WalletHub's list of top gift cards, credit cards for holiday shopping

Saving some dough with gift cards, credit cards

FOX 26 Consumer Reporter Heather Sullivan has more on how you can save some money with gift cards and credit cards.

HOUSTON - Are you about to buy gift cards for your family and friends for the holidays? Many people are this year.

WalletHub says it compared the 50 most popular gift cards and found the highest ranking are Amazon, Visa, Walmart, Target, and Starbucks gift cards.

And some gift cards can help you save money on holiday spending.

"This time of year, you can get good deals on gift cards and discounts on them," said Jill Gonzalez, an analyst for WalletHub.

WalletHub found that if you buy a $100 gift card, the average buyer discount on a Fandango gift card was 18.85%, for a Chili's gift card the average discount was 10%, the Cabela's average buyer discount was 9%, Applebee's 8.67%, and an average of 7.99% off a Red Lobster restaurant gift card.

If you already have a gift card that you're not using, it can be resold for cash.

"There are gift card trade sites, third party websites, where you can either trade your gift card for something else, or you can sell your gift card, probably for a little bit less than its actual value," said Gonzalez.

WalletHub found that for a $100 gift card, American Express fetched $90 in resale, a Visa gift card sold for $88.93, and an eBay gift card went for $88.

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But WalletHub warns you to watch out for prepaid cards with fees.

"They're either going to cost you or they're going to cost the recipient," said Gonzalez.

They found a Wawa gift card with a $7.99 fee, an American Airlines Gift Card had a $4.95 fee, and American Express, Visa, and Mastercard gift cards each had a fee of $3.95.

While you want to avoid racking up credit card debt, using some credit cards for holiday shopping can save you money.

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WalletHub says the American Express Blue Cash Everyday Card, with no annual fee and a 0% introductory APR, gives you 1% to 3% back on purchases anywhere, plus 20% back on Amazon.com purchases for the first six months up to $200.

And the Capital One Savor Card offers up to $300 for spending $3,000 within three months of opening an account.

Just remember to pay off the balance of your credit cards so that the interest doesn't eat up your savings.