Giving a gift card is a wonderful gesture, particularly if you are looking to reward employees. The card is universally accepted at millions of retail outlets, eateries, and the like throughout the U.S. It comes in a wide range of denominations, so you can differentiate among your staff and reward those who work the hardest without appearing blatantly favoritist.
A gift card is especially useful if you’re unsure as to the tastes of the recipients. The card is accepted practically everywhere, and (in most situations) the balance can be replaced should the card get lost or stolen. In addition, the funds on the Amex gift card will never expire, so there’s no pressure on the recipient to use up the balance before a certain date.
Most gift cards come packaged handsomely, and you can personalize a message for your recipients. Conditions and terms of use can be complicated, however, especially if you’re sending the cards out of country, or if you’re giving the cards as part of a larger bonus package. Talk to your accountant and tax lawyer about the best ways of giving employee gifts legally.
The greatest thing about giving a card as opposed to giving cash is that the recipients will identify purchases as coming right from you. They also make lovely treats for nieces, nephews, and grandchildren. You can teach your young ones how to use money responsibly without having to worry about your kids going over credit limits or biting off more than they can chew.
Gift cards are becoming the most popular way of giving during the Holiday season and for events such as birthdays. Although, The Street points out that there are three reasons you should not use them. One of the reasons being they are just not that personal. Besides being not as personal you may get a better deal by catching something on sale for the retail value of the gift card but a slashed discount that will help your budget. Fine print is another con of gifting with plastic because there could be fees such as inactivity.
