Don’t know what to buy everyone for Christmas? Just found out about a birthday party and need a last minute birthday gift? The easy solution is to buy a gift certificates or gift card, especially if the person you are buying for has a favorite place to shop. But there are some issues you should remember before buying that gift card. Example, some gift cards expire, others can only be used at the location you bought them from. There may be activation fees, transaction fees, inactivity fees, and replacement fees that can eat up a lot of the value of the card. Now the gift card isn’t looking like such a good idea, is it? It’s not all doom and gloom, lets have a look at what you should be looking for before you hand over your hard earned cash.
Retailers that sell gift cards do not normally charge for the card itself. Banks however do for the most part charge a fee whenever the card is used. Most bank issued cards come with a Personal Identification Number (PIN) that can be used like an ATM card. You should definitely read the fine print before you buy the card, by law they have to list all the charges. If you don’t have time to read them you can...