How to choose gift credit card.
Michael Huch
When it comes to shopping for someone's birthday or holidays, I like to give a gift card. My way of thinking is like that of many it is that why should I buy them something they may not like then they have to go exchange it for something they want. If I get them a gift card they can get what they want to start with. Statistics say that a gift card is #1 gift to recieve for women and #3 to recieve for men.
Are we really giving our loved ones a well thought out gift or giving them a gift that can be a real nightmare. Many gift cards have expiration dates or other hidden fees that could make its use very complicated. There are tho main kinds of gift cards on the market: retailer issued and bank issued. Let's study them.
A retailer issued card is a gift card issued by a particular store to be used in that store. These cards most often do not have any expiration date or fees for not using the card because they know that they will get the money when the card is used. This may even bring a new customer into the store to shop. So the retailer benefits and they see no need to attach fees or expiration dates.
A bank issued gift credit card (http://www.freemortgage-leads.com/articles/415250-gift-credit-cards-what.php) is a card that bears a credit card logo, such as visa or master card. These cards usually have expiration date and loading/shipping fees. Americans have lost millions of dollars by buying these kinds of gift cards because many times they do not get used before they expire.
As a giver you should do your homework before you purchase a gift card. Usually gift credit cards could be loaded between $25 and $600. Also, you will need to pay for shipping. For security reasons, gift credit cards greater then $100 have to be shipped to the gift purchaser.
Gift credit cards are secure gifts. They are safer then cash because they can be replaced if lost or stolen. Plus, they provide the protection and security features you've come to expect from Visa or Mastercard.
As a receiver of a gift card you should use your gift card as soon as possible that way you can be sure they are no hidden fees. The two main reasons that a person don't use gift cards is because they don't have time to shop or they don't know what to buy. You need to know, that gift credit card can be used for online purchases as well. Just keep in mind that it will take time to deliver Christmas present.
A gift card is a great gift to give or to receive. Be careful that you are not a victim of loosing your money by doing your research on the cards that you are interested in, and the person you are giving it to.
|
