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More than you want to know about gift cards

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Re: More than you want to know about gift cards

#21

Post by mikepurvis »

lhorie wrote: post #12
winternett wrote: post #10

I still don't understand why it faux-pas to just put cash in a nice card... I just do it anyway. It's a more universal gift card without fees and expiration dates... Anyone who tries to put me down for doing so will simply not be receiving a gift from me next year... Screw stressful stores. plastic cards, and standing in line, my method is much more "green"... :P

In chinese culture, it's a pretty normal thing to give red envelopes with cash inside[0] [0] https://en.wikipedia.org/wiki/Red_envelope

Those are a family thing, though. Other than at my wedding, I've only ever received a straight cash gift from family members (eg, grandparents).

Re: More than you want to know about gift cards

#22

Post by stronglikedan »

winternett wrote: post #10

I still don't understand why it faux-pas to just put cash in a nice card... I just do it anyway. It's a more universal gift card without fees and expiration dates... Anyone who tries to put me down for doing so will simply not be receiving a gift from me next year... Screw stressful stores. plastic cards, and standing in line, my method is much more "green"... :P

I'm with you. Cash for adults. Toys for kids. If it discourages anyone from giving me a gift in the future, that's all the better. I like give giving, not gift exchanging.

Re: More than you want to know about gift cards

#23

Post by mikepurvis »

oneoff786 wrote: post #18
winternett wrote: post #10

I still don't understand why it faux-pas to just put cash in a nice card... I just do it anyway. It's a more universal gift card without fees and expiration dates... Anyone who tries to put me down for doing so will simply not be receiving a gift from me next year... Screw stressful stores. plastic cards, and standing in line, my method is much more "green"... :P

It’s not really a faux pas but it’s not very thoughtful. Receiving a small amount of money is also irrelevant to most middle class and above people.

I don't see a gift card as much more thoughtful than cash, but there's at least the slight push of "use this to spoil yourself" when it's something indulgent like Starbucks, the liquor store, Steam, whatever. Versus cash where you may have given it with that intent, but it just as easily ends up folded into the general pot and becoming something boring like gas, groceries, whatever.

Re: More than you want to know about gift cards

#24

Post by airstrike »

Conversely, here's really "All you need to know about gift cards": think about the interest being generated from all that cash sitting idle on some issuer's account while the recipient of your gift card decides how to spend their money.

> Most retailers do not have sufficient gift card liabilities and do not have sufficiently sophisticated treasury teams to make a meaningful amount of income off an investment portfolio.

This assumes that the retailer is the one holding the cash and not the issuer of the card. I'm by no means an expert in the industry but IIRC there's a whole lot more that goes into this than the author implies.

> Also, they have a much better option. Unlike insurers, who must maintain reserves by regulation, most businesses issuing closed loop gift cards are not required to maintain reserves. They can simply use the cash as a source of working capital for the business, similar to other sources of working capital, except substantially free. Even in a capital-drenched economy, it is tough to beat free.

Agreed, except it would be much better for it to be either me or my recipient who benefits from said "free money".

Re: More than you want to know about gift cards

#25

Post by oneoff786 »

pezzana wrote: post #2

> Personal financial columnists and comedians do not understand the jobs that gift cards do. They are not cash-but-worse-in-every-way. Closed loop cards allow a giver to personalize a gift to the recipient. A Barnes and Noble gift card to a favorite niece tells that niece that you remember she is a reader, unlike those uncreative family members who would just give her cash. The article doesn't actually explain the jo…

Gift giving on Christmas is derived from the wise men bringing gifts to the birth of jesus, and likely to earlier pagan rituals that predate Christmas. It is extremely unlikely that Christmas reverts to a banal religious thing. People like Christmas. Some countries, like Japan, have culturally assimilated it, without any of the religious tie ins.

Re: More than you want to know about gift cards

#26

Post by Cerium »

wodenokoto wrote: post #16

> employers to offer a gym stipend instead of the equivalent amount of salary Isn't that partly tax benefit and partly the hope that steering employees to better health, results in better employees? E.g., for 20usd I can give them 16usd cash after taxes (or whatever) or 20usd worth of gym membership AND I'd rather my employee exercise than spend money on candy. > A Barnes and Noble gift card to a favorite niece tells…

The company gets not just better employees, but marginally cheaper ones. Healthier employees reduce health insurance premiums for corporate group plans.

Re: More than you want to know about gift cards

#27

Post by [deleted] »

wodenokoto wrote: post #16

> employers to offer a gym stipend instead of the equivalent amount of salary Isn't that partly tax benefit and partly the hope that steering employees to better health, results in better employees? E.g., for 20usd I can give them 16usd cash after taxes (or whatever) or 20usd worth of gym membership AND I'd rather my employee exercise than spend money on candy. > A Barnes and Noble gift card to a favorite niece tells…

[deleted]

Re: More than you want to know about gift cards

#28

Post by sumtechguy »

pezzana wrote: post #2

> Personal financial columnists and comedians do not understand the jobs that gift cards do. They are not cash-but-worse-in-every-way. Closed loop cards allow a giver to personalize a gift to the recipient. A Barnes and Noble gift card to a favorite niece tells that niece that you remember she is a reader, unlike those uncreative family members who would just give her cash. The article doesn't actually explain the jo…

Some of my family has reverted to just Christmas greeting cards. We were basically exchanging some amount of equal value cards. We decided to just skip that and get together and have a bit of food and company. For other parts of my family getting together and opening presents is part of the get together and has been a tradition in our family for 50+ years. We open our presents and then have a huge paper wad fight. It is kind of fun and trying to tailor the present to the person can be fun. But yeah if you are down to just exchanging gift cards. Just skip that part.

Re: More than you want to know about gift cards

#29

Post by LouisSayers »

winternett wrote: post #10

I still don't understand why it faux-pas to just put cash in a nice card... I just do it anyway. It's a more universal gift card without fees and expiration dates... Anyone who tries to put me down for doing so will simply not be receiving a gift from me next year... Screw stressful stores. plastic cards, and standing in line, my method is much more "green"... :P

If you're poor then it's definitely appreciated. If you've got money then it's nice, but doesn't have the same effect.

Re: More than you want to know about gift cards

#30

Post by mavhc »

winternett wrote: post #10

I still don't understand why it faux-pas to just put cash in a nice card... I just do it anyway. It's a more universal gift card without fees and expiration dates... Anyone who tries to put me down for doing so will simply not be receiving a gift from me next year... Screw stressful stores. plastic cards, and standing in line, my method is much more "green"... :P

https://jeremyperson.com/2009/12/25/dilbert-christmas-gifts

I'm terrible at gifts, but I'd never give cash/gift cards (cash that expires and you can only spend in one shop)

The point of a gift is to show that you understand your friend/family member and have spent your own time to try to make them happy

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