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I gottta tell you. Buying discount gift cards sounds genius on the surface. But is Cardpool legit? The company dubs itself the gift card exchange where you can buy discount gift cards.
I know I have purchased and received far too many gift cards to count over the years. Especially around the holidays. But just think, what if some of those gift cards were purchased at a discount through Cardpool. As you can see this has my wheels turning.
In this article, I’m going to give it to you straight about Cardpool and answer all of the questions that might be floating around in your head. Then in the end, I’ll share if I think it’s worth the time.
What is Cardpool?
Cardpool is an online company that buys and sells gift cards. The gift cards they sell can qualify you for up to 35% off your purchase and if you’re selling one, they will pay you up to 92% of your gift card value. All Cardpool orders include free shipping and come with a one year warranty.
The company offers an easy and fast way to buy and sell gift cards. The company also processes every gift card transaction to verify the balance of each card.
How Does Cardpool Work?
Cardpool either buys or sells a gift card from or to a customer. When you sell a gift card to Cardpool, they will give you real cash (92% of the total value) and if you buy from them, they will sell it to you at a discount.
When selling a gift card to Cardpool, you have to specify the balance on your card and the merchant. They’ll give you a quote and when your quote is accepted, they will send a check to you in the mail. Check payments take up to one week. Also, card purchases from Cardpool take a week to arrive.
Be sure to browse through their available gift cards to find the best ones. Cardpool accepts gift cards from various retailers. When you are making a gift card transaction with Cardpool, it is important to understand that every retailer has its own set of rules and restrictions. So, they will review your card before listing it for sale on their platform.
How do You Make Money with Cardpool?
As I mentioned earlier, you can make money on Cardpool by selling gift cards. They pay you 92% of its value and their rates vary depending on the gift card brand and merchant. Usually, Cardpool gives you two offer options. The first option is when they place your card in the marketplace and the other is when they process your payment.
Although the marketplace pays more, you still have to wait till someone buys your gift card. With the marketplace, you can choose your preferred payout if it doesn’t exceed a certain recommended amount. Also, you receive the amount once a buyer receives your card.
If you’re listing a physical card, then you will have to download and then print the shipping label, which will be provided by Cardpool once it is sold.
NOTE: The company doesn’t accept cards that have a value of less $15. The company allows you to sell both virtual and physical cards.
Another way you can make money with Cardpool is by taking part in their referral program. Whenever you refer someone who ends up making a purchase on Cardpool website, you get a $5 reward.
You can also earn an extra $5 on your gift card sale by redeeming your cash back using the Amazon Gift card.
How do You Get Paid With Cardpool?
Cardpool pays you in two different methods:
- Paper check or
- Amazon Gift Card
The paper check is often sent to your physical location, while an Amazon Gift card will be delivered right to your email address. In case you may need instant payment, then you may need to use the Cardpool cashier-assisted kiosks. If you want to exchange your card and get paid using the cashier kiosks, you have to visit the location. Be sure to have your ID and gift card.
If you’re using select merchants, you can receive instant payment by simply entering the code of your gift card on Cardpool’s website. The only challenge is that you will receive a slightly lower amount compared to what you can get from check in the mail.
What is The Cardpool App All About?
Cardpool has developed an app that can be downloaded from Apple Store. The app allows you to purchase, sell and even redeem gift cards. All your purchases are stored in a digital wallet.
The app, however, doesn’t support marketplace selling. If you want to list a card, then you will have to visit the official website.
Is Cardpool Legit?
Cardpool is a legit site not only to buyers but for sellers too. Lots of people who’ve used Cardpool have reported positive feedback. Plus, the company has been around for over a decade. The company was accredited by the BBB in 2012, and has an A+ rating. It offers a safe to checkout and you can handle all of your gift card transactions securely.
The gift cards that Cardpool deals with have no expiration dates. This means you won’t have to worry about losing money on a card that has expired. One last thing is you can also handle any discounted card you get from local stores.
What are Some of the Most Common Cardpool Complaints?
As with just about any opportunity under the sun, there will be complaints. Nothing is perfect. Here are some of the most common or biggest complaints with Cardpool:
- Some users have complained about unreliable customer service.
- The gift cards can delay and even take forever to be delivered.
- Sometimes the gift cards can go bad. This is when the balance on the card has been removed or the card was stolen or has been canceled by the issuer.
What are the Pros of Cardpool?
- The site is intuitive.
- The company offers free shipping.
- By selling a gift card, you can receive up to 92% of the card value for popular merchants like Best Buy and Apple.
- It is a reputable website with an A+ BBB rating.
- They deal with a variety of gift cards in different markets including electronics, gas, clothing, restaurants and gas and many more.
- They can refund you in case you’re not satisfied with your purchase.
- First-time buyers are protected. The company calls to ask buyers to verify their order info.
- The cards don’t expire.
- You can save money by buying gift cards to use for your shopping.
What are the Cons of Cardpool?
- The company doesn’t purchase low valued gift cards of $25 and less.
- Gift cards from low demand merchants may take too long on the market.
- Delivery can take more than what the company claims.
- The amount you can make by selling gift cards may not be a reliable income source.
There you have it. 10 questions on Cardpool answered and as you can see this company is legit. If you deal with gift cards on a regular basis this might be a great opportunity for you. And when it comes to holidays this is a no-brainer.
In fact, I plan on using this platform myself when the holidays roll around in a few months. I hope you found this article helpful. Cardpool sounds legit to me and I’m surprised the company has been around for so long and I have never heard of it. Well, you live and you learn.