Despite hassles, Mass. has some of best gift card laws

The short answer is: If the business is gone, so is your money. There are limited situations - if there’s a bankruptcy involved and gift cards are specifically addressed, or if the business reopens under another name - in which there would be some hope.

But what you should know is that Massachusetts has one of the most consumer-friendly gift certificate-gift card laws in the nation. Gift certificates in Massachusetts must be accepted at least seven years after issuance - with the exception of those issued by a national bank. The same seven-year rule applies to merchandise credits issued after an item is returned.

Here’s an example of why getting more time is a good idea. New York Yankees’ gift cards, for example, expire in one year and may only be used to buy tickets. That means if you couldn’t purchase tickets to a game you were able to attend within 12 months, you could just lose the credit. Officials for the Yankees say they’ll still honor expired certificates - which doesn’t explain why they set such a short expiration date.

One reader who is familiar with the nuances of Massachusetts law wanted to make sure that everyone knows this: If you use at least 90 percent of the value of your gift card or certificate, the merchant has to give you the option of taking the remaining balance in cash. That provision is there to help people avoid having a few dollars lingering on a gift card that never gets used again. Gift certificates are required to have an expiration date printed on them. If they don’t, the law says they must always be honored by that merchant.

Gift cards have long been a boon to businesses that sell them. Consumer advocates generally recommend against giving them since surveys have shown more than a quarter of all gift cards issued remain unused after a year.

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