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The Plastic Merchant Update
It’s been over a month since gift card reseller The Plastic Merchant started bouncing checks before going radio silent. We were the first site that I know of to write about the issues when they arose and I know a number of readers were affected. Some small developments have arisen so I thought I would get you up to date.
Here are our previous posts on this saga in case you want to catch up:
- Are There Issues with The Plastic Merchant? Reports Are Not Looking Good!
- Gift Card Reselling Following The Plastic Merchant Debacle: Things to Know & How to Protect Yourself
No New Contact
On the day of our first post (June 6) a member of the TPM staff wrote all sellers explaining that the owner was ill. To this date I am not aware of anyone else who has been contacted or heard from anyone related to the company. In other words, it has been 33 days since they have said anything.
Website Remains Up
Throughout this whole ordeal The Plastic Merchant website has remained operating. Up until the past day or two there was even still capacity to submit cards. This means that sellers who didn’t know the situation could theoretically have submitted even more cards. Thankfully that has now seemed to change.
I checked the site a couple of days ago and noticed all of the capacities were still there, but as of today capacity has been zeroed out meaning people aren’t able to submit cards. This is something that should have been done 33 days ago and I sincerely hope no one out of the loop submitted cards that they won’t get paid for. This also means that someone is actively managing the backend of the site again.
Purchase Orders Cancelled
While this hasn’t happened to me, someone in our Reselling Facebook Group mentioned some unprocessed purchase orders have been cancelled. This is good and hopefully none of the cards submitted were used or sold. I am assuming they are being cancelled without being processed and that is good.
Going Forward From Here
I reached out once again to The Plastic Merchant team to see if they had any news to share or a statement for this post. Unsurprisingly they didn’t respond. There are still seemingly hundreds of people out a lot of money, so at some point hopefully they will contact those people and at least give them the benefit of an explanation.
I’m not aware of any bankruptcy filing by the company or its owner, but I wouldn’t be surprised if that comes next. I still hope that things will be made right, but the doubt builds more every day we go without a response.
Any New Info?
Since I know many of you are involved in this unfortunate situation, perhaps someone has even more info? What have you heard/learned? Please share with others in the comments.
Miles to Memories has partnered with CardRatings for our coverage of credit card products. Miles to Memories and CardRatings may receive a commission from card issuers.