Martin Lewis warned Britons to beware giving gift cards this Christmas on Good Morning Britain this morning.

The 45-year-old financial journalist appeared on the ITV show to tell viewers why he thinks gift cards make bad presents.

Martin Lewis said: “I’m not generally a fan of gift vouchers. For three main reasons…

1. If the shop goes bust, they’re worthless, there’s little recourse. So if you get them don’t hold them for long – and make sure it’s a big solid reputable store.

2. Often they have dates (sometimes hidden) by which they need to be used. 

3. Cash is far more flexible. It never dates and you can use it anywhere.”

The Money Saving Expert did a poll on his social media account on Twitter, and found that 50 per cent of people prefer giving vouchers, but gift receivers prefer to be given the money.

However, the financial expert has revealed a trick to get discounted gift cars.

He said: “Online marketplace Zeek lets sellers flog unwanted gift cards and e-vouchers from hundreds of retailers, usually at 2 per cent  to 25 per cent off. 

“So if you know you’re going to be buying in a certain shop soon, then check if there’s a discounted gift voucher on there.”

Martin added: “Right now there’s a lot of demand, so stock won’t be as high as during other times of the year, and discounts tend to be smaller, yet you can still get £100 John Lewis gift card for £98 (2% discount), a £25 New Look gift card for £23.50 (6% discount), a £50 FeelUnique gift card for £46 (8% discount) and a £100 Forever 21 gift card for £86 (14% discount). 

“And as gift cards count as cash, you can usually combine them with sales or codes for effectively a double discount.”

Get a free £50 of Nectar points

Martin told viewers: “If you apply and are accepted for Sainsbury’s Nectar credit card by Thursday 28 December you’ll earn 1,000 bonus points (worth £5) each time you spend £35 or more on Sainsbury’s shopping with your credit card, up to ten times in your first 2 months - so that’s 10,000 points (worth £50).  

 “You can even max the bonus by doing a big shop and splitting your shopping into chunks of £35 spend. 

“Yet ensure you pay the card off in full each month (preferably direct debit) so you never get charged interest.”

Is it cheaper to turn your heating on and off? Martin Lewis revealed which setting will help you save money this winter.

The Money Saving Expert told Holly Willoughby and Phillip Schofield that is it best to use a timer to turn heating on and off to save money.

He said earlier this month: “They say it’s better to only put the heating on when you need it – as you pay to pump energy in as and when is needed, and to keep pumping it in constantly isn’t efficient.”