I enjoy gift cards partially because of the idea that I have to spend them in one place. I usually receive them for places I would spend money in anyway, and having a gift card assures me that I will definitely go buy that new pair of jeans I desperately need rather than spending the money on a nice dinner out or something I need less. I don't have a lot of spending money, and while I would never balk at cash, a $50 gift card to Old Navy is just as appreciated. In fact, this Christmas, I got three gift cards to Old Navy and am rather excited about my Old Navy shopping spree for spring clothes that I will have in the near future!
On the other end though, I only like to give gift cards if I know that the person really likes the business I'm buying it from or if I have NO idea what else to get. My friend and I drink Jamba Juice like there is crack in them, and I know the Jamba Juice gift card I received from him was given to me because he knows how much I love them, but hate how much they cost. It would have been the same reason I would have given one to him (and I almost did!). But the Starbucks card I gave another friend was because I wanted to give her something, but didn't want to spend a whole lot of money on it and wanted to get her something she would at least use. So I think there's pros on both the giving and receiving ends.
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