Sometimes, the difference between a regular American Express debit card and a gift card can be confusing. Most likely, you’ll find yourself asking, what is an AMEX gift card used for?
American Express gift cards are very much like regular debit cards, but they differ slightly. Since they can both be used in the same way, is it necessary for the company to issue both variations?
In this article, we’ll talk about American Express gift cards and what their uses are.
About American Express Gift Cards (at a Glance)
American Express (AMEX) is an American multinational company that provides payment cards. The company provides its clients with options like credit cards, debit cards and gift cards.
An AMEX gift card, unlike other AMEX cards, can not be used to withdraw cash. They are pre-loaded with cash. The holder can redeem items with the gift card till they exhaust cash on it. What sets an AMEX gift card apart from the rest is that they are open-loop gift cards.
What is an Open Loop AMEX Gift Card?
There are two types of gift cards, closed-loop and open-loop. An open-loop gift card is a type of gift card that is not tied to a particular brand. They can be used on different platforms and stores. E.g. American Express, Visa and MasterCard gift cards.
In contrast, a closed-loop gift card is tied to a particular brand and can’t be used on any other brand’s store/online platform. E.g. Amazon gift cards, eBay gift cards etc.
Benefits of AMEX Gift Cards – The Advantages
AMEX gift cards are always in high demand because of their amazing benefits. Here are some of them.
1. Wide Acceptance
One of the biggest benefits of using an Amex gift card is that they’re open-loop. You can shop in any store that accepts AMEX cards. Thus giving the holder access to more options when shopping.
2. No Expiration Date
All debit and credit cards have expiration dates. Most times, they expire-4 years from the issuing date. But Amex gift cards do not expire. No matter how long you keep yours, you can always use it whenever you’re ready.
3. Zero usage fees.
This is one other way your AMEX gift card differs from a regular debit or credit card. Most credit or debit cards require monthly maintenance fees. But an AMEX gift card does not have usage fees. As soon as you
What Are The Uses Of AMEX Gift Cards?
Gift cards are generally used to buy items from stores or pay for services. One thing the gift card can’t do is withdraw cash from ATMs. As stated earlier, open-loop gift cards offer an advantage in the form of letting users shop from stores that accept them. So, since the AMEX gift card is an open-loop card, what are its uses?
You can use an American Express gift card to shop online or offline. This is the obvious answer when anyone asks what an American Express gift card is used for. You can shop across different stores both online and physically. Payment is quite easy with this card as it is widely recognised and accepted. All you need do is pick the items you want and redeem your gift card to make payment.
FAQs About The Uses of AMEX Gift Cards
Are American Express gift cards accepted in Nigeria?
A: Yes. you can use an AMEX gift card in Nigeria when shopping online from both national and international merchant stores. You can also sell them your AMEX gift card for cash or exchange it for crypto or another gift card.
Where can I buy an American Express gift card?
A: There are several platforms that sell gift cards in Nigeria, like Prestmit. Most times, you’ll receive the virtual card via email. But if you’re in America, you can buy from a walk-in retail store or have the company ship a physical card to your location.
How much is an American Express gift card in Nigeria?
A: Generally, gift card rates depend on the exchange rate and the platform. You can check the rates on Prestmit using their rate calculator. Bear in mind that rates change frequently.
Now that you know what AMEX gift cards are used for, you have a better chance at maximising it if or when you get one. You can also choose to gift it to a loved one considering its benefits They’re perfect for any occasion, and you can easily source them online without any hassles. At least if they do not redeem a gift item, they can sell them for cash or even crypto.
Remember to confirm that you’re buying from a legit platform. Check out the reviews, reputation and customer service availability before you proceed.