Survey: General Purpose Gift Cards Vs Specific Gift Cards
It's not even Thanksgiving yet, but a lot of people are already getting a head start on their holiday shopping. And if you're looking for a great idea, it's hard to go wrong with a gift card.
However, some of those cards have added fees.
For the past five years, gift cards have been the number one item to give, but some people don't realize that you could be paying more than you bargained for.
BANKRATE.COM compared general purpose gift cards with cards from different retailers. They found that general purpose cards, which you can use anywhere, are the ones that usually have the fees.
The survey also found that only one in nine of fifty-five brand-specific cards had fees attached.
"Staples, Toys 'R Us and Chevron/Texaco and they had a purchase fee. We also found that some others had a purchase fee depending on where you bought them. So if you bought it online, you may have to pay a fee. If you get it customized, then you would probably pay a fee as well," said Janna Herron, the Bankrate.com Credit Card Analyst.
According to the survey, the majority of people prefer general purpose cards since you can use them anywhere. A new trend in shopping, gift cards are so popular this year that many retailers are giving you choices on how to send them.
You can either do it by e-mail, on your cell phone or you can even tweet a gift card.