In a move that didn’t require Miss Cleo’s level of premonition to predict but stings nonetheless, GC Galore is reporting that GiftCards.com is now limiting Visa Gift Card loads to $250 per card. That overnight change follows in the footsteps of GiftCardMall and shouldn’t be a shock given the current environment, but that doesn’t make it more pleasant.
Stephen reports that GiftCards.com was still selling $500 Visa Gift Cards last night, but is no longer selling cards loadable with more than $250 as of this morning. That is quite unfortunate given that the $250 cards carry a $4.95 activation fee, making them much more expensive (shipping is additional). That compounds with the fact that shopping portals began limiting rewards at GiftCardMall and GiftCards.com to $2,000 in purchases per month. Going forward, the value proposition and scale will be very limited.
On the other hand, the scale and cost of Simon volume gift cards, particularly with the promos they have been running (unfortunately the most recent one expired), is starting to look better by comparison. I’ve been giving all of the above a miss lately as I’m still very slowly working through gift cards that I had picked up before the pandemic surged and shut everything down – I’m not making any special liquidation trips but rather only liquidating cards on the occasion when I otherwise need to visit a place where I can liquidate.
Again, this change isn’t surprising. Given the current economic environment, I’d guess that there may be some perceived risk leading to these reductions. Hopefully things will eventually turn the other way down the road, though we likely won’t know for quite a while yet.
H/T: GC Galore