Tennessee has passed some consumer protection laws relating to gift cards. Under Tennessee law the minimum expiration date is 2 years from date of issue which is surpassed by the 5 year federal minimum enacted by the CARD law. Tennessee does not allow fees to be charged to issue a gift card and only allows post-sale fees after 2 years. Cards with expiration dates escheat to the state after 2 years of inactivity.
The level of consumer protection provided by Tennessee with regard to gift cards is about average compared with other states. We think Tennessee is on the right track but has room for improvement. We are encouraged by the steps taken by the federal government to provide consumer protection and hopes Tennessee will continue to improve their laws.
Tennessee became a state on June 1, 1796. Tennessee is the hub for American country music and home to Nashville, the Music City and the Ryman Auditorium which was voted the best concert venue in the nation and was home to the Grand Ole Opry for 30 years.
Presidents Andrew Jackson, James Polk, Andrew Johnson and Vice President Albert Gore were all from Tennessee. Goo Goo Clusters are also from Tennessee. Tennessee is where Oprah Winfrey was raised, it's where Elvis Presley recorded over 250 songs.
Over 6.4 million citizens make their home in Tennessee according to the US Census Bureau.
69% of Tennessee residents own their own home and 16.9% live below poverty level, which is higher than the national average of 14.3%.
Unemployment in Tennessee is currently at 8.5%.
Tennessee's Consumer Protection Laws
Learn how Tennessee is protecting consumers at the Department of Commerce and Insurance.
Sensible Amounts For Gift Cards
You want to give someone a gift card but have a limited budget. If you are buying a gift card it's best to do it where you get the most bang for your buck. You also want the gift to make sense. If you want to get a movie buff a gift card so they can go watch a movie that's great, but have you considered the cost of a movie ticket? Is it for a person or couple? A $10 gift card nowadays may not even cover admission. Best to either spend the money or choose a different merchant so it makes sense.
Consumer Tip: Offer Buy-Backs
When getting a gift card for a family member but you are not quite sure which store they would like, you might offer them a buy back. The way to do this is pick a store that you also shop at and offer them the option of keeping the card or trading it to you for cash.