Do You Know Your Rights When It Comes to Gift Cards?

If you received any gift cards over the holidays -- or if you plan to give any in the coming year -- read on: New Federal Reserve regulations implemented after the passage of the CARD Act stipulate that any gift certificate or card has to be good for a full five years after issuance. This holds true whether the card is one issued by a store, restaurant or other retail establishment, or one issued by one of the big guns, such as Visa or American Express.

Unfortunately, though, anecdotal reports like this one seem to indicate that, at the very least, companies aren't being very proactive about training their front line employees in the new law. So what do you do if you have a perfectly legitimate gift card that is refused when you try to redeem it?