Gift Credit Card Shopping
http://creditfederal.com/article/articles/389/1/Gift-Credit-Card-Shopping
By CreditFederal.com - A good or bad credit personal loan, auto and mortgage financing, and credit card resource.
Published on 10/29/2007
Tips for Choosing the Best Gift Credit Cards for Holiday Shopping.
Gift Credit Cards
Whether choosing a gift credit card for a friend or for your own holiday shopping, here are things you should consider to find the best deal:
Compare rebates and savings. Most store credit cards only offer a 1 to 2% savings on the cost of purchases, which may not offset finance charges. Some cards will offer free gifts or other special rewards.
Buy gift cards that can be used both in the store and online. Many egift cards can only be used for online purchases, and then merchandise needs to be returned to a non-store location.
Here are some gift credit card offers to consider:
Bed Bath & Beyond (TM): Offers the Upromise college savings plan, so when you make purchases 1% is given to your child's Upromise college savings account. Upromise doesn't offer such a great reward as an incentive to shop here, but one benefit of shopping at Bed Bath & Beyond is that anything you buy online can be returned at anytime either in the store or by mail.
Best Buy (TM): The interest rate for Best Buy's store credit card is determined by after a review of your credit history and application. It works like a regular MasterCard, requiring the holder to pay a minimum amount monthly. Like Circuit City, Best Buy offers a Rewards Program, but only credits you 4% of your purchases instead of the 5% offered by Circuit City. Gift card purchases online come with free shipping.
Circuit City (TM): Their Rewards Program allows you to get back 5% of your purchases in the form of a coupon that can be used online or in the store. This can be a great benefit if you buy high cost, big ticket items. Gift cards purchased either online or in the store may be used online or in the store, and there's free shipping on gift cards.
Cost Plus World Market (TM): No shipping charge for gift cards, but cards purchased online must be used for online purchases. There are big cons with the online shopping: shipping costs can run more than 10% of the purchase price for a standard delivery of 5-7 business days. The World Market Credit Card offers perks such as 3-6 month free financing, and you can earn Rewards Coupons for each dollar you spend.
Crate & Barrel (TM): Free shipping on standard delivery gift cards. For 2 business day rushes, shipping charge is only $6. The low shipping charge is a great option for a rush order gift. Unfortunately, housewares and furniture items can cost 10-25% of the purchase price. Any item purchased online can be returned by mail or in the store. 90-day return policy for credit or refund, but must have valid receipt, otherwise you will get a store credit only.
Ethan Allen (TM): 3-6 month free financing term. This is a good plan for new homeowners, but at the end of that period you will need to pay in full or be subject to accrual of 23-27% APR interest. Don't finance here unless you can pay at the end of your free financing period.
Home Depot (TM): This store credit card has no annual fee, and even offers perks like discounts on travel and store products. Points accumulate to earn discounts and free gifts. No interest for 6 months on purchases of $299 or more.
Lowe's (TM): Gift cards can be used both in the stores and online, and volume discounts are offered.
Menards (TM): Low 2% Rebates on Menards purchases, but you get a $10 in-store certificate when you make your first $100 purchase on your Menards card. No annual fee. Returns for items purchased online through a gift card may be returned at the store.
Pier 1 Imports (TM): Quantity shoppers will love the rewards that come with shopping here. Accumulating points gets you special cardholder discount days, and becoming a cardholder gets you 10% off your initial purchase(s).
Room & Board (TM): On unlimited purchases of furniture a flat rate shipping fee ranging from $69-199, on small items $15 flat fee on unlimited items, on larger accessories and small furniture: $25-79 flat rate. Good shipping rates.
Rooms to Go (TM): Their store credit card is currently offering no payment, no interest payment and no down payment until January 2009, and many items come with free UPS ground shipping. These are great benefits as the holiday season draws near.
Target (TM): 2 Kinds of gift cards. The ecard can only be used for online purchases. The store-bought gift cards can also be used online. It pays to buy gift cards in the store. Save 10% when you open your Target credit card account. Another great perk of the Target credit card: get 10% off on pharmacy purchases.
