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Gift Cards
During this past Christmas season consumers were
offered a wide variety of gift cards to ease their Christmas shopping,
although the availability and use of the cards is not limited to the
Christmas season. Gift cards are prepaid electronic plastic cards that
consumers use to select their own presents. Most can be ordered online. CardTrak has identified Wal-Mart as a leading issuer. Its gift cards
are available in denominations ranging from $20 to $1,000, and consumers
can have the cards reloaded as needed. Sears’ gift cards are available
in denominations of $10 to $100. Sears will send the card to the
recipient by mail in a special package with a personalized message from
the donor. There is no charge for the service if ordered from the web
site: www.sears.com. Circuit City and Zales jewelry offer gift cards in
denominations up to $10,000. Nordstrom makes life simple for consumers.
They can purchase gift cards in denominations up to $1,000 at any
on-line cash register in their stores, while cards for larger amounts
can be purchased in person at any customer service department. Gift
cards are not the exclusive domain of retailers. KeyBank offers a
prepaid MasterCard, SwiftGiftCard, in denominations of $25 to $100
embossed with the recipient’s name. There is a handling fee ranging
from $6.95 to $8.95. The card cannot be used in ATMs, and it expires in
three months.
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