Speaking of Gift Cards
Posted: Sat Nov 15, 2008 6:25 pm
I was in the grocery store yesterday. They sell gift cards for a lot of different stores. They also have American Express gift cards for sale.
The American Express $100 gift card had a $6.95 charge, plus if you don't use all of it in a year they start charging $2/year. On top of that the stores you use it at will pay a 3-4% fee.
On top of that, while you are not using the $100, Amex has that in its own banks earning a return.
On top of that, some folks will lose their cards and then Amex will just get to keep all the unused money. Of course I guess they will get it $2 a year, but still earn interest on the balance.
I think I'll just give $100 bills.
The American Express $100 gift card had a $6.95 charge, plus if you don't use all of it in a year they start charging $2/year. On top of that the stores you use it at will pay a 3-4% fee.
On top of that, while you are not using the $100, Amex has that in its own banks earning a return.
On top of that, some folks will lose their cards and then Amex will just get to keep all the unused money. Of course I guess they will get it $2 a year, but still earn interest on the balance.
I think I'll just give $100 bills.
