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Thinking of buying a gift card? Don't buy them before doing this!

Gift cards are great until the issuing store goes bankrupt. Here’s what to know before you buy.

CHARLOTTE, N.C. — Check your wallets! 

If you have gift cards from Bed, Bath & Beyond, Monday is the final day to use them as the retailer continues to wind down operations at all 360 stores across the country. 

The chain's closure brought about many questions regarding gift cards in general. They're a popular gift because they seem fail-proof ... that is, until the issuing store goes bankrupt. 

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If you're considering a gift card for a friend or loved one, the Better Business Bureau has four tips to help protect your purchase. 

1. Research

Before you buy a gift card, search reputable news sources for articles written about the business's finances. If you find credible information that the business is experiencing financial problems, the BBB recommends thinking twice about purchasing a gift card. 

2. Read the fine print

Know the terms and conditions of using the gift card before you purchase. There are cases where you might be able to use the gift card at other businesses.

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3. Buy with a credit card

Buying with a credit card offers an extra level of protection should something go wrong. Your credit card company might be able to get you your money back if a business closes.

4. Act quickly

Once you have a gift card, use it as soon as possible.

Contact Carolyn Bruck at cbruck@wcnc.com and follow her on FacebookTwitter and Instagram.   

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