The Ellicott City, Md.-based online gift card exchange business allows
customers to sell their unused gift cards for cash, exchange them for
another gift card or purchase unwanted gift cards for cents on the
dollar.
But the real genius behind the company's business is one of
its newest policies, called the Gift Card Bankruptcy Protection Policy,
announced on Nov. 24.
Under the new policy, customers that have bought gift cards from its
Web site from retailers that have entered bankruptcy can now redeem
100% of the unused portions on their cards by submitting their claims
to Giftcardrescue.com within 30 days of the bankruptcy filing.
That could amount to $100 million back in the hands of consumers,
which should come as good news for consumers who didn't tap their
plastic cash before the companies that issued them went under. At a
time when consumer confidence needs a shot in the arm,
Giftcardrescue.com may just help provide one this holiday season.
- Carolyn Okomo
Worried holders of gift cards bearing the brand of bankrupt retailers
such as Linens Holdings Co. (Linens 'n Things), Circuit City Stores
Inc. and Tweeter Opco LLC (Tweeter): fear not. A company called
Giftcardrescue.com has got you covered. 
