Gift cards can be a really great idea both for yourself as a budgeting device (learn more about this: here) and as gifts for other people. But there is an okay way, a right way, and an awesome way to purchase them.
Okay: Gift cards that cost money
Generally if you have to pay more money above and beyond the actual value of the gift card, it's not a great idea. These usually come in the form of a spend-anywhere-visa-type-card. Occasionally you may want to send money to someone and this may be your best option, but generally speaking you don't want to pay for money. It just doesn't make sense.
Sometimes these are also found when you are buying a gift card from a location other than the place where it's meant to be spent. So make sure the retailer isn't tacking on an extra fee for the convenience of buying a restaurant gift card at your local supermarket.
Good: Gift cards bought at face value
There are a lot of times and circumstances when gifts cards are a good idea. You know what they are, so I'm not going to list them all here.
Awesome: Gift cards that are worth more than you paid for them
Whenever possible this is the best type of card to get. They come in many forms. Some restaurants will give you a bonus $5 gift card for every $25 card you buy.
Also, gift cards purchased at stores who offer points for purchases can give you a major rewards bonus for buying your gift card there. For example Safeway grocery stores offer triple points on gift card purchases that can then be redeemed for major ($1, $2, or $3 off a gallon!) discounts on gas. So your gift card isn't just worth face value, it's also an extra tank of gas too!
This is especially true around the holidays. So keep your eyes and ears open for these types of promotional specials.
Marcia
No comments:
Post a Comment