Whether you can be able to buy a gift card using another gift card totally depends on the card-issuing company’s policy. Currently, there is no law that decides whether or not you can buy a gift card with a gift card. So, it’s the businesses that decide whether a customer can use a gift card to buy another gift card in their stores regardless of the same brand or any other third-party card.
Key Takeaways
- Gift cards are issued by different merchants, businesses, financial institutes, etc. and you can use these gift cards as an alternative to cash
- You can use a gift card at retail stores, gas stations, restaurants, and other establishments
- Nowadays various companies offer digital gift cards and this type of card doesn’t have any physical forms
- You should keep in mind that, you can only redeem the gift cards at a store or other places where the gift card is supported
What Are Gift Cards?
Gift cards are mostly known as gift certificates, gift vouchers, or gift tokens and they are a type of prepaid stored-value money card. Usually, gift cards are issued by different merchants, businesses, financial institutes, etc. You can use the gift card as a substitute for cash for transactions within a certain store or connected businesses. Gift cards are issued by merchants and marketers as part of a marketing campaign to boost their sales as well as increase their brand value. The main mission of gift cards is to make the customer return to the shop because most of the gift cards can only be redeemed at the appropriate retail location.
How Do Gift Cards Work?
You can use a gift card at retail stores, gas stations, restaurants, and other establishments. Gift cards are available in two types: open-loop or closed-loop. An open-loop gift card can be used anywhere that accepts that particular brand of card. For example, if you have a gift card with a VISA logo on it then you can use this gift card anywhere the VISA card is accepted. The closed-loop gift cards are opposite to open-loop cards and can only be used at certain merchants. For example, if you buy a gift card from Walmart then you can only spend it at Walmart stores.
Moreover, gift cards are available physically as well as digitally. Digital gift cards don’t have any physical form, instead, you will receive a unique gift code number that you have to use to make purchases at online stores. Therefore, physical gift cards are the most popular type of gift card. You can buy a physical gift card or load your online gift card. Then you can use an app or a card reader in-store to play with these cards.
Why Would People Want To Buy A Gift Card With A Gift Card?
There are many reasons people might want to change their gift card and buy a gift card with another gift card. One key reason is to get a better price. A customer might find a better deal in another store and it is the exact same thing at a lower price. In this type of situation, the customer might want to buy a gift card from that particular store to buy the product.
Moreover, different people have different preferences when it comes to shopping. You might not want to shop in the store your gift card is for and want to buy a gift card from the shop that you prefer for shopping. For example, you might have a gift card from Amazon but you prefer Walmart and want to buy the gift card from Walmart. It is also a very common reason people want to buy a gift card with a gift card.
In many cases, people want to split the value of the gift card to share with others or want to purchase different items. In this type of situation, many people want to shift to a gift card of different value and thus want to buy a gift card with their existing gift card.
FAQs About Can You Buy Gift Cards With A Gift Card?
Can I Withdraw The Money In Gift Cards Through An ATM?
No, you can’t withdraw the money in the gift cards through an ATM. You can only redeem the gift cards at a store or other places where the gift card is supported. For example, if you have a VISA gift card then you can redeem the card anywhere the VISA card is accepted.
Do Gift Cards Expire?
The answer to this question depends on the gift card issuing company. Usually, Visa and Mastercard Gift or Reward Cards never expire. You can check your gift card for the expiration date. If your gift card has an expiration date then it means your card will expire. On the other hand, if your card doesn’t have an expiration date then it means your gift card won’t expire.
Can You Trade Gift Cards For Other Gift Cards?
You can’t trade gift cards for other gift cards at stores from where you have bought the card. However, there are many gift card exchange websites available where you can easily exchange your gift card with another gift card. But you should understand that these are not authorized websites and you might be a victim of fraudulent activity.
Can You Use A Gift Card To Buy A Gift Card At Target?
No, you can’t use a gift card to buy a gift card at Target. You can only use the Target gift cards at Target stores and on Target.com. So, you can’t use the Target gift card to buy any prepaid or specialty gift cards.
Can I Use My Visa Gift Card To Purchase Another Gift Card?
Yes, you can use your existing Visa gift card to buy a new Visa gift card. However, you won’t be able to buy a different gift card using a Visa gift card.
References:
https://www.giftcardgranny.com/blog/can-you-buy-a-gift-card-with-a-gift-card/
https://www.target.com/c/target-giftcards-gift-cards/-/N-5xsxt
Last Updated on November 6, 2022 by Magalie D.
Magalie D. is a Diploma holder in Public Administration & Management from McGill University of Canada. She shares management tips here in MGTBlog when she has nothing to do and gets some free time after working in a multinational company at Toronto.
