I have some store credit on my iTunes account that I got couple months ago and am gifting a film on iTunes for my sisters birthday..
If i gift the film does the cost come off my store credit or my credit card?
Quote from Apple's Support page about Gifting...
"When you purchase an iTunes Gift, you must have a valid credit card on file; you can't purchase an iTunes Gift with store credit..."
So to simplify..
Apple charges the gifted item straight to your credit/debit card. NOT the credit on your account.