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I think credit cards have an expiration date because it gives them a contractual âoutâ by saying a contract was only for a stated period and not an open-ended contract. The magnetic strip is a bunch of hogwash. The credit card companies do not want to send out millions of cards just because they might wear out.
Expiration date. There is one other significant difference between gift certificates and gift cards: Gift cards expire. Typically, a gift card retains its full value for a year or two. After that, a service charge or maintenance fee kicks in. Each month, the card loses a few dollars or a few percent of its value, until it becomes worthless. It's isn't obvious why companies do this; it hardly seems worth the bad PR.