Best gift card / credit card to give for long-term spending???

[redgtxdi]

As Christmas is (well, was) looking to be good this year, just got word that my stepdad lost his job. (Wow, just scored a job a year ago & now again....sigh)

I actually did pretty good this year so I'd like to give my folks some money but don't wanna just wrap up cash. I know some gift/credit cards will drain monthly if you don't spend within a time frame as well as cost fees up front when you buy/load.

What's the current "best" (aka least fee-laiden) card to give someone??

TIA!

 

[dullard]

New rules for gift cards started in August. Fees were drastically cut, inactivity periods before inactivity fees can start are now much longer, only one fee per month is allowed, and you must be notified well in advance of the fees. So, those rules took away any major difference between the gift cards.

But, there is almost always a purchase fee and the other hassles with gift cards (such as the inability to finish a gift card at a gas pump since the gas pump assumes you'll make a massive purchase or problems with restaurants estimating a large tip). For those reasons, cash is always better than a gift card.

What about wrapping a nicely written note about how you will help them and then open a joint free banking account (while those still exist)? That way you avoid large wads of cash, can help without restrictions or most fees (assuming your parents know how not to bounce checks), and you can add money easilly at any time.

 

[redgtxdi]

Thanks dullard!

Though I don't know I'd go that far. I'd probably just give 'em cash then. Or maybe even a couple different gift cards to places that I know they'll use (walmart, target, kohl's) and since they're in California they'd never expire. Maybe that's what I'll do.

 

[Bignate603]

I've sat on target gift cards for almost a year (forgot I had it) and when I used it there hadn't been any fees or anything that reduced the value. Target gift cards would be great if they have a big one nearby.

 

[KeithP]

Maybe a PayPal Debit card?

-KeithP

 

[kami333]

American Express PASS.
No fees to start and monthly fees waived until Oct 2011.

 

[redgtxdi]

American Express PASS.
No fees to start and monthly fees waived until Oct 2011.

Thanks!

Although at $3.95/mo after 10/11, while it is a great suggestion, I wouldn't reward Amex with the potential to allow me(my folks) to "join their club membership" for HALF that price.

I'm feeling Target more & more.

 

[sjwaste]

Just give cash. I don't know why people see that as something less than a gift card. It's been a standard gift in my family for years.