The Lowdown on Gift Cards

The trend of giving a tiny piece of plastic with benefits is on the rise. According to a recent survey, eight out of ten shoppers plan to give a gift card this holiday season. Meaning -- chances are -- you will give or receive one within the next month.
Since these handy, wallet size cards are becoming an inherent part of our gift giving tradition, it's wise to know you're giving or getting what you can out of them.

Cards are becoming a bit more personalized and geared towards specific lifestyles -- no longer something you'd only give a colleague or distant aunt. For instance, with the economy in turmoil, a lot of my friends and relatives are hinting that they'd like more practical things this year, or a bit of extra "help" to get away for that much needed vacation. Nobody really likes giving cash in an envelope -- a gift card is a prettier, more festive way of giving money towards something a person needs or wants to do.

Here are a few tips to help you get the most out of your money if you'll be giving or receiving one this season:
Giving
On a budget? Gift cards are a good bet -- they're almost always pleasing to the eye, no matter what you're able to afford -- and most retailers start them at around $10.
They're a great way to save too if you have relatives a long ways away and usually have to spend extra cash shipping something to them. Some retailers -- Starbucks, Best Buy, Gap and Staples to name a few -- are now offering e-gift cards, so you just have to press send and the virtual version of the card will appear in the recipient's in box.

No longer are the choices limited to book stores such as Chapters or something that might seem too generalized like the Bay. You can buy your massage-loving sister an experience to look forward to with a card from Spafinder (with choices from around 6,000 spas globally), or an Apple iTunes card for your guitar toting cousin. With the economy still in flux, you can help a loved one get somewhere with a Via Rail gift card -- or stay somewhere with a Fairmont Resort gift card.

President's Choice offers travel insurance cards from $15 and up that can go towards a trip.
If you find there are too many options and can't decide what to buy then your best bet is from a store with variety like Crate and Barrel or Best Buy. Many malls now offer gift cards too so the shopper can decide on which store to buy from.

Receiving
If your grandmother bought you a card from Home Hardware when you're really more of a Holt Renfrew kind of person, don't sweat your designer suit, you can sell your card online. Try Cardswap.ca, where you can sell your card and buy a new one for a discounted price that suits your needs. Or, if you need help paying the mortgage this month, you can sell your card on cardswap for cash.
Cardswap ships for free and you can get up to 35 per cent off on discounted cards, saving even more money. You can also sign up for emails that will let you know when a card from your favorite retailer becomes available.
Or, if you're not in the buying mood, you can donate your card to a charity of your choice on the same site and receive a tax receipt for your donation.