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Gift Card Fees in DelawareThe rules governing gift cards are currently set by each state. The state of Delaware does not have any laws in place regulating gift cards. Gift card issuers are allowed to charge fees on their gift cards in Delaware at this time, but this will change for Delaware in the summer of 2010.
The Federal government passed a law called the Credit Card Act of 2009 which dictates the minimum gift card requirements for all states. Gift cards issued in Delaware will have to abide by the Credit Card Act of 2009 rules for gift cards when it takes effect.
The Credit Card Act of 2009 covers rules for both bank issued gift cards and store issued gift cards. The two main requirements are:
1. Gift cards are prohibited from expiring for five years from the date that the gift card is purchased or from the last date any money was reloaded onto the gift card.
2. Gift cards are prohibited from charging fees during the first 12 months from the time of purchase.
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