By Tahirah Blanding, Cheapism.com
Gift cards may be the perfect gift: free money, in a sense, that is equivalent to a personal spending card. Few restrictions apply, so you can pretty much use gift cards when and how you want.
Knowing whether the card is open-loop or closed-loop, though, will ensure you get the most out of your card. An open-loop gift card can be used at any store that accepts major credit cards issued by Visa, MasterCard, Discover, and American Express. A closed-loop gift card can be used only at specific stores or their partners.Learn how to get more out of your gift cards.
Ease and flexibility aside, there are ways to get even more out of the gift card.
Sell It. If you receive a gift card that you don't expect to use (or if you really need the cash), sell it. Several websites buy these cards, such as GiftCard Zen, Gift Card Rescue, and ABC Gift Cards. These websites are reliable, safe, and offer a pretty good buy-back price -- usually severalRead More »from How to Get the Most Out of Your Gift Cards