American Express is finally dropping their annoying dormancy fees just in time for the holidays. The company previously began charging a $2 per month deduction after an American Express gift card sat dormant for 12 months. Now thanks to consumer complaints and a third party company, the Simon Property Group, no fee American Express gift cards will be rolled out at 230 malls across America. The products are being promoted as the “100% gift” which will most likely fly way over the average consumers head. Most people who buy a gift card expect to receive 100% of the balance on the card regardless of how long they wait to use.
If you are still concerned about dormancy and other hidden fees remember that there is one sure way to get full value for your gift card. You can always sell your gift cards to Giftah and get cold hard cash upfront. If you don’t know when or if you will use your card its the perfect way to free up some real money to use immediately.
Tags: AE Gift Card, American Express, American Express Gift Cards, American Express Gift Certificate, Dormancy Fee, Gift Card Dormancy Fee, prepaid American express, prepaid credit card, Simon Property Group