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For some, gift cards represent the lowest possible effort. It takes virtually no time to pluck a card from a rack and hand it over to a recipient, effectively telling them you can’t be bothered to spend any time selecting a more thoughtful present. For others, a gift card represents the freedom to pick out something they really want and not be burdened by the poor choices of the gift giver.
And so the gift card market continues to grow, with roughly $324.5 billion in revenue generated in 2024. Recently, financial advice site WalletHub looked more closely at the economics of the industry to develop a ranking of the best gift cards to buy (or receive). Here’s what they found.
- Amazon
- Target
- Sephora
- Walmart
- Starbucks
- Disney
- Home Depot
- REI
- eBay
- Nike
- Sonic
- Chick-fil-A
- iTunes
- Best Buy
- Costco
- Netflix
- IKEA
- Lowe’s
- Michaels
- Texas Roadhouse
On the surface, there doesn’t seem to be obvious criteria for what makes for one gift card better than others. Shouldn’t you just buy one for a retailer the recipient likes? Yes and no. WalletHub posits that the best gift card is one that can be purchased at a discount from its face value, which is possible on aftermarket card exchange sites as well as warehouse clubs (like Costco). On the flip side, you also want a card that retains most of its value if the bearer decides to sell it for cash. The site also took into account customer satisfaction ratings for the retailer as well as any fees for getting the card.
Under those metrics, Amazon came out on top, followed by Target, Sephora, Walmart, and Starbucks. All can be bought at a discount, resold for close to face value, and are generally for businesses with high consumer approval.
What you won’t see on the list: gift cards for card networks like Visa or Mastercard. While these cards promote versatility—the owner isn’t limited to just one place—they’re actually a remarkably poor value for the purchaser because they typically come with activation fees of $2.95 to $5.95. As WalletHub points out, if you want to give a recipient more purchasing freedom, cash is cheaper.
Rankings aside, the best gift card is one the recipient will use. It’s estimated Americans have $244 in unused gift card balances hanging around, making them an ideal gift—for the retailer.