Young Money With Tracey Bissett

EP051 Gift and Prepaid Cards - Consumer Beware

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Everyone loves a gift card. When bought as a gift or delivered as a prize, gift cards make us happy. Sadly, 25% of gift cards are never used and 32% of those are simply lost. Some might say gift cards are impersonal, but for others, they are a go-to gift. For those who do love gift cards, they’re a fun way to allow someone to treat themselves.  Today, I’m sharing my top 3 tips for buying and receiving gift and prepaid cards. I discuss the things to watch out for and how to get the most out of the money on your gift cards. I also explain the various different types of cards available and how looking after your gift cards is the same as looking after your cash.    “Treat a gift card like cash. If it’s lost, anyone can go and spend it.” - Tracey Bissett    This Week on Young Money:  What is a gift card? The pros and cons of buying gift cards.  How gift cards work.  When gift cards could expire and things to look out for.  Different types of gift card.  Possible fees and rules.  The ins and outs