credit cards

7 ways to make the most of gift cards

Compare Gift Cards » Make The Most Of Gift Cards

Don't buy just because you have a gift card
Don't buy just because you have a gift card

It seems contradictory: Yes, you want to use that gift card quickly. However, you don't want to buy just to buy.

If you really want to make a smart purchase, "wait for something that you actually really need or want," says Mendelsohn.

Still stuck with an aging gift card and don't know what to buy? Or maybe the card isn't to a store you love?

Either regift the card or use it to buy a present for someone else, says Mendelsohn. And take the money you free up and treat yourself.

"It's a great way to not spend your own money," she says.

They also make a great tool to save money toward a big purchase, says Mendelsohn, whose family used gift cards to pay for two computers.

"Particularly with kids," it's a great way to impart the lesson of saving for a goal, she says. "Even though it's a gift card, it really teaches them -- you can accumulate and get something really meaningful."


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.

Show Bankrate's community sharing policy
          Connect with us
Product Rate Change Last week
Balance Transfer Cards 16.22% --0.00 16.22%
Cash Back Cards 16.49%  0.07 16.42%
Low Interest Cards 11.44%  0.09 11.35%
Credit cards on a table

Get advice for managing credit cards, building your credit history and improving your credit score. Delivered weekly.


Credit Card Blog

Mitch Strohm

Will card fraud increase at the pump?

Fraudsters may be taking advantage of the lack of security at pay-at-the-pump card readers.  ... Read more

Partner Center

Connect with us