Defend Your Dollars

Scott of Norman, OK

I received a $50 gift card for Christmas. I was encouraged to activate the card as soon as possible, so I did. I did not realize that it would be so expensive for the company to borrow my brother’s money, but after 6 months, stiff fees were assessed. When I needed the cash, I went to the website and found that I had not accessed the balance for so long that they refused to send my password, but I would have to call their 1-800 number. To activate it, I had to pay a service fee and then another service fee to get my balance. I found that I had approximately $17.50 left and had lost $32.50 in fees or 65%. I can’t imagine a worse investment. Now I just carry traveler’s checks, but increasingly stores do not accept them. My credit union used to sell Travelers Checks but now they only sell debit cards. No shelter there, though I imagine they get more money for the “free” service of buying plastic.