A gift card is a paid up front, stored-value money card, which is usually issued by a bank or a retailer. It can be used as a substitute for cash purchases within a particular retailer/store or some other related business. In this piece, we will promptly glance through some of these gift cards, and eventually take a look at the pros and cons of them.
- MasterCard Gift card:
This bespoke e-gift can be used online everywhere, where a debit MasterCard is accepted. These virtual cards are sold at participating retailers. This card does expire, the expiry date is printed on the front of the card image. Nevertheless, the funds don’t expire.
- Visa Gift card:
Visa is world-widely known, and the most accepted Credit Card Company. Akin to the MasterCard, Visa can also be used online everywhere, where it’s accepted. The minimum and maximum amount of this card range from $10 to $500. Although, there is an added fee for purchasing new cards.
- PlayStation Network Gift Card:
This digital service is offered by Sony Interactive Entertainment, chock full of various entertainment options. It is seamless for watching TV shows, movies, listening to songs, or even playing video games. By purchasing a PlayStation gift card, we can have access to all of these electrifying services and products.
- Sephora Gift Card:
We can save a great amount of money by purchasing Sephora gift cards if we like to invest in skincare and makeup products. While we get a great discount from the card, Sephora doesn’t stop at that and adds three free samples to top it off.
- Starbucks Gift Card:
Whether you’re a caffeine addict or just a measly coffee-enthusiast, we’ve got you covered! With the purchase of this card, we can earn free drinks by becoming a ‘Starbucks Rewards Member’, stock up discount, get a free birthday drink, and most importantly skip the prolonged queues!
Advantages:
- These cards can act as a great alternative form of payment if we don’t prefer to pay cash or use a credit card at the given moment.
- As the name suggests, they can be great gifts for Christmas or any other special occasion.
- A great tool to put a leash on our spending.
- Easy and fitting to use.
Disadvantages:
- In some cases, after the procurements of products are done with the card, there may be a bit of amount left, which can end up wasted.
- We might have to reload fees to add money, or pay purchase.
- There is limited purchasing power on closed-loop cards.
- Losing these cards can be a literal headache, particularly if we have failed the task of registering it, or have forgotten to keep the gift card number.
- We could be fined a dormancy fee if we have failed to use our card.
That was all about gift cards. Like a coin with two sides, they have their cons and pros, but if you are a generous spender, the pros tip your scale of decision regarding whether to purchase one or not. We hope this article has served its purpose and helped you in any way possible.