Wal-Mart (TM): Free shipping on gift returns, but you must return your items within 90 days to get a refund. One benefit of buying online is that you can have free shipping on items that can be shipped to a nearby Wal-mart. Thousands of items can be shipped directly to their stores. You will get an email telling you that your items have arrived and are ready for pick-up within an average of 7-10 days.
Compare rebates and savings. Most store credit cards only offer a 1 to 2% savings on the cost of purchases, which may not offset finance charges. Some cards will offer free gifts or other special rewards.
Buy gift cards that can be used both in the store and online. Many egift cards can only be used for online purchases, and then merchandise needs to be returned to a non-store location.
Here are some gift credit card offers to consider:
Bed Bath & Beyond (TM): Offers the Upromise college savings plan, so when you make purchases 1% is given to your child's Upromise college savings account. Upromise doesn't offer such a great reward as an incentive to shop here, but one benefit of shopping at Bed Bath & Beyond is that anything you buy online can be returned at anytime either in the store or by mail.
Best Buy (TM): The interest rate for Best Buy's store credit card is determined by after a review of your credit history and application. It works like a regular MasterCard, requiring the holder to pay a minimum amount monthly. Like Circuit City, Best Buy offers a Rewards Program, but only credits you 4% of your purchases instead of the 5% offered by Circuit City. Gift card purchases online come with free shipping.
Circuit City (TM): Their Rewards Program allows you to get back 5% of your purchases in the form of a coupon that can be used online or in the store. This can be a great benefit if you buy high cost, big ticket items. Gift cards purchased either online or in the store may be used online or in the store, and there's free shipping on gift cards.
Cost Plus World Market (TM): No shipping charge for gift cards, but cards purchased online must be used for online purchases. There are big cons with the online shopping: shipping costs can run more than 10% of the purchase price for a standard delivery of 5-7 business days. The World Market Credit Card offers perks such as 3-6 month free financing, and you can earn Rewards Coupons for each dollar you spend.
Crate & Barrel (TM): Free shipping on standard delivery gift cards. For 2 business day rushes, shipping charge is only $6. The low shipping charge is a great option for a rush order gift. Unfortunately, housewares and furniture items can cost 10-25% of the purchase price. Any item purchased online can be returned by mail or in the store. 90-day return policy for credit or refund, but must have valid receipt, otherwise you will get a store credit only.
Ethan Allen (TM): 3-6 month free financing term. This is a good plan for new homeowners, but at the end of that period you will need to pay in full or be subject to accrual of 23-27% APR interest. Don't finance here unless you can pay at the end of your free financing period.
Home Depot (TM): This store credit card has no annual fee, and even offers perks like discounts on travel and store products. Points accumulate to earn discounts and free gifts. No interest for 6 months on purchases of $299 or more.
Lowe's (TM): Gift cards can be used both in the stores and online, and volume discounts are offered.
Menards (TM): Low 2% Rebates on Menards purchases, but you get a $10 in-store certificate when you make your first $100 purchase on your Menards card. No annual fee. Returns for items purchased online through a gift card may be returned at the store.
Pier 1 Imports (TM): Quantity shoppers will love the rewards that come with shopping here. Accumulating points gets you special cardholder discount days, and becoming a cardholder gets you 10% off your initial purchase(s).
Room & Board (TM): On unlimited purchases of furniture a flat rate shipping fee ranging from $69-199, on small items $15 flat fee on unlimited items, on larger accessories and small furniture: $25-79 flat rate. Good shipping rates.
Rooms to Go (TM): Their store credit card is currently offering no payment, no interest payment and no down payment until January 2009, and many items come with free UPS ground shipping. These are great benefits as the holiday season draws near.
Target (TM): 2 Kinds of gift cards. The ecard can only be used for online purchases. The store-bought gift cards can also be used online. It pays to buy gift cards in the store. Save 10% when you open your Target credit card account. Another great perk of the Target credit card: get 10% off on pharmacy purchases.
Wal-Mart (TM): Free shipping on gift returns, but you must return your items within 90 days to get a refund. One benefit of buying online is that you can have free shipping on items that can be shipped to a nearby Wal-mart. Thousands of items can be shipped directly to their stores. You will get an email telling you that your items have arrived and are ready for pick-up within an average of 7-10 days.