Costco Anywhere Visa Card By Citi: Best For Gas Stations
The Costco Anywhere Visa® Card by Citi doesnt charge an annual fee, yet youll earn 4 percent back on the first $7,000 you spend on eligible gas purchases each year , 3 percent back on restaurants and eligible travel purchases, 2 percent back at Costco and on Costco.com and 1 percent back on other purchases. You do need to be a paid Costco member to qualify.
Why this card is ideal for gift cards: This card lets you earn 4 percent back on gift cards purchased at gas stations, up to annual limits. Costco.com and Costco stores also offer a broad selection of gift cards you could earn 2 percent back on, including gift cards offered at a discounted rate.
Who Makes The Gift Card Rules
In 2009, Congress passed a federal law called the Credit CARD Act of 2009. With its passage, merchants could no longer put expiration dates on gift cards shorter than five years nor could they charge gift card fees for non-use in less than a year. I looked through this Act and could not find anything regarding the legality of buying a gift card with a gift card. So next I turned to State gift card laws and again could not find any reference to this type of transaction.
Since there is no federal or state law dictating whether or not you can buy a gift card with a gift card, companies get to decide if they will allow consumers to use gift cards in their stores to buy other gift cardsthat includes buying the same brand card or a third-party card. Keep in mind, however, that Visa gift cards are different. While you may not be able to use a stores gift card to buy another gift card, you can probably still use a Visa gift card to buy a branded gift card. Ill explain more below.
How To Check Your Visa Gift Card Balance
The only way to check the remaining balance of your Visa gift card is to visit the website of the card issuer or call the toll-free service number on the backside of the card.
So there you go, youve learned how to use a Visa gift card online and how to solve nearly all the issues youll run into when trying to use the card to make purchases online.
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Can You Buy Gift Cards Using A Gift Card
Whether you can purchase gift cards with a gift card largely depends on the specific store that you are hoping to purchase gift cards at. The majority of merchants throughout the country will not allow you to do this because of the possibility for fraud to occur.
In the past, customers have typically used gift cards to purchase other gift cards during the holidays when they receive cards for places at which they dont shop. Having the opportunity to exchange a gift card for one you would rather use seems like a good idea, but again, the chance of finding a vendor that will do this is challenging
In most cases, the only way you can purchase a gift card with a gift card is if you use a Visa gift card to purchase a store gift card. Some vendors will allow this transaction because it is very similar to credit card transactions, while other vendors will only allow the purchase of gift cards using cash or debit transactions.
If you have a gift card that you wish to exchange or sell for cash value, you might be able to trade, sell, or exchange the gift card using a gift card exchange website. However, you should be cautious in this endeavor and be sure that you are using a reputable site.
They Offer Convenience But Can Come With Hidden Fees And End In Wasted Funds
Almost all retailers offer consumers gift cards as a way to shop or give money to friends, both in the online and brick-and-mortar variety. There are two types of gift cardsphysical and digital and each comes with a wide range of features and benefits. If youre interested in purchasing gift cards for others during the holiday season, or you want to buy them for yourself, it helps to understand how they compare with other payment methods.
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Can You Use A Visa Gift Card For Online Purchases
You might be wondering and have this common question: whether you can make use of a Visa gift card for your online purchases, here we are going to tell you.
So, the answer is yes, you can easily use this card to make and process all kinds and types of online purchases at your end. Furthermore, this card is packed and injected with a Visa logo and you can freely use this card to millions and trillions number of places.
This card is accepted everywhere and you can avail of it for your offline and online purchases.
When you make a purchase, you just have to handover this card to the specific merchant, he enters this card into the machines, then he is going to give you the receipt of your purchase.
The best part of this Visa gift card is that you can use to make your Amazon online purchases.
Fraudulent Gift Card Purchases And Scams
In October 2015, new rules were enacted with the EMV chip card transition. The new form of payment via EMV chip cards safeguarded consumers by putting more securities on credit and debit card purchases through the use of chip-enabled technology to help alleviate the results of many common credit card frauds.
