There are a few alternatives to cash as a medium of exchange and gift cards are one of them.
With so many benefits attached to a gift card, more people should explore it’s use.
In this article, you will find the best times to use a gift card instead of cash.
1. When you wish to access discounts:
Many e-commerce stores offer a lower price on products when you purchase items with their gift cards. Stores like Amazon, Sephora, eBay and even ASOS, have some gift card-specific discounts. You cannot access these with outright cash payment.
Especially during the Yuletide season, the use of gift cards grants the user a discount on most items. Amazon prime offers free shipping in many cases. In these cases, buying a gift card ahead of future use helps you save money and grants you access to discounts. If you are big on accessing these discounts, gift cards are a better alternative to cash
2. When you wish to give a memorable gift without buying anything specific:
For many people, the memories created by cash gifts are not as long-lasting as tangible gifts. The gift card falls into the category of gifts and can double as a medium of exchange if the person wishes to use them. If you want to buy a gift for someone without getting anything specific, you should use a gift card instead of cash. Gift cards will help you deliver on a promise of giving a gift while allowing the person the choice to buy whatever they need. The discounts, and the option to use it or sell the gift card, make it a better alternative to cash.
3. When you are trying not to exceed your credit card limit:
Life happens, and sometimes we are backed against the wall. Using a gift card rather than payment with a credit card is the best option when one has reached their credit card limit and is trying not to max it out. We all know that maxing out one’s credit limit can incur additional charges and lower your overall credit score. In this case, using a gift card rather than a credit card payment is wiser.
4. When your desired item is not available in offline stores:
Sometimes, physical stores do not provide us with the desired item. This scarcity is widespread among gamers and users of STEAM. In these cases, using a gift card will allow you to access these items online and even save you money. You can easily buy a gift card and access a wider variety of things online.
5. When you wish to beat the exchange rate:
In a country like Nigeria, where the black market exchange rate usually determines access to international currency, using a gift card is the way to go. Gift cards are mostly sold using the official rates rather than the black market rate, and give importers a better price overall, on items bought. For importation newbies who wish to beat the exchange rate, it is better to purchase gift cards in bulk from platforms like Cardtonic.
Having gift cards close by is a good idea for the reasons above. And mainly because if you do not need them anymore, you can quickly sell them on a platform like Cardtonic at an excellent gift card rate.
If you wish to sell unused gift cards or are a business with bulk needs, you will find the platform easy to use and with reasonable exchange rates.