It’s funny that this post came up, because me and a friend was just talking about how she wants a gift card for Old Navy from her brother. She wants the gift card, because if he gave her cash she was going to come up with an excuse to use it on something else. With the holidays in heavy rotation, gift cards on going to be purchased left and right. There are pros to having the plastic gift, but there are also a few cons. Drop down bottom to see what they are.
JaaiR (JR)
PRO – Save money. You can save money on gift cards if you know where to buy them. Some gift card retailers offer 5-10% discounts on certain stores. I recommend going simple with an Amazon gift card or shopping at Plastic Jungle for deals on a wide range of discounted gift cards (Plastic Jungle is a gift card reseller which allows you to buy and sell gift cards at big discounts!). You can save more money by using cash back credit cards.
CON – Look out for fees! Read the fine print before purchasing gift cards because some of them come with an automatic monthly or annual fee. Some cards may not begin charging fees until a certain amount of time has passed. The fee and time limits vary, but it’s not unusual to hear about a 2% monthly fee, or a flat rate fee of several dollars per month. These fees are more common with third party gift cards and are less common with gift cards for a specific store.
