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Gift Card – Who Offers Them And Smartest Ways To Use It

By Author: neha sharma
Total Articles: 1245

"Gifting something as per his/her taste is the most daunting task. No, seriously. If we do not find anything suitable, we zero down on offering cash. This scenario is prevalent, especially during weddings. Again, the question arises how much of money is enough money? Thanks to the invention of gift cards, a considerable pressure is eased off from our shoulders.

What is a gift card?

The rectangular card has prefilled amount that can used at single or multi-chain stores. A gift card is available for every product from movie tickets to branded shops to travel and so on. Also, you can buy either the physical or a digital variant of the card. You can buy gift card paying via net baking, credit/debit card and cash. It is recommended to purchase gift cards with longer validity and of smaller value so that they can be used in instalments. Gift cards are usually valid anywhere between 1 to 3 years.

Who offer gift cards?

1) Single retailer gift cards: Such cards are bought at a particular branded store. For example, Shoppers Stop offers either vouchers or physical card for certain amount that cannot be redeemed against all products. Retailers provide gift cards anywhere between INR 250 to INR 50,000.

2) E-commerce gift cards: These are highly popular and almost every e-commerce portal offer gift cards, either in digital or physical form. Myntra, Amazon give away cards for special occasions such as weddings, birthdays, anniversaries, etc. Even coupon websites like Grabon and Woohoo provide e-gift voucher that are purchased extensively. E-commerce website gives e-vouchers for the range of INR 10 to INR 20,000.


3) Bank gift cards: Banks such as HDFC Bank, ICICI, etc. have their set of gift cards. A bank gift card is prepaid that comes with a PIN. For acquiring the gift card, you need not be their customer. You have to load a minimum amount of INR 50 that extends up to INR 50,000. Just like credit/debit card, you can check the balance in the card. However, you cannot withdraw money. They come with a restriction: you can use the gift card only at Visa, and MasterCard enabled outlets.

Smart ways to use a gift card:

1) Spend sooner than later: What if the store shuts down due to uncalled circumstance? Or the retail shop is going under loss? It is advisable to use the gift card as soon as possible.

2) Can regift/resell the card: If you feel the gift card is of no use or there are stores around your area, you can get rid of it by reselling/regifting. Sites like cardpool.com and so on allow users to resell their gift cards online.


3) Do not overspend/underspend: Just because you have gift card that has balance of INR 30,000 does not mean you purchase items that hold no value to you on a day-to-day basis. Best way is to plan what you require and approach retail shops when they have promotions/sales running.

You do not have to go through the question ‘what kind of gift I present him/her?’ anymore. Go to any e-commerce website or retail shop or bank and buy gift cards for your near and dear ones today!

Author Bio:- Neha Sharma is an aspiring student in the field of finance. She spends her free time reviewing the latest apps introduced into the market. Check out her work as she talks about gift card.

Total Views: 21Word Count: 568See All articles From Author

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