Reselling gift cards and buying pre-owned gift cards is now common practice, especially during gift-giving holidays. If you want to sell your unused gift cards, trade or buy pre-owned gift cards, several companies will facilitate this process for you.
According to the Better Business Bureau, Texas-based gift card marketplace, Cardpool, LLC, currently has an “F” rating due to 2,187 complaints filed against the company in the last three years and failure to eliminate the pattern of complaints and unresolved complaints. Although Cardpool, LLC, has been responsive to complaints, the BBB says they continue to receive a large numbers of complaints about the online gift card seller.
Complaints against Cardpool, LLC, allege failure to issue payment in a timely manner after gift card was submitted and confirmed received by business or non-payment for cards sold. Additional complaints allege that gift cards purchased from the website had a zero balance or the gift cards rejected from being purchased were returned with a zero balance.
BBB offers these tips when considering using a gift card reseller:
- Research the business before you buy, sell, or trade.
- Visit BBB.org and find out the company’s rating.
- Read the complaints and customer reviews of any online gift card reseller that you may be considering.
- Make sure the business has easy to find contact information.
- Understand what the business’s policy is regarding refunds.
- Use a payment method that will allow you to dispute the charges.
- Immediately check the balance and any passwords or pins of any cards that you purchase.
- Use the gift cards quickly. This is particularly important during COVID-19 with a bigger number of businesses closing their doors. When a store goes out of business, their gift cards do, too. Learn more about what to do with your gift cards if a store goes out of business.
(This story was originally published on December 30, 2020)