7 questions to ask before buying a gift card
Is it a true 'gift card'?
If you're grabbing that card off a rack in a store (or even buying online), read the fine print before you buy. While the cards and packaging look the same, some of those cards are gift cards. Others are reloadable prepaid cards.
With a gift card, your recipient can just slap it down and spend the money. But the reloadable cards often require users to register and share personal information such as Social Security or bank account numbers.
If you're aiming for a gift card, steer clear of the word "reloadable." Instead, be sure the card has the word "gift" on it, says Crystal Wright, spokeswoman for the Network Branded Prepaid Card Association, an industry group.
Editorial Disclaimer: The editorial content is not provided or commissioned by the credit card issuers. Opinions expressed here are author’s alone, not those of the credit card issuers, and have not been reviewed, approved or otherwise endorsed by the credit card issuers.