Gift cards are the “go-to” gift for friends and family. Pick a store, choose how much you want to put on the card – and you have an instant gift. Sometimes, despite the best intentions, people get “stuck” with a gift card for a store that doesn’t match their personal tastes or style. Raise has launched a brand new app that will make it easy for you to exchange an unwanted gift card for one that you will like better.
Raise.com has a gift card marketplace that you can browse from their website. They recently launched an iOS app that is an extension of the full Raise.com marketplace. (There isn’t an Android version of the app at this time). Now, you can exchange gift cards on-the-go. You can also use the app to buy a gift card while you wait in line to make a purchase at a “brick and mortar” store.
Use the Raise app to find a gift card from thousands of brands and stores. Sellers list their gift cards at a discounted price, and this enables users to purchase them at a discounted price. Raise does not charge sales tax, shipping costs, or processing fees. The price you see is the price you will pay for the gift card.
It takes 3 – 14 business days for a physical gift card to be delivered. An eGift card can be delivered to your Raise account within the hour. (It might take up to 24 hours if further verification is needed.)
Want to use the Raise app to sell a gift card? They accept gift cards from any brand, retailer, or restaurant. Physical gift cards must have a minimum of $10.00 on them. The eGift cards must have a minimum balance of $1.00 on them. You can sell a partially used gift card.
If your gift card sells, Raise will deduct a 15% commission from the selling price. Physical gift cards will also have either $1.00 or 1% of the value deducted (whichever is greater). Electronic gift cards won’t have any additional fees added (beyond the 15% commission). None of this happens until and unless your gift card sells. There is no charge placed upon gift cards that do not sell.
At this time, Raise does not support international transactions. The app (and the Raise marketplace) is useful for those who live in the United States. There is potential for that to expand in the future.
Overall, it seems to me that the Raise app provides people with a hassle-free way of exchanging an unwanted gift card without requiring them to stand in a “returns” line at the store the gift card was from. It also provides a unique way for people to buy a gift card, at a discount price, while they are shopping. A gift card on Raise could cost less than buying one from the store itself.