What are the pros and cons of gift cards?

What are the pros and cons of gift cards?

Want to find out the pros and cons of gift cards? Keep reading.

 

Most retailers offer consumers gift cards as a means of shopping or giving money to loved ones, both in the online and offline settings. There are two forms of gift cards which are physical gift cards and digital gift cards (also known as e-gift cards). Each of them has different features and benefits.

 

If you want to buy gift cards for others during the holidays or you want to use them by yourself, it’s important to understand their pros and cons and how they compare with other forms of payments.

 

Quick Review

Here are what we will consider in this article:

  • How gift cards work
  • Physical gift cards vs. digital gift cards
  • Pros of gift cards
  • Cons of gift cards
  • How to redeem your gift cards to Naira and Cedis

 

Read Also:  How Can I Sell Gift Cards Online?

 

How Gift Cards Work

A gift card is a payment method that you can use to buy at retail stores, restaurants, gas stations, and other locations. Simply load money onto the card and then spend it at accepted locations.

 

Physical Gift Cards Vs. Digital Gift Cards

Physical gift cards are plastic cards while digital gift cards have a unique gift code number that can be used to redeem at online retailers while making purchases. Physical gift cards are the most popular form of gift cards, but this may change soon.

 

Amazon, Target, and Walmart allow consumers to buy physical cards and to also load digital or online accounts. Restaurants such as Chipotle, Starbucks, and Chili’s offer customers physical and digital gift cards. They make it convenient to pay by using an app or in-establishment card reader to hasten the checkout process.

 

Pros and Cons of Gift Cards

Pros

Gift cards have some advantages such as the following:

  • They are appropriate gifts for the holidays and other special occasions.
  • Gift cards are a good form of payment for those that don’t want to pay with cash or credit card.
  • They help to control spending.
  • They are also easy and convenient to use.
  • If you don’t know what to buy for someone, gift cards are ideal since they allow the recipient to purchase what they want with the gift card.

 

Cons

Despite their advantages, gift cards also have some disadvantages such as:

  • If you don’t use the amount that is left on the gift card after purchases, the money may end up being wasted.
  • You may need to purchase or reload fees before you can add money.
  • If you fail to use your card, you may incur an inactivity fee.
  • Losing your gift card can be a hassle, especially if you haven’t registered it or if you don’t have the gift card number.

 

Read Also:  How To Redeem Gift Cards To Naira

 

Redeem Your Gift Cards to Naira and Cedis with Nosh

Nosh offers the best and most reliable platform to redeem your gift cards to Naira and Cedis at the highest rate. The platform is the go-to site for selling gift cards at the best rates. It is easy to use Nosh to redeem your gift cards. Simply send your gift card to them via their site and your money will be deposited in your account within minutes.

 

Get started by downloading the Nosh app on Android or iOS.