7 Things You Didn’t Know About Gift Cards
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It’s that time of year again! As we head towards the festive period you may well be thinking of buying gift cards for your loved ones as Christmas presents, especially as many of us are currently trying to avoid spending too much time out and about shopping.
Gift cards remain a popular option for presents as they allow the recipient to choose whatever gift they would like with no worries about getting the style, size or brand wrong.
7 Things You Didn’t Know About Gift Cards
While people could, of course, give cash instead, I think the expectation with a gift card is that it will be spent on a treat or put towards something special, rather than cash which might unintentionally be swallowed up on everyday expenses.
1. Gift Cards Have An Expiry Date (and it can be pretty short!)
It can be easy to forget that gift cards have an expiry date. It depends on the retailer, but it can be anything from three months to two years.
I am guilty of waiting for a sale or particular shopping trip to spend a gift card and then it just doesn’t end up happening. Or, I’ll swap purses or handbags, the gift card never ends up getting swapped back and I finally find it when I need that sparkly clutch again the following Christmas.
There’s nothing worse than finally going to spend a gift card only to discover it’s expired. Setting a couple of reminders (such as three and six months time) on your phone when you receive a gift card is a great way to jog your memory that the card is there and needs to be spent!
2. You Don’t Have To Pay Full Price For Gift Cards
Did you know you can actually buy discounted gift cards from Cardyard.co.uk? This is a great way to save a bit of extra cash, especially when making a large purchase.
As you’re already at the point of buying, it’s unlikely the gift card will end up going to waste and you could end up saving as much as 20%. Perfect if you’ve already found a bargain or a fantastic Black Friday deal.
3. One In Ten Gift Cards Don’t Get Used
As many as one in ten gift cards don’t end up getting used – usually because they get lost or forgotten about and then expire.
This means millions of pounds each year going to retailers which is never actually redeemed by the general public.
Retailers say they actually want people to spend these gift cards as typically we see them as free money and often splurge way over the amount on them.
4. You Can Buy Gift Cards For Digital Products
While it can be easy to think of gift cards only being for physical shops, there are now lots of gift cards available for digital products too, such as digital streaming services.
I think a year’s subscription to a streaming service such as Netflix or Now TV makes a nice gift for the whole family if it’s not something they already pay for.
Especially as cinema trips this year have been so limited, snuggling up for family movie nights over Christmas sounds perfect to me.
5. Lose Them And You Lose Out
It’s true what they say, gift cards should be treated like cash (well cash that has an expiry date at least!)
If they’re lost or stolen there is very little that can be done to get them back and you’ll lose whatever balance was on the gift card.
If you have a receipt and the gift card number, some retailers may be able to issue a new gift card, but very often that isn’t the case. My advice is to keep them safe and spend them as soon as you can.
6. You Can Check Your Balance Online
If you’ve had a gift card lurking in your card or purse for a while, you may have forgotten how much money is on there. It could still have the full amount or you may have only spent some, but not all, of the balance.
Most retailer’s websites have an area where you can input the gift card details and find out how much the remaining balance is. For some, you may need to ring a free phone number and input the card details on your mobile keypad (I know from experience this is the case for Next gift cards).
Knowing the exact balance on your gift card makes you more inclined to spend it, especially if you don’t want to spend more than that amount.
7. You Can Exchange Them For Cash
If you have a gift voucher you really don’t think you’ll use, you can exchange it for cash. While you can’t take it back to the retailer, you can sell it to Cardyard.
Cardyard buys gift vouchers and while you’ll get slightly less than the value of the card, you’ll have money to spend anywhere you like.
The process does take a couple of weeks to complete but it’s well worth it if you somehow end up with a voucher you’re unlikely to spend.
See my full post on how it works here.
While some people may suggest gift cards have had their day, I think they still make an excellent choice for a gift, especially if you choose somewhere like Amazon which sells pretty much everything anyone could want.
Would you be happy to receive a gift card this Christmas? Let me know in the comments!
