Consumers are being warned to be careful which stores they purchase gift cards from because many big name companies are on the verge of closing. I don’t remember ever being so concerned about that before especially with the BIG companies….some of them have been around for years. It just goes to prove that nothing is foolproof in the world of business.

A suggestion is to purchase a Visa or Mastercard prepaid gift card which is good almost everywhere you shop. You can go online and type in Visa or Mastercard gift cards … type in your zipcode and it pulls up the stores that carry the cards in your area. If you are the recepient of one of these cards…Keep the used card with your receipt in case you need to make a return. Some stores will require that you show the gift card for a return.

Many items especially electronics, appliances etc…come with the option of an extended warranty. Here’s where you need to ask your questions. If the store goes out of business, will the manufacturer still honor the warranty? It’s a concern worth checking because often the warranty requires you to bring the item to the store. If it’s an item with their private label and the entire company goes out of business…you are out of luck. What if the store stays open but the manufacturer goes out of business…Will the store give you a replacement for a comparable item?

Ask all your questions before you make your purchase. It will save you a lot of aggravation down the road.

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