Retailers and restaurants are also offering gift cards as a "thank you" for making a purchase. At select Best Buy locations, shoppers who sign up for a store credit card will receive a gift card on the spot. The value of the card varies depending on the store location, says Larry Schmitt, merchandising officer at the electronics retailer.
Other options include personalized gift cards, which have the potential to benefit the giver as well as the receiver, as is the case with Visa. Starting on Thanksgiving and running until Dec. 1, Visa will give away a digital camera to the best designer of the "build your own card" contest.
What's The Catch?
As creative as retailers are getting to keep customers buying gift cards this year, many have found ways to be even more unique with hidden fees, restrictions and expiration dates that allow the issuer to keep the cash before the recipient of the card gets a chance to spend it.
To avoid restrictions, it's much safer to go for store-issued gift cards then ones issued by a bank, such as the aforementioned Visa gift card. Banks, malls and credit card companies are more likely to add expiration dates as well as tack on activation, maintenance inactivity or transaction fees, according to the National Retail Federation (NRF). Some bank-issued gift cards even charge a fee for simply checking the balance of a gift card.
Visa gift cards, for example, expire two years after being issued, in addition to charging a monthly administrative fee of $2.50 starting six months after the activation date. So a $50 gift card could be worth only $35 if it isn't used in a year.
Alternatively, only four of the top 25 U.S. retailers--Walgreens, Safeway , Ahold and Dalhaize America--tracked by the NRF had fees associated with gift cards. None of them expire. And only a few retailers, like H&M, charge a $2.10 fee for every month a gift card is left unused--but the fee only kicks in if the card hasn't been used for two years after it was issued.
"Often, consumers spend more money on gift cards because they don't want to seem cheap," Chen says. "You can find a $50 sweater on sale for $25 and no one will know, but a $25 gift card only equals $25. A present appears to have more inherent value."
No Signs of Slowdown
Despite consumers' concerns about certain retailers' financial stability or even the fees and restrictions associated with some gift cards, their popularity will only continue to grow, says Craig Johnson, president at Costumer Growth Partners, a consumer research firm.
Give the gift of food delivery with a DoorDash gift card. The DoorDash app connects your favorite people with the foods they love from more than 310,000 local and national restaurants across 4,000 cities in the US & Canada. Gift food delivery for easier evenings, happier days, and more time to enjoy the people and things they love.
Terms and Conditions: Your Gift Card is redeemable towards eligible orders placed on www.doordash.com or in the DoorDash app in the United States. Gift Cards are made available and provided by DoorDash Inc. Gift Cards are not redeemable for cash except when required by applicable law. For more information on the Gift Card Terms and Conditions, please visit dasherhelp.doordash.com/doordash-gift-cards and also -Gift-Cards-Terms?language=en_US
The Options gift card provides customers and gift recipients with flexibility rarely seen in the retail marketplace. Options gift cards can be redeemed at Gap, Old Navy, Banana Republic and Athleta stores across the US, Canada and Puerto Rico, and online at gap.com, oldnavy.com, bananarepublic.com, and athleta.com. Four brands, one card. OptionsCard.
The Hotels.com Gift Card is redeemable towards bookings at hundreds of thousands of places to stay in 200 countries and territories, ranging from international chains and all-inclusive resorts to local favorites and bed & breakfasts. The Hotels.com Gift Card can be used in conjunction with member-only-deals and promotions. For more information visit www.hotels.com/giftcards or e-mail [email protected]
Usable up to balance only for new hotel bookings at www.hotels.com/gc. Only one gift card can be redeemed per online booking, but multiple gift cards may be combined into one gift card with a maximum value of $2000 by visiting the balance transfer tab found at www.hotels.com/gcbalance. Not redeemable at hotel locations or if you choose the Pay at Hotel option online. Not redeemable toward existing bookings. Not redeemable for Packages. Not redeemable for cash unless required by law. Not reloadable. Safeguard the card. Not replaced if lost or stolen. CARDCO CXXXIX, Inc. is the card issuer and sole obligor to card owner. CARDCO may delegate its issuer obligations to an assignee, without recourse. If delegated, the assignee, and not CARDCO, will be sole obligor to card owner. Card is distributed by Hotels.com. However, Hotels.com is not an obligor to card owner. Purchase, use or acceptance of card constitutes acceptance of these terms. For balance or other inquires visit www.hotels.com/gcbalance or call US Toll Free 1-888-999-4468.
