Gift Credit Cards for all occasions

Gift credit cards continue to become more and more popular.  Chances are you have either given or received one sometime over the last year.  They make great last minute gifts and are the perfect choice for that person who has everything.  Studies show that more than half of people surveyed say they would like to receive a gift credit card as a present.  When buying a gift credit card there will be a few things it pays to think about. 

While most retailer gift cards do not charge a fee on top of the value of the card most credit card companies do.  Fees for gift cards from American Express, Discover, Visa, and MasterCard will each have a fee. Many people think the convenience of being able to use the card wherever you want is well worth the fee which is usually minimal.   

Another thing gift credit cards have the retailer gift cards don’t is an expiration date.  These cards will usually expire a year after they are issued.  They do not really expire the way many people think.  After this date a small service fee is charged against the balance of the card monthly until there is no longer a balance.  When buying a card it pays to look at the expiration date and terms of service. The terms of service are typically printed onto a separate piece of paper that comes with the card. 

If you receive a gift credit card it is a good idea to register it right away.  This will allow you to check your balance online or from a toll free phone number.  It can also make it possible to get the card replaced if it should get lost or stolen.  Usually the issuer will charge a small fee for this service.