Comments on: Gift Cards Are Your Money http://blog.canadian-dream-free-at-45.com/2010/01/04/gift-cards-are-your-money/ A Blog About Early Retirement and Happiness Tue, 07 Sep 2010 17:54:28 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Caitlin http://blog.canadian-dream-free-at-45.com/2010/01/04/gift-cards-are-your-money/comment-page-1/#comment-38217 Caitlin Mon, 04 Jan 2010 16:47:17 +0000 http://blog.canadian-dream-free-at-45.com/?p=1272#comment-38217 I do all of those, though I've never run into #4. I guess I've either never had that many separate cards for a single store, or I've never tried to spend them all at once. I think you're right that people can forget to hunt for sales when using gift cards because it's not "their" money. Treat it as your money, because once the gift card is in your hand, it <i>is</i> your money. @Graham thanks for the site suggestion! I haven't had the problem for a few years, but when gift cards were first becoming popular I'd often get them for stores I never shopped at. A site like that would have been handy back then! I do all of those, though I’ve never run into #4. I guess I’ve either never had that many separate cards for a single store, or I’ve never tried to spend them all at once.

I think you’re right that people can forget to hunt for sales when using gift cards because it’s not “their” money. Treat it as your money, because once the gift card is in your hand, it is your money.

@Graham thanks for the site suggestion! I haven’t had the problem for a few years, but when gift cards were first becoming popular I’d often get them for stores I never shopped at. A site like that would have been handy back then!

]]> By: Graham http://blog.canadian-dream-free-at-45.com/2010/01/04/gift-cards-are-your-money/comment-page-1/#comment-38216 Graham Mon, 04 Jan 2010 16:05:05 +0000 http://blog.canadian-dream-free-at-45.com/?p=1272#comment-38216 You're missing an option ;) Sell the gift cards for cash and invest! http://giftah.com/ P.S. - haven't used this service but attended an entrepreneurial conference where the owners talked about their experience at Velocity (UW dormitory incubator). You’re missing an option ;)

Sell the gift cards for cash and invest!
http://giftah.com/

P.S. – haven’t used this service but attended an entrepreneurial conference where the owners talked about their experience at Velocity (UW dormitory incubator).

]]> By: deegee http://blog.canadian-dream-free-at-45.com/2010/01/04/gift-cards-are-your-money/comment-page-1/#comment-38214 deegee Mon, 04 Jan 2010 14:01:06 +0000 http://blog.canadian-dream-free-at-45.com/?p=1272#comment-38214 For single-store gift cards (i.e. Borders book store), it is easy to get a balance update. Also, if you buy more than what you have on the card, when the cashier rings up the purchase, s/he will tell you how much you owe after the card's value becomes exhausted (goes to zero). So if you don't use the card's entire value the first time, it is not a big deal. However, if you use a generic gift card (i.e. Visa), and the purchase exceeds the value on the card, the cashier has to first ring up the exact value of the card to lower the total amount owed for the purchase. Then you pay the difference. Not all cashiers know to do this, as I have found. Furthermore, to make this type of split purchase easier, I always try to use the entire original value (i.e. $25) of the card in a single purchase. This way, I don't have to worry about keeping track of an odd amount remaining on the card for a subsequent purchase. From what I know, the cashier can't give you a balance update on a generic card; that burden falls on the card holder. I find gift cards to be a pain in the butt. I still have two $5 cards for a store I rarely go to since I got them last June. For single-store gift cards (i.e. Borders book store), it is easy to get a balance update. Also, if you buy more than what you have on the card, when the cashier rings up the purchase, s/he will tell you how much you owe after the card’s value becomes exhausted (goes to zero). So if you don’t use the card’s entire value the first time, it is not a big deal.

However, if you use a generic gift card (i.e. Visa), and the purchase exceeds the value on the card, the cashier has to first ring up the exact value of the card to lower the total amount owed for the purchase. Then you pay the difference. Not all cashiers know to do this, as I have found.

Furthermore, to make this type of split purchase easier, I always try to use the entire original value (i.e. $25) of the card in a single purchase. This way, I don’t have to worry about keeping track of an odd amount remaining on the card for a subsequent purchase. From what I know, the cashier can’t give you a balance update on a generic card; that burden falls on the card holder.

I find gift cards to be a pain in the butt. I still have two $5 cards for a store I rarely go to since I got them last June.

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