According to WalletHub, gift cards continue to be the most popular holiday present for the 18th year in a row. Not all gift cards are created equal, and each year, billions of dollars’ worth of gift card value is wasted, despite the fact that they provide a practical option to give without assuming someone’s preferences. Here are some tips to make sure your gift card has an effect:
Top Gift Card Tips for 2024
- Look for Discounts
Many gift cards can be purchased below face value online. - Avoid Card-Network Gift Cards
Visa and Mastercard gift cards may seem versatile, but fees can reduce their value. Cash is a more cost-effective alternative. - Don t Confuse Gift Cards with Prepaid Cards
Prepaid cards often carry fees and are reloadable, unlike traditional gift cards. - Watch for Loyalty Card Expirations
Some promotional gift cards can expire quickly. Read the fine print. - Resale Options
Unwanted cards can be sold or swapped on gift card exchanges. - Cash is Always an Option
Cash eliminates guesswork and provides maximum versatility. - Check for Unused Cards
Search for old gift cards you might have unclaimed funds. - Earn Rewards with Gift Cards
Use credit card rewards to buy gift cards, often at better value than redeeming for cash. - Consider E-Gift Cards
These are perfect for last-minute shoppers and avoid shipping fees. - Stay on Budget
Avoid overspending when using a gift card by sticking to your plan. - Inspect Before Buying
Ensure cards are untampered with before purchasing to avoid theft. - Be Aware of Fees
While most gift cards don t expire for five years, inactivity fees could apply.
After evaluating 50 of the top gift cards, WalletHub determined that Amazon, Target, Walmart, Sephora, and Starbucks will be the top picks for 2024.
See how your favorite gift cards stacked up and read the entire story by clicking here.
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