Your intentions are good, but another gift might be more appropriate. As well, you’ll need their account number to execute the transfer. In order to preserve the surprise, you can present the gift without specifics on the occasion and then fill in the details afterward.
- But others — from payment networks like Visa, Mastercard or American Express — can be used anywhere that accepts cards from those networks.
- Many or all of the products featured here are from our partners who compensate us.
- This can be a particularly useful strategy for credit cards that feature bonus categories.
- We’ve picked the best credit cards in a way designed to be the most helpful to the widest variety of readers. [newline]The Target RedCard is available exclusively for purchases made at Target, which means it is rather limited.
- Those engaging in manufactured spending may buy gift cards regularly in significant quantities.
By buying gift cards now, you can send businesses some much-needed cash and wait to redeem your gift card for goods or services at a later date. One major benefit of using a credit card to pay for gift cards is the fact you can earn rewards on your purchase. Utility bills are something that most people pay for by check. However, you’re likely able to pay for these bills using a credit card. Sometimes there is a small fee, but if you are working towards a minimum spending requirement for a sign-up bonus, it can be worth it. You can add an authorized user to your account who will get their own card.
You can’t pay your credit card bill with a gift card, but you can use a gift card to make purchases on your credit card. If you have a balance on your credit card, you’ll need to use another method – like cash or a check to pay it off. The short answer is “No, you can’t pay your credit card bill with gift card”. Gift cards can only be used to make purchases and cannot be used to pay down debt.
If you already have automatic payments set up, move the payments to the card you are trying to earn the bonus on. If you spend a lot on cable, internet, or phone charges, consider a card that offers extra points for charges in these categories. The Chase Ink Business Preferred® earns 3x Ultimate Rewards points on cable, internet, and phone services.
EMV® chips are now on nearly all credit cards issued in the U.S. However, our team has used the Blue Cash Preferred Card to buy gift cards at certain grocery stores (like Wegmans) with no problem, and earned rewards. So, your best bet is just to test it out (but you may want to try smaller amounts first). Yes, you can use credit cards to buy gift cards at most retailers that offer them. But since there are rules governing the use of credit cards and gift cards, it’s perfectly natural to wonder if you can use one to purchase the other. Just to make sure we’re starting out on the same page, let’s do a quick recap on the differences between a debit card, a credit card, and a gift card.
Airline Gift Cards And Manufactured Spend
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- Compare the range of bill pay recipients and fees to Plastiq for the best current deal.
- Each month, your accounts will charge your credit card, and you will earn points.
- Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first.
- For small and larger retailers alike, there is a risk that a gift card’s value could be lost if the store goes out of business before the card is used.
- If you spend a lot on cable, internet, or phone charges, consider a card that offers extra points for charges in these categories.
- The purchase fee applies whether you buy them in a store or online, and it tends to increase with the gift amount.
Before EMV® chips, many stores had restrictions on buying gift cards with credit cards because there was a higher fraud risk. Additionally, some specific locations may have their own restrictions on buying gift cards, so just ask if they can be purchased with a credit card. You may want to have a backup plan (like being able to get cash from a nearby ATM through a debit card) in case a specific store won’t let you use a credit card for the purchase. Buying gift cards with a credit card can be a rewarding way to increase your rewards on purchases that you might otherwise make. Used strategically, gift card purchases can increase your cash back or transferable point rewards, but be sure to understand your cards’ terms and conditions prior to purchasing gift cards. Many issuers exclude gift cards or “cash-like transactions” from earning rewards. You can absolutely buy gift cards with a credit card instead of cash or debit, but you should only do so with a plan.
How We Make Money
We may be compensated when you click on product links, such as credit cards, from one or more of our advertising partners. See our Advertiser Disclosure for more about our partners, how we make money, and our rating methodology. Many credit card companies give their cardholders the option of donating their points, miles, or cash back to select charitable partner organizations. However, donations of your credit card rewards aren’t normally tax deductible since the rewards were never considered taxable income. Unlike traditional rewards cards that may take a billing cycle to receive your rewards, cards with instant rewards programs, like the RedCard, give you a discount on your purchase at checkout.
Check with your specific credit card rewards program for more details. Additionally, donating to a charitable organization may incur a transaction fee. Buying gift cards with grocery store credit cards can be a great choice. This is because grocery stores can offer a wide selection of gift cards, and certain cards offer strong rewards at these locations.
Choosing The Right Gift
You may withdraw cash against the balance on most Mastercard prepaid and gift cards at any ATM. Therefore, it is important to know how much money is on your card before you attempt to withdraw cash from an ATM. To avoid being scammed and receiving a fake gift card with no balance, double-check the site and seller prior to purchasing a discount gift card. Better yet, go directly to the source, whether it’s the actual retailer (like Apple) or a major company like Target that sells Apple gift cards. Liliana Hall is an editor for CNET Money covering banking, credit cards and mortgages.