Reward playing cards are a straightforward go-to when shopping for a gift for somebody. Tossing one in your cart throughout a visit to the grocery retailer is about as simple because it will get. In fact, you’ll be able to pay for it with a debit card. However in case you use a very good rewards bank card, you can even earn money again or factors. That famous, some bank card issuers classify a present card buy as a money advance, making it topic to a payment and excessive rate of interest. This is the whole lot it’s essential to learn about shopping for a present card with a bank card. 

The right way to buy a present card with a bank card

Buying a present card with a bank card is easy. While you purchase a present card in individual, it’s essential to select credit score as your fee technique at checkout. While you purchase a present card on-line, it’s essential to add the reward card to your on-line cart and full the fee web page as traditional. 

Does buying a present card rely as a money advance?

Although it could be counterintuitive, some bank card issuers deal with a present card buy as a money advance — which may set off a money advance payment and better rate of interest. And in case you purchase a pay as you go bank card along with your bank card, that is notably more likely to be coded as a money advance as nicely. You are finest off avoiding this apply altogether, although you’ll be able to ask a retailer in the event that they code reward playing cards as a money advance, or ask your card issuer to show off money advances in your account. 

Causes to purchase a present card with a bank card

You may earn money again or factors in your reward card buy when you have the suitable rewards bank card. And a few bank cards supply greater cashback charges in quarterly rotating bonus classes like grocery shops, fuel stations, Amazon.com, Paypal purchases and residential enchancment shops — all of which typically promote reward playing cards. The timing of those classes could not align along with your buying plans, however shopping for reward playing cards in a quarterly bonus class could be a straightforward approach to broaden bonus class purchases and maximize rewards on purchases you have been going to make anyway. 

Ought to I purchase a present card with a bank card?

To be on the secure aspect, overview your card’s phrases and circumstances. Most bank cards will allow you to earn rewards on reward card purchases — however not in each case, and a few could explicitly exclude reward playing cards from incomes rewards. 

The underside line

Shopping for a present card along with your bank card could be an effective way to earn rewards or maximize a bonus class. Most retailers let you buy reward playing cards with a bank card, however learn your card’s nice print to make sure your card’s reward construction applies to reward card purchases. 

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