Gift cards remain the most popular holiday gift for the 18th consecutive year, according to WalletHub. While they offer a convenient way to gift without guessing someone’s preferences, not all gift cards are equal, and billions of dollars in gift card value go unused annually. Here’s how to ensure your gift card makes an impact:
Top Gift Card Tips for 2024
- Look for Discounts
Many gift cards can be purchased below face value online. - Avoid Card-Network Gift Cards
Visa and Mastercard gift cards may seem versatile, but fees can reduce their value. Cash is a more cost-effective alternative. - Don’t Confuse Gift Cards with Prepaid Cards
Prepaid cards often carry fees and are reloadable, unlike traditional gift cards. - Watch for Loyalty Card Expirations
Some promotional gift cards can expire quickly. Read the fine print. - Resale Options
Unwanted cards can be sold or swapped on gift card exchanges. - Cash is Always an Option
Cash eliminates guesswork and provides maximum versatility. - Check for Unused Cards
Search for old gift cards—you might have unclaimed funds. - Earn Rewards with Gift Cards
Use credit card rewards to buy gift cards, often at better value than redeeming for cash. - Consider E-Gift Cards
These are perfect for last-minute shoppers and avoid shipping fees. - Stay on Budget
Avoid overspending when using a gift card by sticking to your plan. - Inspect Before Buying
Ensure cards are untampered with before purchasing to avoid theft. - Be Aware of Fees
While most gift cards don’t expire for five years, inactivity fees could apply.
WalletHub compared 50 of the best gift cards and landed on the following for 2024: Amazon, Target, Walmart, Sephora, and Starbucks.
Click here to read the full story and see how your favorite gift cards stacked up.
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