The fluffiest pancakes. Omelettes layered with flavor. And delicious, crave-worthy combos. Whatever the occasion, give the breakfast lovers in your life the perfect gift with IHOPÂ restaurant Gift Cards. And, our Gift Cards can be used at more than 1,650 U.S. locations. Plus, there are no fees or expiration dates. Visit -gift-cards to learn more.
Terms & Conditions: This gift card is usable up to balance only to purchase goods or services at any IHOPÂ restaurant in the U.S. and Canada. Not usable to purchase gift cards. Card is not redeemable for cash unless required by law. This is not a credit or debit card. Safeguard this card. It will not be replaced or replenished if lost, stolen, damaged or used without authorization. IHOP TPGC, LLC or the Franchisee of the independently owned restaurant where card was purchased is the card issuer. IHOP TPGC or Franchisee may delegate its issuer obligations to an assignee. Purchase, use or acceptance of card constitutes acceptance of these terms. For remaining balance or other inquiries, go to ihop.com or call 1-855-316-7063.
Use of cards equals acceptance of following terms. Redeemable at any Bloomin' Brands restaurant locations in the United States. Also redeemable at Outback Puerto Rico and Guam locations. Card has no replacement value if lost or stolen. No returns and not redeemable for gift cards or cash except where required by law. Treat this card as cash. For locations and balance information visit bloominbrands.com.
Razer Gold is a payment option for games and gaming services, backed by Razer. Get access to over 3000 games and entertainment apps, plus exclusive deals and giveaways, when you pay with Razer Gold! Plus, for every purchase you make with Gold, you'll earn rewards points called Razer Silver that can be redeemed for Razer gear, gift cards, game keys, and more.
GIFT CARD TERMS. Use this gift card to purchase anything on the menu at participating Red Robin locations, until the card balance runs out. Use of this card constitutes acceptance of these terms. Hold this card securely. Cards will ONLY be replaced UP TO THE REMAINING BALANCE if you submit gift card number and satisfactory proof of purchase. Not valid in Canada and where void by law. Not reloadable. Card cannot be redeemed for cash, except as required by law. Cannot be used to purchase gift cards. No expiration date or fees apply. For balance inquiries or customer service, call 888-272-6528. Issued and managed by Red Robin Distributing Company, LLC.
A Southwest gift card is redeemable at Southwest.com, 1-800-I-FLY-SWA, or at a Southwest Airlines ticket counter for air travel and other qualifying products and services. A complete set of terms and conditions is available at Southwest.com/giftcard. Gift card is nonrefundable and not redeemable for cash or credit except where required by law. Gift card is not replaceable if lost, stolen or destroyed. Protect the card like cash. For balance check, call 1-866-393-2081. Activation or use of Southwest gift card constitutes acceptance of all terms and conditions on Southwest.com.
*The Mastercard Wildlife Impact gift card is issued by Sunrise Banks N.A., Member FDIC, pursuant to a license from Mastercard International Incorporated. This card may be used everywhere Debit Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark, of Mastercard International Incorporated. Use of this card constitutes acceptance of the terms and conditions stated in the Cardholder Agreement.
The Credit Card Accountability Responsibility and Disclosure (Credit CARD) Act provides several protections for consumers who purchase certain types of gift cards, including store and restaurant (also known as merchant) gift cards. These cards can only be redeemed at the stores and restaurants that sell them. Bank gift cards, which carry the logo of a payment card network (e.g., Visa, MasterCard), are also subject to Credit CARD Act protections and can be used wherever the brand is accepted.
Under the law, a gift card cannot expire until at least five years from the date it was activated. The law also places general limitations on fees. For instance, the card issuer cannot charge a dormancy or inactivity fee on a gift card unless there has been no activity for one year and the card clearly states its policy toward that fee. In addition, some states have separate laws that provide added protection in certain circumstances.
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