Buyer Beware: Sharper Image Gift Card Restrictions
In case you need another reason to convince you that gift cards suck, check this out… Sharper Image filed bankruptcy on February 19, 2008 and promptly stopped honoring their own gift cards. This was actually a byproduct of the bankruptcy proceedings, but they initially told the court that they wouldn’t seek an exception to allow them to honor the $42.6 million in outstanding cards.
Sharper Image eventually changed their tune, however, when Brookstone (another mall specialty store) took advantage of the situation by offering cardholders a 25% discount on their entire Brookstone purchase in exchange for their card. They ultimately got permission from the court to resume honoring their gift cards but, as things currently stand, you have to make a purchase that is at least twice the value of your gift card.
Full details on gift card redemption can be found here.
Published on March 14th, 2008 - 3 Comments
Filed under: Miscellany
email this article
- bookmark it
About the author: Nickel is the founder and editor-in-chief of this site. He's a thirty-something family man who has been writing about personal finance since 2005, and guess what? He's on Twitter!
Related articles...
» Citi Thank You Redemptions? No Thanks» Beware the Siren Song of Gift Cards
» Buying Gift Cards at a Discount
» Gift Card Poll Results
» Credit Card Reform: Inside the CARD Act of 2009
» Carnivals – Week of 11/26/07
» Q&A: Earnest Money
» The World’s Most Practical Five Year Old
Was this article useful? Please sign up to receive our content via e-mail:
Great deals...
Readers’ choice...
Recent articles...
- Effect of Foreclosure, Short Sale, and Bankruptcy on Your Credit Score
- DIY Garage Kayak Racks: Fast, Frugal, and Effective
- Lending Club $25 Bonus Reminder
- Coupons are a Waste?
- How to Save Money on Pet Care
- Best HSA Custodian?
- Considering a High Deductible Health Plan
- Pay Back the Homebuyer Tax Credit?
- How to Find a Good Deal
- How Much Does Your Debt Cost?
Recent comments...
- Tim Rosen: Pros and Cons: Pros: a.) A systematic discipline to save/invest on a regular basis, for a...
- Matt Jabs: @Tim: Thanks, I hope this article helps get even one person on the...
- Tim Rosen: Excellent Matt! A very practical, real-world plan that I believe anyone can "flesh out"....
- Jerry Robertson: Your article has great information about the large companies going out of business, but...
- laura: I have a foreclosure on my credit from Jan 2007 and my FICO score...
- nickel: Ron: Good question, and I have no idea as to the answer. It could...
- Christina: While foreclosures wreck less havoc on the score than a bankruptcy (according to your...
- Ron: Why do you think those large mortgage lenders are switching over to Vantage? Does...
Most talked about...
- Dave Ramsey is Bad at Math
- $8,000 Homebuyer Tax Credit
- Dish Network Customer Service SUCKS
- How to Claim the First-Time Homebuyer Tax Credit
- $15,000 Homebuyer Tax Credit
- Reduced Credit Limits? Share Your Experience
- Would the "Fair Tax" Gut the Economy?
- Tax Stimulus Rebate Payments to Start Early
- Pay Off Mortgage Early? Or Invest?
- The Best Online Savings Accounts (Updated!)
- Life's Too Short to Drink Cheap Beer
- $7500 First Time Homebuyer Tax Credit
Stumble It!
Digg It!
Tip It!
del.ico.us
Facebook
EXCELLENT move by Brookstone.
Comment by Bill — Mar 14th 2008 @ 2:36 pmSmart marketing move on the part of Brookstone…
Comment by thehungrydollar.com — Mar 15th 2008 @ 3:03 pmI like the marketing move on Brookstones part and the gift card situation just baffles me. They are going out of business and the customer has techincally already gave them the cash, so why can’t they take the items that will go to liquadators anyways?
Comment by Tom — Mar 17th 2008 @ 5:20 pm