Yes, it is easy to use credit cards for buying the gift cards at many retailers that provide them. You will not be alone in case you did. As per the research, around 91% of the consumers surveyed say that they have bought the gift card (and not necessarily using the credit card), thus it is really good to know ins & outs of how the Vanilla Prepaid MasterCard actually work.
What to Know When Buying the Gift Cards?
There’re some key things you need to note before buying vanilla Prepaid MasterCard:
- Whereas card issuers generally do not have any outright restrictions on buying the gift cards, but some stores might have some specific guidelines that you need to know.
- There are some merchants that might use some other safeguards for the large gift card— like requesting the photo ID and ensure the credit card payment to match your ID.
In addition, there are a few specific locations that might have their restrictions for buying the gift cards, thus ask if they are purchased with the credit card. You need to have the proper backup plan (like getting cash from ATM through debit card) if specific store will not allow you to use your Vanilla card for your purchase.
Buying the gift cards might not yield points and cash back on the rewards credit card.
There are some credit card issuers that have got terms saying that gift cards will not earn any rewards. In such cases it may actually work really fine, with the rewards getting earned, but you will not have any official ground for standing over if it does not work or issuer has any kind of problem with this.
Issuers might count the gift card purchases as the cash advances.
In a few cases (that are quite rare), some issuers might count the gift card purchases and reloads as the cash advances, instead of typical purchases. Same can be true for the prepaid debit cards. It will not be perfect. The cash advances do not earn rewards, and will begin accruing some interest immediately at the high rate. You must make sure that large gift card dealings can count as the regular purchases and with specific merchant or card you are using, instead of cash advances. Just like previous item, you will do this very easily with the small test purchase.