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Raise 1 Year Gift Card Guarantee
One of the biggest drawbacks of buying gift cards from a 3rd party reseller is FRAUD. Most resellers are honest, but the people they buy cards from are not always legit. I generally don’t buy a 3rd party gift card unless I can use it right away, but things happen and sometimes cards go unused. You shouldn’t have to worry that it is going to go bad.
To ease your mind gift card resellers will guarantee a card for a specific period. One of the main reasons I caution against buying from CardCash is their high fraud rate (in my experience) and their relatively short 45 day guarantee. There is simply too much that can go wrong in that short period of time.
For awhile the industry average guarantee period has been 100 days. Gift Card Zen used to guarantee cards for a lifetime, but sometime last year they quietly dropped their guarantee period to just 100 days. Cardpool and Gift Card Mart also guarantee cards for 100 days.
How Raise’s New Policy Works
Thankfully, one reseller/marketplace, has decided to up their guarantee. Raise has now moved from a 100 day guarantee to a 1 year guarantee. This is great news for people who buy from their site. Here is how it works according to their site:
For one year from the date of purchase, we cover:
- Gift cards that are not active
- Gift cards with an inaccurate balance
- Gift cards delivered as a different brand than ordered
- Gift cards not received within 30 days from the date of purchase
We do not cover:
- Requests received outside of one year
- Buyer’s remorse or change of mind
- Misinterpretation of gift card delivery method or timing of delivery
- Misinterpretation of how a particular gift card is redeemed
- Neglecting to apply a promotional code before a purchase
- Cards lost or misplaced by the buyer
- Gift cards that are resold on any platform other than Raise
- Gift cards that are no longer honored when a retailer goes out of business or files for bankruptcy
This is really good news for customers. Hopefully it will begin to put pressure on the competition to do the same. In an effort to grow market share some resellers have lowered their standards in who they buy from which results in greater amounts of fraud. With the competition raising their guarantees, perhaps this practice will stop which will be a win for buyers looking to save some money.
What do you think? Will Raise’s move force other smaller resellers to do the same?
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