How Cardpool.com ripped me off!

Many of you participated in the Amex gift chain promotion in December where you received a free gift for making a purchase at any participating vendor worth at least $25 and paid for with your Amex. One of the most generous vendors was Toys R Us. I ended up buying three $25 gift cards from TRU and ended up receiving a few $10 statement credits and a free $25 TRU gift card. While this was all fine and dandy, I was left with $100 in TRU gift cards just sitting on my desk unused. I finally decided to get rid of them, so I found a website called Cardpool that offers to buy your unused gift cards at a discount (Plastic Jungle is another site that does the same thing). It seemed like a great way to monetize my unused gift cards, albeit at a rather significant discount.

In my case, since I had a physical gift card, I needed to send the gift card into Cardpool using a free postage label.  For $50 in TRU gift cards I would receive either $42 cash through Paypal or $44 in Amazon credit. I chose to receive the payment in Amazon credit, which to me is as good a cash.

I sent my cards in almost three weeks ago and I still have not received credit for my cards! I emailed their customer service a few days ago and received a vauge email stating that the US Postal Service notified them that their mail will be delayed another 2 weeks. I think this is clearly a lie (4 weeks to deliver mail?) and I think I’m going to have to threaten them to get them to pay up.

The good thing here is that I didn’t send them a large value of gift cards, but this is very disconcerting for those that need to monetize their unused gift cards.

I’ll keep you updated on how Cardpool responds.

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