The rules state that businesses that do not upgrade their transaction technology to feature chip-enabled payments will be held liable for fraudulent charges made on their machines. So naturally, businesses all over the country were purchasing new transaction machines that incorporated these regulations making it more challenging for fraudsters to steal money by purchasing gift cards using stolen credit cards.
According to Digital Commerce 360, gift card fraud is growing and the scams are becoming more difficult to fight. For years, fraudsters have been using the gift card method to quickly turn a stolen credit card into hard cash. They do this by immediately purchasing large amounts of gift cards using the stolen credit card, then immediately go to a gift card exchange and get cash in hand for the gift cards they bought using a stolen credit card.
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Do I Pay Tax On A Gift Card For A Specific Good Or Service
Yes. Usually, if you buy a gift card for a haircut, massage, or any other specific good/service, the business will account for the tax on the gift card. So, if you buy your mom a gift card for a manicure, you will likely be charged the tax for that service when you buy the gift card.
Simply put, the tax will be charged at some point during the transaction because businesses are required to charge it.
Does Purchasing A Gift Card Count As A Cash Advance
You should also be aware that some credit cards threaten to treat gift card purchases as a cash advance. In this case, you would be charged a cash advance fee and a higher interest rate, to boot.
Generally speaking, gift cards code as a cash advance when you buy them directly from a financial institution, or when you buy a prepaid card instead of a gift card. However, you can get around this by buying gift cards within your normal shopping, such as in your weekly grocery haul at the supermarket.
You can also get around dealing with surprise cash advance fees by asking retailers if their gift cards code as a cash advance or purchase before you buy, or you can call your card issuer and ask them to turn off cash advances on your card altogether.
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Want To Get A Visa Gift Card
A smart gift anyone can appreciate.
The Visa Gift card is an ideal choice for birthdays, holidays, weddings, and suits all your gift-giving needs. It’s also perfect for people of all ages. You decide how much money to give they decide where to spend it.
You will receive important information regarding the Visa Gift card such as how to activate and use the card. This information should be given to the recipient of the card.
Should You Purchase Gift Cards With A Credit Card
Theres nothing wrong with paying for gift cards with a credit card, but you should know there are some major pros and cons in doing so.
Advantages include the potential for rewards on your spending, although how much youll earn depends on the cash back credit card or rewards credit card you have. Its also common to find ways to buy gift cards at a discount so you can save money on a large purchase. For example, many people buy Disney gift cards at Target with the Target Redcard in order to secure 5 percent off. That may not sound like a big deal, but saving 5 percent off a Disney vacation that costs thousands can be worth the extra trouble.
As a side note, buying gift cards from small businesses can also be a helpful move if you want them to survive the economic impact of COVID-19. By buying gift cards now, you can send businesses some much-needed cash and wait to redeem your gift card for goods or services at a later date.
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How Long Should You Hold Onto A Gift Card
The longer you hold onto a gift card, the more likely you are to let it go to waste via losing the card, forgetting you have it or allowing the cards value to be depleted from non-use. Although Ive heard warnings such as use your gift cards within three months and a gift card older than 2 months will never get used, I think you should assess a gift cards value immediately.
As a gift card lover, I rarely receive a gift card I dont want. Some gift cards take a little more effort to use than others, but I typically find a way to get it done. There are times, however, when the total cost of using a gift card outweighs the benefit. Here are some examples of reasons I find some gift cards difficult to use:
Travel Required. A gift card to a store or restaurant that isnt located in my town would be hard for me to use because Id have to spend time and gas to go to the location in order to redeem the gift card.
Shipping Charges. Though redeeming gift cards online is convenient, I sometimes have a hard time using a gift card online if the cost of shipping and handling is significant. Its not much fun to use a $25 gift card is half of that money goes towards delivery.
Higher Priced Merchandise. If the value of the gift card is lower than most merchandise sold in the store or wouldnt cover a single meal at a restaurant, then the gift card is more like a coupon. I may not want to spend my own money just to receive a discount off of the total bill.
