Smart Gift Card Buying Tips
Save hundreds of dollars per month or year using these valuable gift card buying tips.
Take advantage of gift cards.
During the year, consumers reportedly purchased more than $18 billion worth of gift cards. Knowing a couple gift card buying tips can help you maxmize your spending power.
Know if there are strings attached to the gift card. In particular, consumers should know that some gift cards have expiration dates; others have fees that can lessen the card’s value, including activation fees, transaction fees, monthly maintenance fees, and inactivity or non-use fees.
Here are some consumer tips to make sure you maximize the use of your cards.
Read the Fine Print.
Read the fine print before you buy. If you do not like the terms and conditions, get another card or buy elsewhere.
Check Expiration Dates.
Each year retail stores make a fortune on expired gift cards. When buying a card, ask about expiration dates and fees. This information may appear on the card itself, on the accompanying sleeve or envelope, or on the issuer’s Web site. If you do not see it, ask for it. Make sure that whatever the salesperson tells you is in writing.
Look for Exceptions.
Check on purchase exceptions. For example, can you use a store-specific gift card at both the physical store and the store’s Web site? Can you use a store at any location or sister company. Can an “all-purpose” card really be used to buy groceries or gasoline?
Treat Cards like Cash.
Don’t let the pennies go unused. Treat gift cards like cash and don’t be embarrased to use a gift card even if there is only a couple dollars remaining on it. Also, if your card is lost or stolen, report it to the issuer immediately. You may be out the entire amount on the card. Some issuers will not replace the cards, but others will replace them for a fee.
Shop When Stores Have Sales.
Take advantage of holidays and sales. There is nothing like finding a bargain and then using a gift card to pay for it! Leverage and save money all year round.
Organize your gift cards.
Store your gift cards in a safe place. We recommend creating a special spot in your house whree you can keep all your “money savers” (e.g. coupons, giftcards, and special offers.) Be sure and use online websites like the Grocery Coupon Network to find new discounts, special offers, and coupons on the web.
–> Happy shopping! Save money today.
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