Many credit card issuers allow you to purchase using gift cards Points, miles, or cashback – But is redemption worth it?
it depends.
Why redeem gift card rewards?
There are many reasons to redeem gift card rewards. You may decide to do so.
- You can use gift cards to cover simple gifts. Once you use the reward to purchase a gift card, you can use it to purchase a gift or even give the card itself. For example, if you know someone who loves makeup, a Sephora or Urta gift card can be a solid birthday present. Alternatively, if you need a baby shower gift, you can purchase a target gift card and use it to purchase a baby gift.
- you can Prevents credit card rewards from expired By Account inactive. Rules regarding expiration dates vary by credit card. So if points expire soon, you should use them before you lose them.
Gift Card Redemption Value
The value of a gift card redemption depends on whether credit cards and additional promotions are available.
Historically, gift card redemption has been considered less valuable compared to other redemption options. This is true in most cases. However, with such a card Citi Rewards+® Card*For example, when redeeming gift cards, you can get more value on your points compared to redeeming them for cashback (0.5 cents per card).
What about gift card promotion offers?
Some credit cards offer discounts when redeeming gift card rewards. This means you will pay less than the face value of your card. For example, a $25 gift card costs only $20. This means you can put your money in your pocket for the next person on your list.
For the past few years, Chase has offered 10% discounts on gift card redemptions from brands such as Macy’s and Panera Pan. Information about these offers is usually provided directly to your inbox, but you can also check for updates to the page in your online account. Chase Offer and Amex Offer.
Will the gift card expire?
More than two in five people in the US (43%) have at least one unused gift card. Bankrate’s 2024 Gift Card Survey – This means that many people leave money at the table.
Fortunately, Card Act 2009Gift cards distributed by the card issuer will not expire for at least five years from the date of activation. The exact expiry policy varies depending on the gift card merchant and card issuer and is stated in the terms and conditions of the card.
Conclusion
Redemption of travel rewards is usually the most valuable, but that doesn’t mean that gift card rewards are not worth redeeming from time to time. Redemption of gift card rewards allows you to take advantage of promotions or simply use up your points and keep your account active.
If you have no plans for future trips, or if your points are expired, it may make sense to explore this route.
*Information about Citi Rewards+® cards is collected independently by bank rates. Card details have not been reviewed or approved by the issuer.
