5 Reasons To Buy Gift Cards in December Besides Giving Them Away
Written by
Cynthia Measom
Edited by
Amber Barkley
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December is about gift giving, and amid the hustle and bustle, gift cards are an easy, last-minute solution. But buying these pieces of plastic doesn’t have to be about handing them over at a holiday party or family gift exchange. Instead, they can be used as a strategic financial tool.
Check out these smart reasons for purchasing gift cards for yourself instead of giving them away.
Take Advantage of Available Bonus Promotions
Many retailers and restaurants offer bonus promotions on gift cards in December, which makes it a prime time to stock up. For example, a $100 gift card might come with a $10 bonus card for future use. These deals give shoppers extra value for the same amount of money, which can help save money on purchases in the coming year.
However, when using a bonus gift card, it’s important to try to stay within its value to avoid overspending on unnecessary items.
In Preparation for After-Holiday Sales
After-holiday sales can help shoppers save big due to retailers clearing out inventory, which can result in huge price drops. Having gift cards on hand allows shoppers to take advantage of these deals without pulling funds from their regular budget.
Also, “National Use Your Gift Card Day” is held the third Saturday of January each year. It’s a day that gives shoppers the opportunity to get more for their gift cards by using them at retailers offering special deals.
To Utilize Credit Cards Rewards Points
Some credit card issuers offer special holiday deals for cardholders who redeem their rewards points for gift cards, allowing them to stretch their points further. For example, a $25 gift card that might normally cost 2,500 points might cost 2,250 points during the holidays.
However, compare the redemption value to other options for redeeming your credit card rewards points, because there may be more lucrative options.
To Help With Budgeting Goals in the New Year
Buying gift cards for yourself can be an effective budgeting tool, because it can keep spending in check. For example, if you shop at Target for specific household items but always end up putting other items in your cart, buy gift cards in a reasonable amount to cover what you need to buy. Knowing you only have the amount on the gift card to spend can keep you from being tempted to buy impulse items.
To Help With Unplanned Expenses
Check retailers for sales on gift cards and put them away for unplanned expenses during the holidays or within the next year. For example, Sam’s Club is offering a $100 gift card to Landry’s and its family of restaurants for $79.98, which could come in handy for an impromptu holiday meal. Also at Sam’s Club, you can get four $25 Domino’s Pizza gift cards for $75 — a $25 savings.
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