Hidden fees on gift cards: The Real Deal

Published 12/11 2013 03:33PM

Updated 12/11 2013 06:03PM

Syracuse (WSYR-TV) - Gift cards are a popular present during the holiday season, but when it comes to the general purpose gift cards like the ones with Visa, MasterCard and Discover logos - we've got ‘The Real Deal’ on why you may want to be careful of hidden fees.

The research group BankRate.com found that most, if not all, of the general cards charge more fees to either buyers or users than store specific gift cards.

Many of the cards contain a purchase or activation fee that can range anywhere from $2 to $9.

If the card is not used, you may be subjected to dormancy or maintenance fees.

Some even charge users if they don't use the full value of the gift card within a year’s time.

If you are unaware how much money is on the card, the fees to check the balance inquiry can range anywhere from 50 cents to a dollar.

Finally - there's not many - but some cards will even charge a transaction fee every time the card is used.

If there's something you want The Real Deal about, call us at (315) 446-9900 or email YourStories@LocalSYR.com.

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