Picking a present can be a hassle, but it doesn’t have to be. Gift cards are expected to be a popular choice among holiday shoppers this year, and there are plenty to choose from.
To determine the best gift cards of 2024, WalletHub assessed options from the 50 most popular U.S. retailers across five categories: popularity, average discount, resale value, retailer rating and shipping fees. The cards were then given scores on a 100-point scale, with the best card having the highest total.
Amazon, Target and Sephora all tied for first place, each earning a score of 65. Walmart ranked next with a 61, with Starbucks finishing out the top five at 60.
Sonic gift cardholders are also in for a treat though, as the fast food chain offers the highest average buyer discount at 16.3%. Costco cards had the highest resale value, averaging $87.10. Visa gift card buyers should know, however, the nation’s most popular card also comes with the most shipping/purchase fees — averaging $6.90.
For the second year in a row, Visa, Amazon and Target are projected to be the holiday season’s most popular gift cards. Sephora, Walmart, Starbucks, Disney, American Express, eBay and Google Play finished out the top 10, in that order. The personal finance company ranked two Georgia businesses highly, as well, with Atlanta’s Chick-fil-A and Home Depot cracking the top 12.
Around 44% of the 7,861 respondents to the National Retail Federation’s 2024 December Holiday Consumer Survey said they will be picking up gift cards this year, beating out every gift category except toys/clothes (54%). All of that holiday spending is expected to reach upward of $989 billion.
Precisely how much of that near trillion in shopping will be on gift cards is yet to be seen, but — one thing’s for sure — that’s a lot of store credit.
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