Got gift cards for Toys ‘R’ Us? With the toy story’s recent announcement that it plans to close all U.S. stores, the Better Business Bureau is reminding gift card holders to spend them as soon as possible. If you don’t, you risk losing out on their value. According to Toys ‘R’ Us, the chain plans to honor gift cards, along with its customer programs, until April 15, 2018.
The BBB says that under normal circumstances, Federal Trade Commission regulations declare that money on a gift card can’t expire for at least five years. However, when a store files for bankruptcy, payments are frozen and creditors must file claims in order to get paid. Gift card holders may unfortunately find themselves out of luck or with limited options since the court determines whether and for how long gift cards will be accepted.