman

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Aug 14, 2008, 6:38:55 PM8/14/08
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About 20 years ago a new health club in my neighborhood offered steep
discounts on yearly memberships. I tried to sign up for a month but was
told they were only accepting yearly memberships at the start/2 months
later they were gone.

OhioGuy

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Aug 14, 2008, 10:05:27 PM8/14/08
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> And you just discovered this in Kiplinger's today? How behind the
> curve are you anyway?

I think you missed the point - I wasn't personally aware of Circuit City
having solvency problems, because I don't shop there, and am not very
familiar with their stores, so I don't keep up on news related to them. As
such, I figured there just might be someone out there reading this group
that might have a Circuit City gift card, and who also hasn't heard of their
"impending doom". However, if my post convinced even ONE person to go out
and spend their gift card now, and it goes belly up in a month or so, then
I'll feel that it was worth taking the couple of minutes to post my original
message.


Frank

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Aug 16, 2008, 3:24:48 PM8/16/08
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"OhioGuy" <no...@none.net> wrote in message news:g81bdl$3as$1...@aioe.org...

Even the parent company remains profitable but the branch company goes
under, everything becomes worthless. Case in point is Richard Branson's
Virgin Electronics division went under and all was lost within the
electronic division even other Virgin branches were doing well. Branson
keeps his billions at the expense of the little consumers.

I don't understand the thing with gift cards, what's wrong with cash or a
personal check? Cash doesn't tie you down to a particular store or has
maintenance fees or expiration date.


Al Bundy

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Aug 17, 2008, 5:28:36 PM8/17/08
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Based on that silly theory, you should post all the news in the world
right here on this sight just in case somebody missed something. Come
on. Are you still in hight school?

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