Why you shouldn’t buy gift cards as presents this Christmas

People who are undecided about what gifts to buy for Christmas should be wary about resorting to gift cards or vouchers says The News consumer expert Richard Thomson.

With a significant number of national high street shops and store chains in financial difficulties there is a risk the ubiquitous Christmas gift standby will become worthless if the retailer goes into liquidation.

Christmas is nearly here

Christmas is nearly here

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‘Cards and vouchers may appear to be a reliable standby,’ he said ‘but if the business folds it’s a safe bet they can kiss their money goodbye.

‘Although they’ll technically become creditors to the business, they’re at the bottom of the pile with any claim for a refund from the liquidator if the retailer goes bust.

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‘If gift ideas elude shoppers they should consider gift cards and vouchers as a very last resort and only spend modest amounts on them to minimise their losses in case the business folds.’