What to do with gift cards if a business closes

Posted at 3:41 PM, Jan 06, 2017
and last updated 2017-01-09 12:31:46-05
You know that gift card you got for Christmas? What happens if the business goes out of business?
Two people let me know it happened to them. Both Connie and Marilyn say they got gift cards for Lone Star Steakhouse.
There were several locations in the Valley, but the restaurants recently closed in Arizona.
So these ladies feel they are stuck.
I tried getting answers from the chains owner, Day Star Restaurant Group, but calls were not returned by the time this was published.
Unlike Sports Authority, Linens and Things and others, Lone Star does still have some locations open nationwide. While I'm not driving to California to use the card, it does offer other opportunities.
First, with any similar situation, call the business repeatedly. Post on their Facebook page and demand a refund or a place nearby to use the card.
If the gift giver used a credit card to buy it, ask them to dispute the charge. With many credit card companies, you have 60-90 days to do that.
And since some locations are still open, try a gift card exchange site like Someone in another state where Lone Star Steakhouse exist can use that card.
Finally to all gift card givers, spend a few minutes researching before you buy.
These restaurants have been closing for years. While you can't predict what would happen here, it is a warning sign.
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