How To Find The Best Gift Cards
Posted by admin on 21 Mar 2008 | Tagged as: Articles
The last two months of the year mark the time when nearly one quarter of all retail sales occur. This will happen soon, so it will be a useful reading for you.
Most shoppers plan to buy gifts not only for family and friends, but also for co-workers, teachers and baby sitters. With so many people to buy for, it’s important to know what they really want. That’s likely to be:
- Apparel (54 percent)
- Gift Cards (52.3 percent)
- Consumer electronics (38.4 percent)
- Jewelry (26.4 percent)
- Home decor (23.3 percent)
Gift cards rank high on the list of preferred gifts to receive. They are also among the most popular gifts to buy. According to the Deloitte Annual Holiday Survey, a majority of shoppers (67 percent) plan to purchase an average of 4.9 gift cards this holiday shopping season. More than $20 billion will be spent on gift cards.
Shoppers like giving gift cards because:
- They can visit fewer stores.
- They can purchase less actual merchandise.
- They can shop online.
- They can finish shopping earlier and with less stress.
- They can avoid the dreaded post-holiday season exchange of unwanted gifts.
Shoppers want gift cards that let the recipient get what they want where they want to get it, that don’t expire and that are refundable if lost.
For many gift givers, buying and giving a gift card is a no-brainer, but before you purchase a gift card for someone this holiday season – or if you receive one - there are things you should know:
- Expiration Dates. Some gift cards can expire after 12 to 24 months if not used, which means the gift card is worthless if not used by that date.
- Purchase or Issuance Fee. Needless to say, gifts cards with issuance fees should be avoided.
- Maintenance or Inactivity Fees. Some gift cards also charge a maintenance fee. Some gift cards even charge these monthly fees retroactively back to the date of purchase, which can quickly eat up all or most of the gift card’s value if recipients do not redeem the card soon after they receive it.
- Replacement Fee. Many gift cards will now allow you to register the card on their Web sites, allowing you to check the remaining balance and to request a new card to replace one that is lost or stolen. Other gift cards provide toll-free phone numbers to call to report a missing or stolen card.
- Usage Limitations. Some gift cards can be used at any store location; others can be used only at stores that are affiliated with the merchant from whom the card was purchased.
- Bank Gift Cards Still Have High Fees. Bank-issued gift cards, unlike gift cards issued by retailers, can be redeemed at any store that accepts credit or debit cards. But the advantages of bank-issued gift cards end there. Consumer Reports states that, unlike gift cards issued by retailers which have become more consumer friendly, bank-issued gift cards typically charge hefty fees and remain a bad deal overall.
- The bottom line. Check gift card fees before you buy. Those fees usually are posted on the gift card sleeve or on the Web site. Buy gift cards with no issuance fees, expiration dates or maintenance fees, which can easily be found with gift cards issued directly by retailers. And if you receive a gift card, use it promptly - not only to avoid possible maintenance fees and expiration, but also to take advantage of post-holiday discounts.
Original is located here.
P.S.
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