Substantial Rise in E-Cards, According to 2011 Gift Card Survey from Bankrate.com and CreditCards.com

NEW YORK, Nov. 7, 2011 /PRNewswire/ -- There has been a significant rise in the availability of electronic gift cards ("e-cards") over the past year, according to the 2011 Gift Card Survey released today by Bankrate.com and CreditCards.com. Fifty-one percent of the gift cards that were surveyed can be delivered electronically, up from 41% in last year's survey.

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Several prominent retailers (such as Best Buy, Gap and Pizza Hut) and one major credit card issuer (American Express) all introduced e-cards for the first time within the past 12 months. Target and Starbucks added mobile-specific gift cards, and Amazon began allowing consumers to send gift cards via Facebook.

Other findings included:

• Only eight percent of the cards that were surveyed have expiration dates (all of which are general purpose cards issued by credit card brands).
• One in seven (14%) charge purchase fees.
• Sixty-five percent replace the card or funds in the event of loss or theft.
• Ninety-two percent are free of dormancy or maintenance fees.
• Seventy-three percent of the retail cards offer free shipping or delivery.

"Most gift cards do not include fees or expiration dates, but consumers should be aware of the policies of their specific cards," said Janna Herron of Bankrate.com. "In some cases, gift cards are even better than cash because they provide added benefits such as free shipping or delivery. And with more companies offering virtual gift cards, it's easier and faster to get your loved one a gift they can use."

The survey included 63 popular gift cards in the following categories: retail, restaurant, airline, gas station and general purpose. The entire survey can be viewed here: http://www.bankrate.com/finance/credit-cards/compare-gift-cards.aspx.

About Bankrate, Inc.

Bankrate is a leading publisher, aggregator and distributor of personal finance content on the Internet. Bankrate provides consumers with proprietary, fully researched, comprehensive, independent and objective personal finance editorial content across multiple vertical categories including mortgages, deposits, insurance, credit cards, and other categories, such as retirement, automobile loans, and taxes. The Bankrate network includes Bankrate.com, our flagship website, and other owned and operated personal finance websites, including CreditCards.com, Interest.com, Bankaholic.com, Mortgage-calc.com, CreditCardGuide.com, Nationwide Card Services, InsuranceQuotes.com, CarInsuranceQuotes.com, InsureMe, Bankrate.com.cn, CreditCards.ca, NetQuote.com, and CD.com. Bankrate aggregates rate information from over 4,800 institutions on more than 300 financial products. With coverage of nearly 600 local markets in all 50 U.S. states, Bankrate generates over 172,000 distinct rate tables capturing on average over three million pieces of information daily. Bankrate develops and provides web services to over 75 co-branded websites with online partners, including some of the most trusted and frequently visited personal finance sites on the Internet such as Yahoo!, AOL, CNBC and Bloomberg. In addition, Bankrate licenses editorial content to over 100 newspapers on a daily basis including The Wall Street Journal, USA Today, The New York Times, The Los Angeles Times and The Boston Globe.

Ted Rossman
Public Relations Manager
Bankrate, Inc.
[email protected]
(917) 368-8635

SOURCE Bankrate, Inc.