What are these websites like?
Discounted gift card websites are the websites where sell gift cards to consumers who wish to get a discount (around 2% to 10%) in their favorite stores from the consumers who prefer cash instead of unwanted gift cards or take a commission according to the selling price of the gift card. During this process, these websites can gain profit from the difference between the price they buy and sell the cards.
There are several major discounted gift card websites: CardCash, Cardpool, GiftCards.com and Raise.
CardCash promises consumers that they can have the stated balance for 45 days after they purchase their cards. Meanwhile, CardCash is the only option for consumers to resell their cards if they no longer meet the return policy.
Cardpool and GiftCards. com promise that consumers can get the balance for 100 days with a claims limit of $1,000 after purchasing the card. Note that GiftCards.com only guarantees the value of physical cards, not digital ones. Both of them allow consumers return their unwanted gift cards as long as they are physical and unused at all.
Raise guarantees the value of the cards for 60 days. It has stricter rules if consumers wish to return the cards. It states that only when the card is inactive, for the wrong store, has a different balance or does not arrive within 30 days can they return it.
How to avoid the risks?
Before consumers decide to purchases discounted gift cards, they should always check the website’s policy on its FAQ page and find out buyer protection the website offers. Meanwhile, consumers should also check for evidence of tempering to make sure that no one has republicated the card before.
When consumers receive their gift cards, they should immediately check the balance and if there is a problem, call the vendor at once.
If consumers do not encounter any problem so far, they should use their gift card quickly to avoid any potential risk. When consumers are shopping, do keep the card’s value shown on their receipt and register their card at the retailer’s website.
If consumers think that they may regret for buying the cards, they should check the return policies in advance. Normally, discounted gift card websites will return the cards if they are unused, or inactive within certain period of time. If consumers can’t return their cards according to the return policy, they may resell the card to the site they bought it before, but with a lower price.