a gift card loan is giving a gift card to someone and having them pay you back later with another gift card. the reciprocated gift card does not have to be from the same place as the loan gift card.
The rules for obtaining a gift loan typically involve demonstrating a relationship with the person giving the gift, providing documentation of the gift amount, and ensuring that the gift is not a loan that needs to be repaid.
Probably not. I think you would have two options on how to classify this. You could either treat it as a loan, ie. you loaned money to someone to pay off their credit card. Receiving a loan is not taxable, but there should be a bona fide expectation that you are going to be paid back. Of course, if you are going to charge your friend interest on that loan the interest would be taxable income. The other option would be to treat it as a gift. As long as you are under the gift threshold (in 2008 you can give someone a gift up to $12,000 and there is no tax) there is no tax from anyone. If you are calling it a gift and it was more than $12,000 you may need to file a gift tax return and pay a gift tax. Note that the person GIVING a gift is responsible for paying the gift tax, not the person receiving the gift.
The name on the card for this Visa gift card is Name on the card.
The name on the card for the Amex gift card is the recipient's name.
The name of the American Express gift card is simply "American Express Gift Card."
no. it is not, its a gift card that is un-reloadable.
yes they do
How to get free gift card
A gift loan is when someone gives you money without expecting you to pay it back, while a traditional loan is money you borrow and must repay with interest. With a gift loan, there is no obligation to repay, but with a traditional loan, you must repay the borrowed amount plus interest over time.
You can add the money from the loan to your card anywhere that accepts the card.
A loan off of debit card like credit card cash advance? Yes
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