The proverbial ink hasn’t dried where my request for higher rates on Cardpool were declined. I am here to report that Cardpool boosted my rates a couple of days ago.
We have updated your pricing to our best tier. Thank you for your continued business.
As soon as I saw that email I immediately logged in and reviewed the rates. There’s actually a handful of rates that are quite interesting and make gift card churning a good business decision. Since this post is broadcasted to a wider audience, I am shielding some of the best rates. We can discuss this on the Saverocity Forum.
As a sampler of the discrepancy between public rates found on Gift Card Granny:
I specifically chose Best Buy, Tiffany, and Walmart. You will see on the publicly listed they are bought at 88%, 0%, and 89% respectively. With the best pricing tier on Cardpool you will be pleasantly surprised to see the rates they will buy.
Now take a look at the rates that Cardpool will buy. Best Buy at 91.25%, Tiffany at 90.25%, and Walmart at 92.25%. This is why I reiterate buying small loss leaders to start off. Build up the volume with solid gift cards, have a proven track record, and the exchanges will reward you. With these high rates, there are better opportunities gift card selling and breaking even. Even using a 1x card like the American Express Starwood Preferred Guest. Combine it with using Santander Bank’s Extra20 and you can make a little money every month.
I haven’t asked Cardpool for higher rates. While those rates you’ve shown are just 0.25 percentage point higher than my current, non-“best tier” Cardpool bulk rates, I’d gladly take any rate increase. I just crossed $30K total sales to Cardpool today… so let’s see if they eventually deem me worthy of getting their “best tier” rates.
Good luck!! I’ve sold them gift cards without any trouble, which I think helps my cause on better rates
Have you ever had issues for selling cards to these websites (cardpool etc..)? For example, they don’t pay to you and never respond to you, or your cards get lost? Gift cards suppose to be treated like cash. If they got lost, anybody can pick up and use them. I even didn’t see a customer service phone to contact cardpool (even it has like CardCash.com, your call never gets connected).
Thankfully I haven’t had any cards getting lost in the mail. I don’t pay for any USPS insurance since it would supposedly cover only $15. I’ve only dealt with Cardpool where I am a registered bulk seller, and ABC Gift Cards. I prefer Cardpool over all, though they don’t have the best rate all the time. They provide a contact number and email address for bulk seller customer service. They usually send me payment notifications within a day or two (rare) of receipt.
Nice to hear that you have such a good luck. Just wondering if the card get lost in the mail or ABC Gift Cards never response you, what kind of legal action can you take to recover your loss?
What @defluxer said is my experience as well, no additional insurance, and getting paid a day or two after Cardpool receives the cards.
I’ve been selling more to GiftCard Zen because they’re easier to get ahold of for a quick chat, and I absolutely love the fact that I can sell gift cards electronically for the same rate as mailing them in.