Don't quote me on it but I don't think you do have to provide a credit card to buy an eBook at Borders. It uses plain old regular ADE ePub so it doesn't need the cc number for the DRM. I just "bought" one of their free books and it downloaded just fine and I can't find anywhere on the website where it has a credit card number stored for me.
I've bought from Border's before using a gift card and I can't remember having to supply a credit card. One thing I don't like about Border's is it doesn't keep your gift card balance for you in the account the way Amazon does. You have to re-enter your gift card number with every purchase.
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