 |
Finance and Forex Trading Forum
Get inside information on the latest stocks and moneymaking ideas!
|
|
|
|
| Author |
Message |
Anonymous
Guest
|
 Posted: Thu Dec 13, 2007 11:21 pm Post subject: The Best Gift Cards to Buy |
 |
|
Here's an MSN Money piece on the differences in various types of gift cards. The article can be summarized with the opening:
| Quote: |
Cards sold directly by retailers don't have fees and are less likely to have expiration dates. Before you buy a card that can be used more widely, check the fine print.
|
And a few of the more important points in the piece:
| Quote: |
The distinction between cards with fees and expiration dates and those without them depends on the issuer. The retailers' gift cards -- known as closed-loop cards because they can be used only at that retailer -- carry no fees. Of the cards Bankrate surveyed, only Bloomingdale's and Macy's cards had expiration dates.
Cards that can be used in many places -- known as open-loop cards -- have fees and include expiration dates, after which monthly deductions are made until the balance is zero. The open-loop cards are from American Express, Discover, MasterCard, Visa and the six largest operators of shopping malls.
Though these open-loop gift cards cost from $2.95 to $6.95 to purchase and have expiration restrictions, they can be used like credit cards.
|
So here's the summary of the two types of cards:
| Quote: |
1. Cards purchased directly from retailers don't have fees and most don't expire. But the can only be used at that retailer's stores.
2. Open-loop cards can be used anywhere a credit card is accepted, but have fees (and fairly high ones -- imagine paying $2.95 or more for a $20 gift card -- ouch!) and expiration dates.
|
We give a lot of gift cards every year and have NEVER used an open-loop card. We buy cards from Meijer (a local superstore) for people living in our area and from Target for people in other states. We figure everyone can find something they like from either of these places and there's no cost or expiration on the cards. Works for us.
How about you? What sort of cards do you use and from what stores?
[link]
[link] [link] [link] [link] |
|
| Back to top |
|
 |
|
|
|
|
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
|
|
|
Profile 
Log in to check your private messages | 
FAQ 
Search 
Memberlist 
Usergroups 
Log in
Register
