Gift cards are the top choice for American consumers
in 2004 and for the first time, gift cards will replace
apparel as gift purchases.
Why are so many people choosing debit gift cards?
Convenience.
Debit gift
cards are easy to buy and easy to give as gifts.
Gift cards alleviate the
stress of trying to figure out what to buy or what to
give as gifts for loved ones. Also, for the receiver,
gift cards are perfect because they are relieved
of the pressure of having to return a gift because an
item was not to their liking.
Not to mention the added
bonus that
gift cards allow the recipient to purchase
what they want when they need it!
Retail businesses benefit from gift cards as well
because with the proliferation of debit gift cards, retailers
won’t have to deal with quite as many returns from
customers unhappy with gift purchases that were made for
them. An additional benefit to retail businesses is that
with the use of gift cards, retailers don’t have to
issue a new certificate for the balance when only part
of the amount is spent, as is the case with
store-branded gift certificates.
Debit
Gift
Cards Explained
Like debit cards, debit gift cards can be
used to withdraw
money from an ATM or to make a purchase at a store.
Moreover, like the prepaid debit cards mentioned here, all-purpose debit
gift cards aren't tied to a
person's bank account and they're preloaded with a
specific amount of money.
Some can be
reloaded when the initial amount runs out. There
are many types of excellent gift cards available on the
market being offered by a variety of companies. Some
debit gift cards include:
Visa Gift Card
including: MasterCard
GiftCards, MasterCard Consumer GiftCard
and Prepaid GiftCard.
Store-Specific Gift Cards
A.J. Wright Gift Card
Adidas.com e-Gift Card
HOT!
AMC Theatres Gift Card
Armani Exchange Gift Card
HOT!
ATandT PrePaid Gift Card
Barnes and Noble e-Gift Card
Banana Republic Gift Card
babystyle e-Gift Card
HOT!
babyGap Gift Card
HOT!
Bath and Body Works Gift Card
Bed Bath and Beyond Gift Card
Best Western Gift Card
Black Angus Steakhouse Gift Card
Blockbuster Gift Card
Bloomingdales Gift Card
HOT!
Borders Books Gift Card
Dominos Pizza Gift Card
Dinner and a Movie Gift Card Bundle
HOT!
Generally speaking, gift cards are of two types: gift
cards that are specific to a certain store and
all-purpose gift cards. Gift cards that are specific to
a certain store, obviously, have to be used to buy
merchandise from that specific store or through the
store's web site. However, not all can be
used for online shopping, so be sure to read the terms or inquire about using your gift card via
the store’s website interface first.
The All- Purpose Types
On the other hand, an
all-purpose debit gift card from
Visa, MasterCard or American Express may be used
worldwide where these cards are accepted. The key
advantage is the flexibility
you have in using them. These all-purpose gift
cards can be used for online shopping or for making
purchases in your local shops.
However, depending on how you look at things, this
advantage could also be the disadvantage because all of
this convenience comes at a price in the fees that goes
along with these all-purpose gift cards.
I’ve done my best to research the best gift cards
for you here, but it is best to make sure for
yourself so that you are aware of all costs involved
before signing up for any gift card.
My suggestion is that if you know a person's likes, a
store-specific gift card is better because these gift
cards are less likely to charge high fees.
If, on the
other hand, you want to send a gift card to someone in
another state or country, then the all-purpose debit gift card
would be better because it may be cheaper than trying to
send money via bank wire and Western Union.
One example of good all-purpose debit gift cards are
the MasterCard
GiftCards. Here you will find all kinds of debit
gift cards including the personal GiftCard, an ideal gift
card that you can give as a gift to anyone on any occasion.
This type of gift card saves you the time of spending
hours shopping around for the right gift for someone. It
also allows the receiver to choose what they want when
they want it.
There's also the Business GiftCard
which is a debit gift card award for employee
recognition and rewards. These are ideal for employment
anniversaries or sales, etc.
Gift
Card Fees
Whenever you give or receive a gift card, you should
always try to check the terms of the card for monthly
maintenance fees. Some charge a monthly
maintenance fee if you still have a balance on your card
after a period of time. It is, of course, best to know
what this period of time is before those charges go into
effect.
If you’ve lost your gift card, many programs will send you a replacement card with your
remaining balance on it. However in most cases, there is
a fee for this replacement. Fees can range anywhere from
$5 to $10.
Additionally, many charge a fee for
withdrawals. These fees can range anywhere from $1.00 to
$3.00. Some may even charge more if the withdrawal take
place outside of the country that the gift card was
issued in.
Lost
Or Stolen Gift Cards
I hope that this never happens to you, but if your gift
card is ever lost or stolen it is best to know your
rights before things like this do occur. This is why I
stress the point of making sure that you read the terms
of each card before signing up. Also, the safety advice
that I gave you in the section called Debit Card
Education still holds true and useful for gift cards as
well and will help you if you are ever in the
unfortunate position of having your gift card lost or
stolen. Some of those safety tips included the following:
-
Report lost or stolen cards immediately to your issuer.
-
Keep your receipts in a safe place for purchases
that you made with your gift card in the event you
need to return or exchange merchandise
-
Know how much you have in your account so that you
can know if unauthorized debits are made.
-
Write your gift card details down in a safe place
– include the number, expiration date, and any
other important information. Then, if your card is
lost or stolen you will have all the information you
need to report to your card issuer. Do not keep this
information in your wallet.
Despite following the best safety precautions, some companies’ policy in regard to lost or stolen gift
cards are very strict – particularly store specific cards who will not replace your card if you
have lost it, while others can be very lenient and will
issue you a new card as long as you have proof of your
most recent purchase.
Cashing
Out Your Gift Cards
Many store-specific gift cards aren't redeemable for
cash. And in this case it makes more sense to get the
value out of the card by shopping with it. Many of the
all-purpose ones such as the ones branded by
Visa,
American Express and MasterCards can be used for
withdrawals and in some cases will send you a check for
your remaining balance however, like everything else
there is a fee for this as well.
Other Important Gift Card Isssues
Many general-purpose
debit cards allow you to check your balance online
and by calling a toll-free number.
Often store-specific
gift cards will allow to check your balance online,
or right in the store itself, while in some cases they
will provide you with a toll-free number for this
purpose.
It's also a good idea to
keep track of your balance on your own.
As always, keep your
receipts for purchases made with your gift card in a
safe place. That way you'll know specifically how much
value is left on your card.
Your receipts will also
come in helpful if your card is lost or stolen and it
helps you to keep track of the value left on your card
if in the event there is no toll-free number to check or
if you are ever overseas with your card. Additionally,
with some gift-card programs, you have to supply your
most recent receipt before a replacement card will be
sent to you.
Always be aware of the
expiration date of your gift card. With some gift cards
once you’ve passed the card’s expiration period, they
are no longer useable. Other gift cards will make
allowance for this situation.
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out My
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