Nine Post-Holiday Tips for Gift Givers and Recipients

The holiday gift-giving season is coming to an end, but it may be just the beginning for some gift-related task. Here are nine post-holiday chore you might need to do, whether you're a gift giver or 
recipient.

Don't put off returns. If you're planning to return a gift, make sure you carefully follow the merchant’s return policy. You may have just 30 days or less to bring or send an item back for an exchange or refund. With many retailers, the return period for some products, such as electronics, may be shorter than for the other merchandise they sell. And if you need to exchange a seasonal item, such as clothing that's the wrong color or size, supplies may be limited.

Also keep in mind that some stores may not accept the return of items that have been opened. Even if they do, you’ll likely need the original packaging. So if there’s a chance something may need to go back, don't just start using it, and keep the box or other packaging it came in.

Fight for your rights. For gifts that arrive broken, have missing parts, or have been misrepresented, the gift giver should contact the retailer immediately. Unless the gift was sold as-is (which isn't  allowed in a handful of states), it doesn't matter what a store's return policy is. Customers have a right to get what they paid for. If you shopped online or by phone, it's  your right to reject an item that arrived later than the seller promised or after 30 days if no promise was made. In fact, the law requires sellers to issue a refund automatically when such delays occur. If the retailer refuses to make things right, the gift giver should seek a charge-back from his or her credit card issuer. (Hopefully, a credit card was used for the purchase.) The product manufacturer also may help resolve an issue, especially if it's warranty-related  or a involves a missing part. But don't feel like you must deal with the manufacturer, even if the package contains a notice instructing you not to return the product to the retailer, as many seem to do these days. The fact is retailers are responsible for what they sell. And dealing with a retailer, especially if it's a local store, can be a lot easier than working things out with a manufacturer that's hundreds of miles away.

Check your credit card and bank statements. Make sure that your statements accurately reflect your gift purchases. Look for incorrect amounts, double billing and charges for things you didn't order or that you cancelled. If you see an error, contact the seller immediately. If the merchants refuses to correct the problem, or if there's fraud, let your credit card issuer or bank know immediately.

Request receipts. If may sound tacky, but you may need the receipt to return an item or make a warranty claim with the manufacturer months or even years from now. For non-receipt returns, a merchant may deny the return or give you a refund for store credit for the item’s most recent selling price, not necessarily the amount the gift giver paid. In addition to the regular receipt, many stores provide gift receipts, which don't display the amount the gift giver paid. A gift receipt likely will entitle you  to a store credit, not a refund. On the other hand, if you have the regular receipt, any refund may go back to your give-giver's credit card and not to you. 

Return warranty registration cards.  Under federal law, companies are allowed to require you to register the product as a condition for honoring a limited warranty. (That’s not permitted for full warranties, a relative rarity these days.) So return the card or provide the information on the manufacturer's website, if you're given that option. Another benefit to registering the product is that it can help the manufacturer contact you if there’s an issue with the product, such as a safety recall. Along with your name and contact information, some registration cards ask for details about the activities you engage in, your income and education levels and other personal details for use in marketing to you. You don't need to provide that.

Send in rebate requests. If you purchased gifts that include manufacturer or merchant rebates, submit the rebate form as soon as possible so you don't forget or miss the deadline. Rebates often require you to send the UPC code from the product packaging. If you don't have it, you'll need to request it from your gift recipient.. Hopefully, he or she still has the packaging; otherwise, you may be out of luck. Keep in mind that once you submit a rebate request, the retailer likely won't allow you or your gift recipient to bring back the item under its return policy. 

Read and save product manuals. You probably can think of better things to do with your time. But it's important to read the manuals that came with your gifts, not only for information about how to set up and use the product, but for details on how to maintain it properly. Misusing a product or failing to perform the manufacturer's recommended maintenance could void the express warranty. And the manual may include important safety warnings. If you don't already have a good place to store your manuals, now is a good time to set one up. While you're at it, attach the receipt in case you need it later on.

  

Review and update your inventory and home insurance. You may need to add those gifts to your personal inventory in case you need to make a claim because of a fire, flood, theft or other loss. Also review your policy limits. If you received valuable gifts or purchased expensive items for members of your household, you may need to increase your coverage or, with certain items, such as pricey jewelry or art, purchase a floater policy to cover them specifically.

Use and register gift cards. If you received gift cards, plan to use them right away. Many cards can't be replaced if lost or stolen. And for those that can, issuers often require that you register the card or provide the original purchase receipt (another reason to request receipts.) Another concern, especially with retailer-issued cards, is that the store, restaurant, health club or other establishment might close locations or go belly-up, making its gift cards card difficult or impossible to use. (If an issuer goes bankrupt, cardholders usually end up with little or nothing from the bankruptcy proceedings.) And don't think you have nothing to worry about if you received a bank-issued gift or prepaid card, one with a major credit card logo. They typically have fees that can slowly diminish the card’s value.