During the holiday season or any gift giving season, many people like to give gift cards. If you don’t know which store a person likes to shop at you can purchase an American Express, a Discover, a MasterCard, or a Visa gift card. These can be used at any store that accepts the regular credit cards.
It works just like a debit card; each time you buy something it takes the total off of the remaining balance.
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Features of American Express Gift Card
Purchase your gift card online or in store
Denominations in $25, $50, $100, $500, up to $3000
Personalize a gift card by using the name of the Recipient
If stolen or lost, the card can be replaced |
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Another unique feature let’s you get special savings and discounts when you use the American Express gift card online through their partner merchants. Most of these are only valid if you buy online.
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Fees
Gift cards cost $3.95 plus amount of the card
Monthly fee of $2.00 after twelve months |
One of the biggest negatives of this card is the fees. Regular store gift cards don’t have a monthly fee just for having it. Many States have legislation that prevents department and retail establishments from offering gift cards that have any kind of fee for having the card, but the major credit card issuers are able to circumvent this.
This kind of card also comes with many restrictions that I thought you should be aware of. These restrictions won’t stop you from spending your gift card at any retail outlet though.
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Restrictions
Can’t be used at Casinos
Doesn’t allow ATM access
Only useable in the United States
Can’t be used for recurring billing charges
Can’t be used on Cruises |
The American Express gift card is a good present to get someone if you don’t know where they like to shop, but I don’t recommend getting this over a store gift card though.
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