Paper or Plastic

Referring to gift cards. You may have received some as a gift during the holidays.

California has put in a new law (SB 250) effective January 1, 2008 that require retailers to give cash back for the balance of any gift card worth more than$10. Prior to that no matter whether it was ten cents or ten dollars it remained on the card.

If you are like me I use the card and then any remaining amount I never remember and the card goes back in my wallet. The retailer has already received their monies. Many of these retailers exist on unclaimed discarded gift cards.

Once California does this and it is successful I sure do hope that other states follow. I must admit I don't know of any other state that does this. If they do let me know.