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As you’ve likely heard, Toys R Us is going out of business and closing all of its remaining stores. USA Today has reported that stores will accept gift cards for the next 30 days: gift cards should work through April 13, 2018.
If you’re holding onto gift cards, it’s probably not wise to do so for long. Liquidation sales will likely draw in crowds who may well buy up most of the worthwhile merchandise before it hits a deep discount. Speculators may look to buy gift cards at a steep discount to buy discounted merchandise to flip, but that will certainly be risky business.
In anticipation of something like this coming my wife placed an order last night using up Toys R Us gift card money we received from our baby registry. While I’ll be shopping liquidation sales as much as anyone else, I wouldn’t want to get stuck with unusable cards.
H/T: Doctor of Credit
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For the record, sign in store and Website both say April 21 is deadline to use gift cards. Website is no longer taking orders, but no problem using cards at the stores right now.
[…] last month’s announcement that Toys R Us was going out of business, we let you know that their gift cards could be used in store up to April 13, […]
[…] R Us. As we reported yesterday, you can still redeem Toys R Us gift cards through April 13th (See: 30 days to use Toys R Us Gift Cards), but you can no longer buy new cards of any type. Unfortunately, this includes Gift of College […]
With Babies R Us closing, any other stores selling gift of college cards or other ways to buy them?
At the moment, the other “best options” are geographically limited (HEB Texas grocery and Fred’s Pharmacy). There are also online options, but they are more expensive. Read more here:
https://frequentmiler.com/best-options-buying-gift-college-gift-cards/
I should add to that: I have to imagine that GoC will feel the pinch here. It’s sounded like they have been trying to expand all along, but I’d think that this could create a greater sense of urgency for them.
While your out shopping it might be time to start liquidating Sears cards as well. The end has to be near for them as well.
With a baby arriving in less than two months I’m certainly happy I didn’t do a Babies’R’Us registry. And also really happy I can attack some liquidation sales. Interested to see what kind of deals can be found.
Any idea on gift of college cards? Can we still buy them in store if available?
I don’t know. I would assume if it’s still on the rack you can buy it, but I imagine they won’t be getting any more stock….YMMV.
No — registers won’t allow any gift card purchases even if you find them laying around the store
Jatan is correct — TRU is no longer selling any gift cards.
I can’t believe they had register programmers / IT support that would sprint to action upon the looming job loss!
There goes my plan to leave work early today and grab all GoC cards I can find on the shelf…
They don’t process 3rd party GCs themselves (similar to other retailers) — they partner up with another company and get to keep a small portion of the funds.
Back of GoC card shows Fastcard/InComm — InComm can’t take the risk of not getting paid by TRU during bankruptcy so they most likely stopped all GC activations coming from TRU