Daniel Gritzer

As a consumer, it’s easy to get caught up in the excitement of receiving and using gift cards. However, the fine print on expiration dates can often be confusing and frustrating. In this article, we’ll explore the truth behind Mastercard gift card expiration dates, so you can make informed decisions about your purchases and avoid losing valuable funds.

1. What are Mastercard gift cards, and how do they work?
Mastercard gift cards are prepaid cards that can be used to make purchases at any merchant that accepts Mastercard. They work like debit cards, but they are preloaded with a specific amount of money, which can be used until the balance is exhausted.

2. Do Mastercard gift cards have expiration dates?
Yes, most Mastercard gift cards have expiration dates. These dates are typically printed on the card itself or included in the packaging. However, some gift cards may not have an expiration date, depending on the issuer’s policies.

3. How long do Mastercard gift cards typically last before they expire?
The expiration date on Mastercard gift cards can vary from issuer to issuer, but most cards are valid for a period of 12 to 24 months from the date of purchase or activation. It’s important to check the expiration date on your card and use it before it expires to avoid losing any remaining balance.

4. What happens if a Mastercard gift card expires?
If a Mastercard gift card expires, the remaining balance on the card will be forfeited. In some cases, you may be able to request a replacement card or a refund for the remaining balance, but this will depend on the issuer’s policies.

5. Can you extend the expiration date on a Mastercard gift card?
In some cases, it may be possible to extend the expiration date on a Mastercard gift card. However, this will depend on the issuer’s policies and may involve additional fees or other restrictions. If you’re unsure about whether you can extend the expiration date on your card, contact the issuer for more information.

1. Understanding the truth about expiration dates on Mastercard gift cards can help users save money and avoid unnecessary fees.
2. By knowing when their gift card will expire, users can plan ahead and use the remaining balance before it’s too late.
3. Being aware of expiration dates can also prevent the frustration of realizing a gift card has expired and left them with useless plastic.
4. Overall, taking the time to uncover the truth about expiration dates on Mastercard gift cards can lead to a more positive user experience and greater financial peace of mind.

In some cases, when your prepaid card expires, you might have to pay a fee so that you do not lose your money. Check your cardholder agreement to see if there are actions you need to take to prevent this loss. If your prepaid card expires while you still have money on it, you may be able to request a replacement card to access the funds. You may also try to close out your account by requesting that your balance be mailed to you in the form of a check. The provider might charge you a fee for this. Be sure to check your cardholder agreement to see if you can get back the money that may still be on the card when it expires. The rules for gift cards are different. Gift card funds must be good for at least five years under federal law, and some states laws give you more time. Under federal law, inactivity fees can only be charged after 12 months of inactivity and if other conditions are met. Searches are limited to 50 characters. Please do not share any personally identifiable information PII , including, but not limited to your name, address, phone number, email address, Social Security number, account information, or any other information of a sensitive nature. Skip to main content. Prepaid cards and other prepaid accounts. Dont see what youre looking for? Can I overdraft my prepaid card? What is a prepaid card? Learn more about prepaid cards. Search for your question Search for your question. Was this answer helpful to you? Additional comment optional Please do not share any personally identifiable information PII , including, but not limited to your name, address, phone number, email address, Social Security number, account information, or any other information of a sensitive nature.
By law, gift cards cannot expire in less than 5 years, but there may be non-use fees. CARD Act into law. This law, which mostly deals with consumer protection from credit card companies, also included new rules for gift cards. Some highlights of the new rules are as follows. The law states that a gift card or general purpose prepaid card may not expire any earlier than five years from the date of activation or the date when funds were last added to the card and that if there is an expiration, the terms and conditions of that expiration must be clearly disclosed prior to purchase. Typically, that means companies will print the expiration time-frame if it exists on the card itself or on the carrier holding the card at the time of purchase. Once the gift card law went into effect, companies complied and, in many cases, just eliminated expiration dates altogether. Several states also subsequently passed even stricter state-level gift card laws that made expiration dates illegal. To avoid confusion across state lines e. To be absolutely certain that your gift card will not expire, read both the front and back of the card to find the terms. If the store goes into Chapter 11 bankruptcy , then the gift card may be impacted for a different reason. If your card has expired, call the card company anyway. It used to be that gift card companies charged fees to load cards and immediately began imposing monthly fees to deplete the balance of the gift card until the full load value had been drained. Gift cards are now exempt from dormancy, inactivity or service fees unless the card has gone unused for a year and the non-use fee terms are clearly disclosed prior to purchase. Plus, no more than one non-use fee can be imposed per calendar month. Use any remaining value quickly to stop further inactivity fees from being charged. Follow these tips if you keep forgetting to use your gift card. Activation or reload fees are allowed if the fee amount or explanation of how the fee will be determined is clearly disclosed prior to purchase. Are you seeing a pattern here? Federal law is telling gift card issuers to put it all on the card tableto tell the consumer everything he or she needs to know about fees and expiration dates before purchasing a gift card. Since disclosure is required by law, read before you buy. Prepaid phone cards, promotional gift cards, loyalty cards and paper gift certificates are not covered by these rules. If you receive a gift card without paying for it e. The next time you go to the store, pay with the promotional gift card. Continue to do so until the balance is depleted. More information on promotional gift cards here. As previously mentioned, many states passed gift card laws as well. If the state laws are more stringent, they take precedence over federal gift card laws. To find out if your state has passed any state gift card laws , check this matrix. Knowing my state laws has helped me get the best value for my gift cards on more than one occasion. No surprises. If you are wondering about the terms on a gift card you already have, then read itfront and back. If you have other gift card questions or need gift card help, add a note in the comments below or leave a message on GCGirlfriend on Twitter. The Giftcards.