How Do You Activate A Visa Gift Card Online
There is a specific process to activate this Visa gift card online, below you can see the details and if you have any questions on this activation process, then you can ask and convey to us:
First of all, you have to visit and access the respective activation link that is marked and listed right there on the sticker part of your Visa gift card. This link is present on the front side of your card.
Some people prefer activating their card through phone calls and others opt for this online method. At times, this activation link is present on the backside, and sometimes, it is present on the front side of this card.
With the help of this link, you can complete the registration procedure of your card as well.
If you fail to see a sticker on your Visa gift card, then you can take help from the website that is marked and provided on the backside section of your card.
This website tells you who is the issuing vendor and by checking out that site, you can get the activation link from there.
When you get the activation link, then you have to open it and enter the correct and needed information so that this card can get activated as soon as possible.
This is an important step to register and activate your card. Upon activating this card, you can make purchases and even allowed to make in-person purchases.
This is a legal need and requirement that you have to fill all of these sections.
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Redeem A Gift Card With Your Iphone Ipad Ipod Touch
Can You Earn Credit Card Rewards By Buying Gift Cards
Depending on your creditor you may, or may not be able to earn rewards with gift card purchases. If your creditor allows it, building points and earning rewards by buying gift cards can be a clever financial strategy. While some credit cards may allow you to earn points by purchasing gift cards, others may not.
Furthermore, some credit cards that do offer rewards for gift card purchases may restrict what types of rewards you can earn from the gift card purchase. Some may only allow you to earn cash back, while others may allow you to earn flexible rewards or points.
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Where And How Can I Use My Air Canada Gift Card
The Air Canada Gift Card is easy to use: simply provide your gift card number and security code at time of payment on either the Canadian or U.S. edition of aircanada.com, or when you call Air Canada Reservations* at 1-888-247-2262 . You can also use your Air Canada Gift Card:
- at an Air Canada airport counter in Canada**
You can check the balance Opens in New Window of your gift card online or by calling 1-855-281-1761
The One Big Catch: Insufficient Funds
This is the most common issue people have when using Visa gift cards online. So whats the problem?
Well, using a Visa gift card online is a little different than using that same gift card in a store.
When you go to the store with a $25 Visa gift card and buy something thats $30, the cashier would use the Visa gift card and then ask for a second form of payment for the remaining $5. This is known as a Split Tender Transaction.
Unfortunately, almost no online merchants are set up to accept Split Tender Transactions. This means if you attempt to buy something that exceeds the value on your Visa gift card youll get an insufficient funds error.
There are some hacky ways around this that allow you to use a Visa gift card for partial payment.
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Where To Buy Gift Cards
Before you buy a gift card, ask if there are any restrictions on what you can buy.
Gift cards for various retailers are available:
- at Canada Post outlets
When you buy a gift card, make sure the retailer activates the card.
When you buy a gift card, you dont pay tax on the gift card. The retailer will charge tax when you buy a taxable item with the gift card. For example, you pay tax on a sweater you buy with a gift card, the same as you would when you pay with cash or credit.
Is Buying A Gift Card With A Credit Card Right For You
Buying a gift card with a credit card is pretty easy, but you will want to check off this list before you do so. This will assist you in determining if it is the best transaction for you.
- Does the store or website allow you to purchase a gift card with credit?
- Does your credit card allow you to earn rewards with gift-card purchases?
- Does your credit card treat gift card purchases as cash advances?
- Are there any fees or additional charges to your credit card for gift card purchases?
- Alternatively, have you read the fine print on the gift card to ensure there are no fees or expiration dates that would reduce the value of your purchase?
- Have you met your limit with your credit card, meaning you should not make any more purchases on credit?
- Are you avoiding scams by making a gift card purchase through a reputable site or store?
- Have you looked into the fine print to make sure you know where and how the card can be used?
If you cant purchase a gift card with your credit card for the above reasons, you may also consider looking into purchasing a reputable gift card with cash or a debit card.
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