Gift cards: what you should know
A gift card or voucher is a form of prepaid card with funds or stored value issued by a particular brand. These vouchers can essentially be used as an alternative to cash payment while purchasing products from a distinct retailer, brand, or related business. Gift cards have emerged as a popular gifting option in modern times, owing to the host of advantages offered by them.
Giving gifts, especially during special occasions and events, has been a long-time tradition amongst people. But when it comes to purchasing the best gift for the near and dear ones, it often becomes challenging. More so, because of the busy schedules that people have and the plethora of options available to choose from. This is why most people choose to present gift cards instead of conventional methods of gifting. Examples of gift cards are iTunes, Amazon, Steam Wallet, Foot Locker, Visa, Play station, Walmart, Starbucks, target, Google Play, Apple Store, eBay, Walmart, Sephora, OneVanilla, Nordstrom, JCPenny, Blue Buy, Nike, Hotels.com, Macy’s, Gamestop, Xbox, Vanilla, G2G, American Express (AMEX), OffGamers etc.
Advantages of gift cards
A modern way of gifting; Giving gift cards is one modern way of gifting, especially to people that are difficult to select gifts for to avoid making wrong choices. Gift cards provide varieties to choose from
It helps to limit spending; Gifting gift cards help you stay exactly on budget. For example, say you intend to spend $500 for gifting in a physical store, you can get attracted to something else that probably costs $600. With gift cards, you decide your budget and spend according to it. Thus, a gift card provides an affordable way of gifting without exceeding your budget.
Gift cards afford convenience; Gift cards eliminate the need to carry cash around when going to a retail outlet to shop. It is safer and comfortable to move around and serves as an alternative for cash payment.
Easily converted to cash; one of the great advantages of gift cards aside that it serves as an alternative to cash and can be easily converted to cash. Various platforms perform this conversion; Gifthub is an example. We trade all kinds of gift cards! Once your card is confirmed, you’ll get paid within 3-5 minutes. We offer swift and fast payment with the best rates.
Some of the Shortfall of gift cards
Online Fraud; Scammers gets to target gift cards because it is always difficult to trace. Cheques or the regular cards issued at banks are easily traced because they are attached to a person while gift cards are not. Some of the methods they employ are either ask you to send your card pin to offer you a double package or disguise as an online platform that converts gift cards to cash. In stores, some thieves secretly unveil the packing of the cards to view the codes. Once you notice the package of your card tampered with, drop It and pick another one.
Gift cards expire if you don’t use them over a specified period; For some cards, the expiration dates are stated, and for some, it takes five years from the date of purchase. Some also attract extra charges if not used within a specified period. Therefore, you would want to consider this before purchasing your gift cards.
Some cards can only be used in certain stores; There are some cards that have either mastercard or visa card logo on them. These cards are accepted anywhere, but there are some other cards that can only be used at specific stores. You have to be sure when shopping for gift cards ( applies to cards that are specific to certain stores) that the recipient will need the product of such store.