People say they’d rather receive gift cards than any other token of appreciation. If your company doles them out to employees, here’s what you need to know.
Despite their much-publicized popularity, there is a swirl of questions around gift cards. Fortunately, the Bankrate.com “2008 Gift Card Study” breaks down this trend, by the numbers.
55% of consumers would rather receive a gift card than any other gift
Visa: Most after one year, but depends based on the issuing bank
Mastercard: 24 months
American Express: None, but there is a $2 monthly service fee after 12 months
Discover: Like AMEX, except you’ll pay $2.50 a month after a year
Average fee to buy
American Express and Discover: $3.95/card
Visa and Mastercard: $4.95/card
Ability to be used online
All card issuers surveyed, except five: CVS, Walgreens, Home Depot, Marshalls and TJ Maxx.
Offer electronic gift cards?
13 of the 25 card issuers surveyed do.