The blog milenerd.com recently posted about a review of his experience with CardCash.com that was less than satisfactory to say the least. They ordered 24 $100 Starbucks gift cards at a discount of roughly 20%. When they arrived all of the cards either had no balance or balance discrepancies; certainly not what they were expecting and a most unpleasant experience when trying a company for the first time.
However, this experience is not the norm. On the contrary, it is far from the norm. We have successfully brought our fraud rate down to about under 1% of all cards sold. We have numerous customers who have spent thousands of dollars over the years never having had an issue with a card from CardCash. What happened in this case was unique; all the cards came from one seller, a common occurrence when ordering multiple amounts of the same card. Rest assured Mile Nerd is being refunded for all of the cards in the order as per our 45-day guarantee.
The seller in question had developed a good track record with us. Since this incident we have stopped buying from him until we can further assess the risk involved in buying cards from him.
As our company’s exposure increases with more and more Americans taking advantage of the great savings on the secondary market, the importance of understanding the risks of the market increases, however small the risks in fact are. The lion’s share of our cards are pre-owned; consumers around the country turn in their unwanted gift cards for much needed cash. We then turn around and sell these cards to others looking for great discounts at their favorite stores.
That being said, as in all secondary markets, the goods run the risk of not being exactly as advertised. Prior to our pioneering gift card exchange this problem was rampant. Now, purchases from us are good 99% of the time. And because there is still that 1% risk we guarantee all of our cards for 45 days just in case something may happen.
As with everything in life it’s best to know ahead of time as to what may occur.