Today, gift cards are emerging as one of the most popular and easy ways of giving gifts. A gift card is a prepaid stored-value money card that is issued by most major retailers and even banks in the country. The recipient of the card can use it to purchase their favourite products from the retailer website or store which has issued it.
You can determine the monetary value of the gift card at your discretion and pay for it using any online payment modes. If you use a credit card, you can use it to pay for your gift card and then pay the dues at your own convenience.
However, there are a few points that you should bear in mind while purchasing a gift card with your credit card:
Buy from credible sources
Since you are sharing your credit card details with the retailer who is selling the gift card, it’s very important to avoid unsecured websites or stores with low credibility.
With a fake retailer, not only does your card information gets compromised, but the gift card may also turn out to be counterfeit.
Decide on the gift amount
Most major retailers give you the option of choosing the amount which you want to load into the gift card. With a credit card, the temptation of purchasing a high-value gift card is always strong, particularly when the card is for a dear one.
But it’s important to not overestimate your debt repaying capacity and to invest an amount that you can pay off easily.
Check for additional fees
Although most major gift cards do not carry any associated fee like a convenience fee, delivery fee, redemption fee, etc., it’s wise to go through the terms and conditions of the card once.
This way, you eliminate the question of paying something extra with your credit card other than the maximum retail price of the gift card.
Check the expiry date
Most gift cards come with an expiry date which usually stretches up to a few months from the purchase date. You should check for the expiry date of the card because, after that date, it would not be honoured by any retailer.
Check for reward points
Before purchasing a gift card with your credit card, you can check to see if you’ve accumulated any reward points on your card that you can redeem against the purchase. This will bring down the cost of the gift card. You may also be eligible to earn reward points and cash back on the purchase.
Retain the purchase receipt
If the recipient encounters any problem in using the gift card, the same receipt can come to your rescue again.
Check for EMI payment option
If you find it difficult to pay the entire purchase amount at once, check with your credit card issuer if the amount spent on purchasing the gift card can be converted into EMI. If it is allowed, you can pay off the amount in easily manageable monthly instalments.
Decide on the gift card type
While some retailers give you the option of purchasing a digital card (also called e-card) that would be sent to the recipient on their email ID, others sell physical cards that would be delivered to the recipients through the post.
Seek delivery confirmation
Once the gift card has been purchased and sent to the recipient either through email or post, check with the recipient if they have received the same.
Although the chances of failed delivery are faint (if the mailing address or the email ID have been correctly entered), it’s better to check with the recipient about the card.
Purchasing a gift card is certainly a great idea to surprise its intended recipient. You can use your credit card to purchase the gift card and make the entire process utterly safe and simple by following the above-listed points. You would love the overall experience and the recipient would surely appreciate this gesture.