Top Things You Need To Know About Gift Cards

You would hardly find anyone who doesn’t like getting a gift card. It is just like having extra money that you can shop with. Gift cards contain a monetary amount stored in it which is issued by the retailers or bank to its customer. It can be used as an alternative of cash and is very easy to carry rather than carrying a stash of cash. It is also issued by organizations or companies for their employees.

Gift card benefits both retailers and shoppers. As gift cards are confined to particular retail premises. It helps the retailer as a customer returns back to the store to swipe the rest of the money left in the gift card. It is also known as the cash card. It is used to make a purchase up to the limit from the particular store to which it is assigned.

If you are one of those who are searching to get more information on gift cards, then you must read the following article until the end. You are perfectly at the right place as today with the help of this article, we are going to provide you major details regarding things that you should know about your gift cards. So, without wasting any time let’s get started….

Top Things You Need To Know About Gift Cards

Things You Should Know About Your Gift Cards

1) It benefits both sides

As you love shopping with gift cards, retailers are also happy while billing your purchase. People always intend to think of gift cards as free money and that’s the reason they make the purchase of the amount more than the limit in the gift cards. They add up a little bit of their own money to buy the thing that they want. If you are left with money in your gift card, the retailers know already that you would return back to the store sometime to utilize its full value.

2) A smartphone can resolve the problem of carrying a card

Gift cards are mostly redeemed through smartphones. You can get your gift card stored in some apps that allow storing the gift card on your phone.

You can use those cards to make a purchase online. You just need to enter details and click the front picture of the gift card in that app.

3) Retrieve your card and money against theft or loss

Earlier, it used to happen that if the card gets stolen or damaged, it will be lost permanently. In other words, gift cards were put parallel to cash. Now, you can easily retrieve your amount or your card by registering it for anti-theft or loss to the issuer.

4) What to do when cards don’t work?

Sometimes the cards malfunction by not working or showing less value than promised. In this situation, you just need to have the activation receipt. You can go to the retailer (if issued) or store and could show the activation receipt to the person in charge. If proved then they will take it back. If the card is issued by the bank, you can call the toll free number that is on the back of the gift card.

5) Gift cards are big Business

For starters, you must understand just how big the gift-card market is. For estimating its business, the National Retail Federation has estimated that gift card spending will total $27.6 billion this holiday season, as well as, that those buying cards will buy about four cards each, with an average value of $45.

Gift cards are also bought for various other occasions, like birthdays, and the total spending over the year is estimated at around $160 billion for 2018, up from nearly $100 billion in the year 2011.

6) You Can Sometimes Return Unwanted Gift Cards

An additional option for unwanted gift cards that will sometimes work is simply returning them. Some retailers will take back a gift card, but at the same time only offer you less cash than the card’s face value, for example, returning a $50 card may only net you $45. Some other retailers may simply offer an in-store credit — which isn’t very different from having a gift card.

7) Gift cards can expire, but not within five years

Most of the people have learned the hard way that gift cards can expire. The Credit CARD Act of 2009 limited the aggravation that buyers experience by necessitating most gift cards do not expire until five years further than the date the card was bought or the date on which funds were last added to the card.

So, one must don’t let a gift card’s expiration date take them by surprise. If you’re giving a gift card, then you must read the fine print first, to know the terms — and maybe give the receiver a heads-up about the rules, as well. If you’re the happy receiver of a gift card, if you’re not planning to use it in the coming days or years, then it’s smart to figure out when it expires or to make a point of using it within five years.

8) You can Sell unwanted Gift Cards Online

Here’s a great silver lining for any gift cards you have that you don’t know what to do with and that is that you can sell them online. You may possibly have got a $100 card to a store you need nothing from, for instance, or you might basically prefer to have some cash than to spend a card at its planned location. If that’s the case, then you must head to sites like cardpool.com, cardcash.com, cardhub.com, raise.com, or junkyard.com, where you can sell your unwanted cards, gaining up to about 70% of their stated value, usually and sometimes even more than 90% of the value.

9) Gift Card Balance Online

Prepaid gift cardholders can check their gift card balance online. there are various prepaid cards such as vanilla gift cards, Starbucks gift cards, subway gift cards. if you are a subway gift card holder then you can check your account activity, register card, and balance details through the Mysubwaycard website.

Conclusion

In this article, we have discussed many things about things that you should know about your gift cards to give you a clear picture of the gift card. Hopefully, this information will be beneficial for you. I hope this article has helped you to know more about the things that you should know about your gift cards. Let us know in the comments section how the experience with this information goes for you.

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