The holiday season is in full swing and it’s time to start checking people off your gift list. One popular item at this time of year is gift cards. Here are some pros and cons to giving out gift cards during the holidays.
Gift cards are super easy. As much as we would like to pick out a gift tailored exactly to every important person in our life, there sometimes just isn’t enough time. Gift cards are super convenient and can be purchased from virtually everywhere.
Sometimes, picking gifts can be complicated. If you aren’t quite sure what a friend or family member would like, but know a store they enjoy shopping at, a gift card is an easy and safe choice.
While pre-paid debit cards usually expire after a certain amount of time after not being used, gift cards do not. This allows the recipient to use the card at their leisure.
If you receive a gift you weren’t expecting, having extra gift cards ready to go is a great way to reciprocate that gift without the stress. Try to select something that is fairly generic so that anyone who receives it will be able to use it.
If the company goes out of business, the card basically becomes useless.
For the most part, gift cards can only be used at one place. So if your gift recipient isn’t a fan of the store or restaurant you selected, there’s a chance that the card (and your money) could go unused. Depending on the type of relationship you have with the person, you may feel comfortable enough to straight up ask them (or they may be comfortable enough just to tell you) so you make sure they get a card that is usable for them.
After making a purchase, the gift card holder may be left with a small, random balance that they forget about or can't use.