Transcript for How to save money with gift cards
- But it is the season for gift cards, spending on them is expected to top $28 billion this year. Becky Worley is here with ways to save them buying them. Good morning, Beck.
- Good morning, Robin. From Michael in space to all of us gift givers getting a little nervous too, maybe panicky because we don't know what to get our friends and family, or maybe you can't find the gift you need. Enter the gift card. And here's the secret, you don't have to pay face value. There are ways to get a discount. You shop, you search, you still can't find the right present. So now is the time to buy a gift card gift.
- Gift cards for the 15th consecutive year in a row are the most popular gift to receive. So that's the number one thing that people ask for.
BECKY WORLEY: And good news, you don't have to pay full value if you shop smart. In many cases, gift cards can be purchased at a discount between 2% and 20%. The best deals usually come from big retailers, often in the form of something called a GOGO, give one, get one. Some examples live now. At Amazon, for first time gift card buyers, buy a $50 card get an additional $10 credit free. At Barnes Noble, buy one for $50, you get a free $5 gift card.
- Also if you are using a cashback or a rewards credit card, then this time of year they often offer about 20% off when you are redeeming your points for a gift card.
BECKY WORLEY: Then there are the straight discounts. At Costco, you can purchase $100 Roblox gift card for $89. And over at Sam's Club, a $50 Build-A-Bear Workshop card for just $37.50. Another way to save money on gift cards is to buy them from a reseller who discounts the original price of the card. Three of the major sites are Raise, CardCash, and Gift Deals. I bought three different gift cards from three of the most popular gift card resellers. The question, will they all work? First up, Cabela's. $25. Winner. Home Depot from Gift Deals worked. Victoria's Secret, yes. OK.
Now, you should check the balance of any gift card as soon as you receive it. That's true for an E-gift card or an actual plastic card. And encourage the person you give the card to to use it as soon as possible. Robin, that's the best way to protect your purchase.
- And yes. Because so many times, you give the gift card and they don't use it. And it's like come on. Yeah, not that I have a drawer of gift cards. Not me. All right, Becky. Thanks so much.
This transcript has been automatically generated and may not be 100% accurate.