The Best of What You Could Do With Unused Gifts
Saving | February 1, 2010 at 1:30 amOn Black Friday, I bought myself the latest trendy timepiece in the market. On Christmas my friend presented me the same item. Now what am I supposed to do? I couldn’t probably be impolite to her and not accepted the gift. I can gift the extra piece to someone but let me think over other possibilities. I’m in need of some of money too so I like to think about ways in which I can recover money spent on extra items.
I can return back the purchased items to the store I suppose. But then I seem to have lost my receipt in the holiday emergency (You know, a lot of relatives flooding your house with bag, baggage and gifts and you are so absent-minded about managing small things). So, the store will not accept the item and refund me my money. Ah! I can always give the item to my credit card issuer who’ll accept it within 3 months of the purchase. Mark this friend, even if you happen to lose the receipts of items or bought them online or even if the return date expired, your credit card issuing company can always come to your rescue if it’s got the return protection policy. Just read the fine print and it’ll be probably mentioned 
there, if the company has it.
The return protection policy of credit card companies is specially advantageous to those buyers who might want to return items bought from the store, after the normal period of expiry of the store’s return policy. American Express, Visa and MasterCard all have good return policies. They are going to take your goods if the store refuses to and you are going to get the cost price. But there may be some constraints and rules which seem to be fair enough to me. After all, the credit card companies are helping you in cashing on your items which may otherwise have been lying as a waste in your house. There may be limitations on the number of times you are allowed to return your gifts and refund your money or the time period in which you can do so. American Express also sees to it that every client is satisfied with the return policy. Visa’s return protection has $250 as the upper limit of refund for items returned and on the whole, in a year, you could refund about $1000 on the whole. It is necessary for the items returned to be in a good and working condition. If I’m not mistaken MasterCard seems to be offering greater flexibility when it comes to your claim on the goods returned. Not only goods that you are dissatisfied with, but also those that are damaged or stolen are worth a refund with the company. But the upper limit of the refund is up to $ 250 only and the claim should be made within 60 days of the date of purchase and only when the store from which it is bought refuses to accept it.
So, I’m going to my credit card company to get a refund on my extra timepiece, what about you?
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I’ve known about this little secret tip when I signed up with Discover a few years ago, but I’ve never actually used it.
I hardly ever make an impulse purchase; I research all of my buys for days before actually committing.
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