Gift cards are preloaded monetary value cards commonly issued by retail stores, companies, businesses, and banks. They are great cash alternatives to making purchases at stores or at online stores they are acceptable.
Gift cards simply operate like credit cards issued by banks, just that they are already loaded with a specific fund. The preloaded funds can be used to buy several items at both physical and online stores.
Many people in Nigeria are enjoying the sweetness of gift cards by trading them for cash. As much as getting a reliable platform to trade your cards is important, getting the best rates is also important. Interestingly, Nosh is the go-to platform that offers you reliability and the best rates on all gift card trades.
Types of Gift Cards
Based on specific categories, there are different types of gift cards. Let’s check them out.
Based on forms
Physical and Digital Gift Cards
There are two significant forms of gift cards, namely, physical gift cards and digital gift codes. The most popular among these two is the physical gift card because they are more heartfelt and are reloadable. However, the rise of digital gift cards is expected to change that fact soon.
Digital cards are basically a unique set of codes sent to your email address upon purchase. They can be redeemed during purchases at online stores.
Retail stores like Target, iTunes, and Amazon issue physical gift cards to customers. High-profile restaurants like DoorDash, Uber Eats, and Starbucks also issue their customers physical and digital gift cards. These gift cards make payment easy and fast for customers.
Mobile wallets like Apple Pay, Google Play, and PayPal’s Venmo can be loaded with funds on E-codes. After purchasing on these platforms, you can select their digital code as your payment method.
Based on acceptance
- Open-loop cards: These gift cards are not restricted to use at a particular store. They majorly include Visa, MasterCard, and American Express cards. They are widely used by many because they are basically used almost anywhere.
- Closed-loop cards: These are majorly gift cards created by businesses, restaurants, fuel stations, and retailers. Each brand’s gift card is restricted for use at the brand’s store or specific stores that accept them.
Based on the ability to reload
- Reloadable cards: Cards regarded as reloadable can be updated with funds whenever the existing one on it gets exhausted. A good example is an Amazon gift card.
- Non-reloadable: They are only redeemable as long as this preloaded fund is still on it. Once it gets exhausted, the card is useless. A good example is an Apple Store gift card.
Based on the Issuer
- Credit card businesses and banks: These issuers including financial institutions and credit card firms generally produce open-loop cards. They can be reloaded with funds or not dependent on the holder’s choice. These cards do come with an expiration date and may incur charges.
- Brands/individual business: Many brands leverage gift cards as a strategic means to promote awareness for their products and services. They also used them to reward their loyal customers.
Pros of Gift Cards
There are a good number of reasons why gift cards are admired. Find them below:
- Gift cards are great means to pay for items instead of going around with actual cash notes.
- They are ideal gifts for special occasions like Christmas, thanksgiving, birthdays, and related events.
- They are effective to adjust spending. You can easily evade bank charges.
- Gift cards are comfortable and easy to use.
- They are ideal gifts for loved ones if you aren’t sure of the exact item to get them.
Cons of Gift Cards
As there is no good thing without its downsides, so is a gift card.
- There have been cases of unused gift cards, especially in the States. This is because many tend to forget they even have one since it’s probably lying in their wardrobe or car. This act results in money wastage.
- There is a limiting buying control on closed-loop cards.
- There are chances of gift card scams, or it getting stolen. Always ensure to keep the card number and security code somewhere.
- Hidden charges, reload fees, maintenance fees, and inactivity fees are possible.
Why Nosh is the Best?
The number one reason gift card traders greatly admire Nosh is because of the best gift card rates they enjoy. All kinds of gift cards including Steam gift cards, Google Play gift cards, and others are all offered at a very juicy rate.
Looking for the best gift card rates in Nigeria or Ghana? You can never regret choosing Nosh. The best exchange rates are enjoyed by users on the Nosh app. There is an automated rate calculator on the brand’s website and mobile app. You can use it to check the fund you will get in exchange for your gift card.
There are several other amazing benefits gift card traders enjoy on the platform. The gift card trading experience is convenient and smooth. Not just that, but there is a 24/7 customer support team ready to attend to your queries.
Additionally, user safety and trust are held in high esteem at Nosh. Your personal and gift card information is all protected within the platform.
Hottest Gift Cards on the Nosh App
Get the best rates on all your gift cards rates on the Nosh app. The gift cards listed below are part of the top gift cards with the highest resale value in Nigeria. Check out the current rates below:
Steam Gift Card - 710
Walmart Visa Gift Card - 570
Razer Gold Gift Card - 540
Visa Gift Card - 530
Foot Locker Gift Card - 525
iTunes Gift Card - 520
Google Play Gift Card - 500
American Express Gift Card - 500
Nike Gift Card - 490
Sephora Gift Card - 490
Nordstrom Gift Card - 490
Macy's Gift Card - 480
Amazon Gift Card - 475
eBay Gift Card - 430
Vanilla Gift Card - 430
How to Sell Gift Cards on Nosh
- To register an account for yourself on the website or application, you need to install the app on any Android device or iPhone.
- Click on the “Sell Giftcards” button
- Choose the gift card name you want to sell. You can do this by picking from the dropdown or swiping the card options.
- Next, choose the subcategory of your gift card.
- Punch in the amount of the gift card you want to sell.
- Upload the gift card or input the code in the required field.
- Select “Submit” - website or “Sell” – mobile app.
With the best rates, gift card trading is a profitable activity. As an individual, you can ball yourself this season by making money from trading.
Based on the gift cards and their respective rates listed above, make a good choice about which you want to trade next. Sign up on Nosh to start enjoying these best rates on all gift card trades.