When we are clueless as to what could be a perfect gift item, and when it comes to giving an unplanned gift, gift cards come in handy. Gift cards have earned popularity in being a choice for birthdays, events and all other social functions.
In this article, we will go over the diverse ways we can use gift cards, the different types of gift cards, how you can get a good value for your gift cards whether you buy or sell them
Different Types Of Gift Cards
There are two different types of gift card and they are:
Cash cards can be used in different places and they are sponsored by establishments like Visa, MasterCard and American Express.
Advantages of Cash Cards
- Flexible and can be used anywhere gift cards are accepted.
- Can pay online bills.
- They can be used to store money.
Disadvantage of Cash Cards
- They may not necessarily serve as great gift items as they are a direct substitute for giving out cash.
These are cards that are specific to a particular store or retailer such as Macy, Banana Republic, etc.
Advantage of Store Cards
- It allows you get more personal with giving out a gift item as it suggests care by the giver.
Disadvantages of Store Cards
- They have quicker expiry dates. Most store cards last for a period of 30-90 days.
- Store cards have a demurrage policy, which means it loses value every month.
Factors To Consider When Choosing and Redeeming Gift Cards
To know the right ways to redeem or choose gift cards, these factors are pertinent.
- Flexibility: Cash cards are very handy and flexible because they can be used practically everywhere. While store cards can only be used at specific stores.
- Cost: Store cards, in most cases usually don’t have extra charges and are suitable for their full face value. Cash cards on the other hand charge a fee when issuing a card. They also start charging a maintenance fee after a year, which could really drain the value of the gift card.
- Expiration: For store cards, the expiry dates usually depends on the store issuing the gift card. If the store shuts down, the gift card also becomes useless. Cash cards usually have an expiry date of five years from the date it was issued.
What Can I Do With Unwanted Gift Cards?
Pretty much. Many people end up with gift cards they do not exactly need. Here are a few things you can do with an unwanted gift card.
Trade it: No, you do not have to ‘re-gift’ a gift card, you can actually get good cash for it based on the value of the card. Platforms like Cardtonic allow you sell your gift card and get paid very well for unwanted gift card. You can also exchange your gift card for Bitcoin, if you are considering investing in cryptocurrency.
Re-gift It: If you do not need a gift card, you may consider giving it out to a friend or any loved one.
Donate it to Charity: Gift Cards can also be donated to charity.
As aforementioned, Cardtonic provides a platform for everyone to trade gift card conveniently. Cardtonic allows trading with quality service and speedy payment. Needless to say, the platform provides a flexible means of trading to suit the peculiar needs of people. Simply put, trading can be done through the website , instant messenger and a mobile app that gives you room to trade conveniently.
Worthy of mention is the high rates you get for your gift card. Above all mentioned reasons and crux of this platform is the platform itself, which prides itself in years-long preserved efficiency, reliability and easy transaction. The introduction of the mobile app makes trading speedy, stress-free and a whole lot fun.