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The Pros and Cons of Gift Cards
A few months ago we talked about the benefits of businesses using gift cards, but today we’re going to talk about the pros and cons you as a consumer can expect, and potential gift card solutions you can use to curb the cons.
The biggest advantage of gift cards is that you can buy whatever you want with them. However, this particular advantage is something of a double-edged sword, because while you can buy whatever you want with a gift card, you can only buy things from the particular store it’s issued. This could be a huge disadvantage if the person for whom the gift card can’t find anything he or she wants from that store.
Another disadvantage is that gift cards expire. They may also pin the obligations of forcing the recipient to go to the store and pick something out, and/or shell out money of their own. If you give a gift card with a sum of $50 on it, what are the odds that the recipient will find something that rings up to exactly $50? Either he or she will have money left over on the card, or will have to spend more money to make up the difference.
The best gift card solutions are to make sure you read the terms and conditions of the gift card and use it as soon as possible, even if it’s just to buy a gift for someone else. Letting it expire will just be a waste of money.
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Posted on: Monday, February 14th, 2011 at 9:00 am
Posted in: Gift Card Solutions
Tags: business credit card processing, commercial equipment leasing, equipment leasing company, gift card solutions, working capital loan