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Best gift cards you can give for Christmas

Posted: 3:27 AM, Dec 12, 2016
Updated: 2016-12-12 11:55:53Z

Many holiday shoppers do not know what to buy a loved one for Christmas so they end up giving a gift card instead. But what are the best gift cards you can give?

Personal-finance website WalletHub.com looked at which gift cards are the best to give based upon a gift card's popularity, the average discount to buy a gift card,  the appeal of the retailer, the average resale value of a gift card, and shipping fees incurred from the retailer.

The top five gift cards you can give in 2016 are:

  1. Target gift card
  2. Netflix gift card
  3. Walmart gift card
  4. Amazon gift card
  5. iTunes gift card

The gift cards that offered the highest resale value in 2015 were:

  1. Nike gift card
  2. Walmart gift card
  3. Best Buy gift card
  4. Safeway gift card
  5. Costco gift card

WalletHub offers the following tips for getting the best gift card:

Look For A Discount

Many gift cards can be purchased below face value, especially at warehouse clubs like Sam's Club, Costco or B.J.'s.

Avoid Card-Network Gift Cards

Gift cards from Visa, MasterCard and Discover may seem like a good choice since they can be used at multiple stores, but note the extra fees incurred by these cards. There is generally a $3.95 fee when you buy a gift card from a credit card company, followed by a $2.50 monthly inactivity fee if the card is not used for 12 consecutive months.

Resale Is Always An Option

If you or the recipient does not end up using a particular gift card, you are not out of luck. Instead, you can sell it on a gift card exchange or simply swap gift cards with a friend or family member.

For the full list of 2016's best gift cards, plus 10 money-saving gift card tips, visit: wallethub.com/edu/best-gift-cards/27133/ .