2.28.20 Don't put your tax refund on a gift card; Clark Stinks

The Clark Howard Podcast · Feb 28, 2020 · 38m

Recently Clark discussed how AT&T issues refunds on stored value cards. These cards are intentionally tricky to spend down – disallowing partial payments by design to keep some of your money through ‘breakage’. Several tax preparation services are now trying to sell customers on accepting their refunds on stored value cards or even Amazon gift cards. These cards have ridiculous junk fees – monthly fees, per transaction fees etc. Putting a tax refund on any kind of spending card is a bad idea. The best use of a tax refund is to pay down debt or contribute to a Roth. Don’t fall for these…