Super Fitness Health BlogGift Cards : The Advantages And Disadvantages
Gift Cards: The Advantages and Disadvantages
by: Pete Glocker
Everyone loves apple gift cards receiving and giving gift cards for special occasions. They reduce the stress of worrying if the recipient will like those jeans or shirt you bought them. They eliminate the fake smile and the “I can always use a new pair of jeans” routine from the person getting the gift. However, beware of the risks and hidden cost while using your gift card.
Consumer Advantages
Every year, gift cards are increasing in popularity. Generally, there are three different cards: store-specific gift cards, restaurant gift cards and general-purpose gift cards. Store-specific gift cards are meant to be used at the particular store and usually come with less hidden fees such as gift cards canada. Some stores like Old Navy and Banana Republic have become partners and allow their customers to use the gift card at either store. Restaurant gift cards are very similar to store-specific gift cards. They allow you to go and enjoy a nice dinner as a gift. Just make sure you tip the server the same percentage as you would if you were paying the total bill. General-purpose gift cards give the consumer a broader range on where to use the card. These types of cards are typically Visa, MasterCard or American Express and can be used anywhere those major credit cards are accepted. The flexibility is the main benefit of using the general-purpose card. You can fill up your gas tank, go out to eat, buy concert tickets or whatever else you want to do with it.
Consumer Disadvantages
Many general purpose cards come loaded with fees. According to The Lowdown on Gift Cards article on Bankrate.com, some gift-card programs like chase gift card will issue you another card if your card expires. These replacement cards will cost you from $5.95 to $10. If you order the card online or by phone you will be charged a $4.95 to $8.95 shipping and handling fee and a $3.95 to $11.95 service fee. Some gift cards will charge you a monthly maintenance fee if you still have a balance on your card after six months or a year. If you still have a balance after this period of time, a $2 to $3 monthly fee kicks in. If your gift card is lost or stolen, good luck! Some retailers will not replace a missing gift card. Other retailers such as Macy’s and Bloomingdales are more easygoing and will issue you a new card if you can provide a receipt showing your most recent purchase. Some general-purpose cards will cancel the missing card and will re-issue a new one for a $5.95 to $10 fee.
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