Gift cards are meant to fivebackgift.com make holiday shopping a little simpler, but they can have hidden fees that eat away at their intrinsic value. Learn how to use them wisely.

State and federal consumer laws offer many protections for gift card consumers, including required disclosures and limits on fees and expiration dates.
Buying a Gift Card

A gift card is a convenient and thoughtful present for just about anyone. However, it’s important to know that there may be extra fees attached to the purchase of a gift card. It is also a good idea to comparison shop when buying a gift card to ensure that you are getting the best deal. Some of these additional fees include a dormancy fee, expiration date and other restrictions set by the merchant or bank that issues the card.

When buying a gift card, make sure to save the receipt until after the card is redeemed or used. The card number and pin should be kept secure, and the recipient should never reveal these to others. In addition, the card holder should keep an eye on the balance of the card and report any suspicious activity to the card issuer.

Some gift cards are limited in the purchases they can be used for, including restrictions on online or in-store usage or specific retail locations. Likewise, some cards have pins that must be revealed, which can only be done when the card is first activated. Some gift cards even have expiration dates, which can be a real problem for some recipients.

Gift card fraud is a serious problem. Some thieves attempt to steal money from the value of a gift card by recording the touch-tone numbers associated with the gift card. Another common scheme involves selling unused gift cards to unsuspecting people over the phone or through an email. This is a form of identity theft, which is illegal in most states.

If you’re looking for a way to treat yourself or someone else, consider buying a Five Back Visa Gift Card. This card features a variety of brands, such as Nike, Staples and Bed Bath & Beyond, and offers 5% cash back on every purchase. The Five Back Visa Card is available at participating merchants, and a full list can be found on the Frequent Miler blog.

Some gift cards have extra fees that can add up quickly. This is especially true of open loop prepaid cards such as Visa and MasterCard. These cards may charge a small transaction fee each time the card is used, which can quickly deplete the balance.
Redeeming a Gift Card

Gift cards are a great way to buy items at your favorite stores, but they also come with some fees. To avoid these fees, be sure to read the fine print carefully and check the expiration date. Additionally, make sure to register the card if it is possible. This will help you track your balance and keep the card safe in case it is lost or stolen.

If you are using a physical gift card, you can redeem it by typing in the code or scanning it. You can also use a mobile app to redeem a gift card. In addition to letting you track your gift card balance, the app also lets you create a schedule to automatically load additional money onto the card. However, this feature is not available for all types of gift cards.

When you redeem a gift card, you should first check its balance to ensure that it is activated. This should have happened at the time of purchase, but you can also check by calling the customer service number or visiting the company’s website. Next, you should enter the exact amount of money you wish to spend on the card. This will prevent you from overspending, as two-thirds of consumers spend more than the card’s face value, according to Consumer Reports.

If the card is a closed-loop gift card, you can only use it at specific merchants. For example, the Five Back Visa Gift Card can be redeemed for 5% back on purchases made at Nike, Staples, Bed Bath & Beyond, and more. It’s a good idea to save the receipt for both the purchase and the activation.

Unlike credit cards, gift cards don’t have annual fees or inactivity charges. This makes them a popular gift for holiday and birthday gifts, or even for a special surprise. Just be sure to keep the receipt until the gift card is redeemed and spent, or you may lose money.

Many retailers allow you to redeem your gift card online, so it’s important to check the store’s website before shopping. Depending on the retailer, you can either type in the card number or scan it using your mobile phone’s camera. In some cases, you can even choose to pay for a large order with multiple gift cards.
Selling a Gift Card

If you received a gift card for a store that doesn’t sell the type of products or services you enjoy, you might want to think about selling it. Not only will this save you the hassle of trying to find a buyer, but it will also allow you to get your money’s worth. This is particularly true during the holiday season when many people are looking to cash in on their unused gift cards.

There are several ways to sell a gift card, including online and in person. However, it’s important to understand the hidden fees associated with each option. Many of these fees are not disclosed at the time of purchase, and can add up quickly.

To avoid these fees, always compare prices before buying a gift card. Check for hidden charges like service fees, shipping fees and expiration dates. You may even find that you can buy the card for less if you shop around.

Some retailers are even offering a “buy one, get one” promotion for their gift cards, which can be a great way to sweeten the deal. This can give you a chance to try out a new retailer or even to buy a product you would have otherwise never tried before.

A popular website for selling gift cards is Raise, which offers a free listing for most major brands and pays you upfront for the value of your card. The company then deducts a 15 percent fee before sending you the rest of your balance via PayPal funds, check or an ACH direct deposit.

You can also use a mobile app to sell your gift cards. These apps will let you know how much a retailer will pay for the card, and can help you decide whether to accept their offer or not. Some apps will also offer you a price quote for the card and will send you a pre-paid shipping label to ship it.

If you prefer to sell in person, you can find many gift card exchange kiosks in malls. These locations offer higher payouts than online options, but you should be aware that hidden fees can add up quickly. It’s also best to comparison-shop to find the best offer for your unwanted gift card.
Using a Gift Card

Gift cards can be a great way to save money and give others a thoughtful gift. However, it is important to be aware of the fees and deposits associated with these cards before purchasing one. Most banks will charge a fee if a gift card is not used within a certain period of time, or if the card expires. The card issuer must also disclose these fees in the terms and conditions of the card.

A gift card is a plastic or digital card that can be redeemed at a retailer for the amount of money stored on it. These cards can be purchased in-store or online, and can be used to purchase merchandise or services. They can be used in conjunction with a credit or debit card, or as an alternative to cash. Gift cards are a popular choice for holiday gifts, birthdays, or other special occasions.

Using a gift card is simple and convenient, and can be done in many ways. If you are a frequent purchaser of a certain type of item, you can purchase an entire amount on a gift card and pay for the purchase in advance. This can help you avoid paying for an item at full price, which can be a big savings in the long run.

You can also use gift cards to pay for things you would normally pay for, such as gas or food. This can help you save money and reduce your bills, which will be especially helpful during tough times. But you should remember to spend the card soon, as some retailers have expiration dates on their cards.

Some people don’t use gift cards as they should, and end up losing them or forgetting about them. A recent survey found that over 25 percent of the gift cards given by consumers never get spent. Fortunately, you can avoid this by encouraging recipients to use the cards soon after they receive them.

Another way to ensure that you’ll use your gift cards is to budget them. Look ahead on your calendar and identify weeks where you know you’ll be low on cash. During those weeks, consider using a gift card to buy groceries or other items, or put the money towards paying down debt.