Do you wonder why Gift cards have varying rates? Also, why do their prices vary at different times of the year? It’s important to note that this varying gift card rate only applies when you want to convert your gift cards to Naira.
Before I proceed with this, let me show you how to calculate the rate of your gift card. In simple steps, you can use the Ridima calculator to find out how much your card is worth. See the process below;
- Open the Ridima calculator.
- Select the Gift Card Category.
- Use “Select Country”
- Choose “Select Type”
- Choose “Select Gift Card Sub-category”
- Input the “Amount”
Six Reasons Gift Cards Have Varying Rates
There are several reasons gift cards have differing rates. Nevertheless, only a few of these reasons directly apply to all gift cards. In this section, I will show you five reasons different gift cards have varying rates;
The Brand of the Gift Card
The brand of the gift card is the most determinant factor in its rate. Some brands are more versatile than others, while some are rare to find. Either way, the uniqueness of the brand will have a direct impact on the rate of the gift card.
Generally, Steam gift cards have the highest rate. Also, they differ based on their country. The United Kingdom Steam version is the most expensive, followed by Europe and then the United States.
The Versatility of the Gift Card
Another factor that can determine the rate is the versatility of the gift card. If a card is highly versatile, you can expect more demand for it. As a result, this will increase the rate of the gift card. On the other hand, when a card is not in high demand in the market, one can expect the rate to be low.
Economic Factor
Just like any commodity, several economic factors can impact the price of a gift card. For example, the rate of currency exchange can make the price of a gift card vary as compared to another.
Using Steam as an example, the United Kingdom version is more expensive because Pound sterling is a stronger currency than euros and dollars. This means that the performance of each currency can impact the price of their respective gift cards.
Activation Status
Confirm the activation status of your gift card before you try to exchange it. Gift cards with their activation issue resolved are worth more than others. You can seek assistance from support to resolve this issue.
Special Occasions and Promotions
Special occasions and promotions can influence the rate of a gift card. Most brands like to be generous on people’s special occasions, and they may offer high rates on such days.
Also, some brands can offer promotions to encourage the purchase of a gift card. That means that such a gift card is not in popular demand. Hence, the rate might not be high.
The Exchange Platform
In Nigeria, no regulating body controls the rates of gift cards. However, Ridima offers the highest gift card in Nigeria. Much more than seamless and fast transactions, you can bank on their customer support to resolve your card’s activation status or any problem you may experience. Finally, you can determine the rate of your gift card with the Ridima calculator before you exchange it for Naira.
Trade with Ridima today, and you will not regret it.
Frequently Asked Questions About Varying Gift Cards Rates
Question 1: Which gift card platform has the highest rate in Nigeria?
Ridima offers the highest gift card rate in Nigeria. This is in addition to their stress-free transaction.
Question 2: How can I know the rate of my gift card?
You can use the Ridima calculator to determine the rate of your gift card. In just a few steps, you can know how much your card is worth in Naira.
Question 3: Which gift card has the highest rate in Nigeria?
The rate of gift cards is uncertain for several reasons. As of today, Steam is the gift card with the highest rate. However, it belongs to the United Kingdom and is currently worth #1625.
Question 4: How can I resolve the “Activation issue” on my gift card?
You can contact the gift card brand to resolve activation issues. However, if you purchase your card from Ridima, customer support is readily available to resolve your challenges.
Question 5: Can the rate of my gift card increase if I keep it?
The rate of a gift card is determined by several factors, which makes it unpredictable. While one may hope for an increment in rate, you can also expect a possible decrease. The choice is yours. Note that this is not financial advice.
Conclusion
Now that you know why gift cards have varying rates and how to determine them, it’s only proper to trade at the right platform, Ridima. You will enjoy the highest gift card rates in Nigeria and receive your cash quickly. Visit the Ridima website today to get started.
