A $1,000 gift card is a prepaid card that holds a balance of $1,000, which can be used to make purchases up to that amount at a specific retailer, group of stores, or more broadly, depending on the card type. There are two main types:
Store-specific gift cards: These can only be used at a particular store or chain of stores (e.g., Amazon, Walmart).
General-use gift cards: These are often branded by major payment networks like Visa, Mastercard, or American Express and can be used at any merchant that accepts those cards, similar to a debit or credit card.
Gift cards can be physical or digital and are often given as gifts or prizes.
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