I have been doing a bit of gift card reselling lately in order to manufacture spending and meet minimum spend on some new cards from a recent credit card churn
(SEE ALSO: Planning a November 2015 credit card churn)
(SEE ALSO: November 2015 credit card churn results: 140,000 points + $200 statement credit)
Although my first forays into gift card reselling were a total disaster, I more recently have been taking advantage of a few deals on gift cards – trying to dip my toes back into the waters
Using TopCashBack to get a little extra when selling with Raise
TopCashBack had been offering $1.50 per gift card that you sold with Raise, which was a nice way to get a little bit of a bonus. I would caution against including this cash back in your calculations as to whether a deal makes sense or not, but it was a nice way to get a little extra
This was true up to and including this morning, as I am in the process of liquidating several gift cards I’ve had over the past few days.
But as of about noon Eastern time, I see that the gift card sale cash back has been CHANGED
Now the cash back amount is up to $1.59, but it’s only for gift card balances between $20 and $49.99
Bummer, but at least now I can take advantage of Raise’s bulk import feature instead of having to manually enter my gift cards one by one!
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I think it has always said $20-$50 but higher amounts have tracked. I’ll report back and see if that’s still the case.
Hi Dan, Thanks for the post and discussion on this.
Curious that you start off by noting you’ve been doing “a bit” of gift card re-selling ;-), then at the end of your post, you note that you use the raise “bulk import feature.” Yet doesn’t one need to be a bulk seller for that?
Even if you’re not yet a “bulk seller” with Raise, what’s your understanding on getting the “bulk seller” access? I’ve seen indications they want commitments of $2,000 or 2,500 in sales listings per month. Can one get bulk seller status up front — or do you have to do that kind of sales volume per month first? (I’ve been following raise.com for about a month, — and not convinced as yet it’s a reliable “winner” for ms, esp. not with 15% commissions)
PS: To your post’s headline, I too wondering about that apparent TCB $49.99 limit too. (though thought I’d seen it there for a week or more too) Bummer indeed — if that indeed is a real limit.
I did sign up to be a bulk seller with Raise. They didn’t ask for any sales commitments. They might have asked how much I was planning on selling, but I forget what I told them. They definitely did ask where I was planning on getting my gift cards, and I said that I was buying them online at a discount. With that, I thought they were trying to cut down on fraud
thanks for the reply Dan. I’ve joined you this week, as a “power seller” — am going slow this week, even as “Raise” is going even slower. (as such, missed a heck of a lot of deals while waiting) So many opening glitches, delays, and so many un-nerving questions. I do like having an account rep. — who has been super at resolving problems, questions, and the like…. but the system itself, the very sloppy web site, quite perplexing. (waiting to see if they can get the ach transfer right — un-nerving that I can’t even see if they have the correct account #’s entered in the system!)
Susan, if you’re reading this, has this been your experience too? Any discussion forums out there for raise.com users? Or is it every trader for him/herself…..