Wednesday, July 15, 2015

Chasing Raise Bulk Seller Status

Disclaimer: I receive a referral commission for the following link(s) and I greatly appreciate supporting the site:    Raise and Top Cashback

Relevant Posts
$10 Selling Promotion from Raise and Top Cashback
Fishing for Miles - Macy's eGift Cards

Update: Top Cashback has now increased it's promotion to $11 from $10 per listing of $50 or more and $1.65 from $1.50 for listings of $20-$50!  HT - Points for Later Via Twitter.

Raise is by far my favorite gift card reseller site to buy gift cards from, mainly for 3 reasons.

  • Competitive Pricing
    • Their prices are competitive and sometimes you can get a really good deal if you have an inexperienced seller who just wants to be rid of his gift cards.  I have alerts set up for Walmart, Staples and Bed Bath and Beyond.  Emails are sent to me when new listings above a certain percentage off are listed.
      • Unfortunately for buyers, gift cards that are prices well get sold in a blink.  By the time I log into my account, the gift card is already gone.  Bad for buyers, good for sellers.
  • Accept American Express Gift Cards
    • Unlike other sites, like cardpool, Gift Card Zen and anything else I have tried, Raise accepts American Express gift cards as payment.  This adds a few percentage points of savings for anything I buy.
      • 1.9% extra when I buy $2,000 AMEX gift cards at 2.25% without shipping fees.  This is nothing to sniff at when you do a lot of volume.
  • Gift Cards Are Delivered Fast
    • Once you have been verified, your gift cards are sent to you immediately after purchasing.  I've had to wait days for delivery from some other sites for eGift Cards.  Not acceptable in my eyes. I want to make the purchase now and I can't wait.  
      • If you are making a large purchase with a new credit card, sometimes it needs to be verified, but the turnaround on that is usually quick as well.

Selling on Raise

As followers of the blog know, I often discuss gift card arbitrage deals so I am always looking for the best rates and I don't mind using different companies as long as they are reputable as I unfortunately found out with Gift Card Rescue.

Recently, I've been interested in becoming a seller with Raise, mostly for the above reasons and also because they accept gift card #'s and pins so that you don't have to send the gift cards in the mail which can lead to extra fees on shipping and gift cards possibly being lost.  SaveYa and ABC Gift Cards often accept eGift Cards as well, sometimes at a lower rate.

I listed a few gift cards at Raise at about break even and they were snatched up really quickly.  Nice!

Keep in mind that right now, Top Cashback is running a great promotion for sellers.  You can earn up to $10 per $50+ listing.

I would also read Mile Whip's post on DoC for tips to make sure your Top Cashback money tracks properly.

Bulk Seller Status

You can learn more about Bulk Sellers at Raise at this link.  I applied over the phone and I was accepted.  It was a painless process, though I had to be on the phone for about half an hour.

Being a bulk seller has a few advantages:

Raise has a different business model than other sites.  Instead of buying gift cards from you at a set price, they take a commission based on the sale price that you determine.  If you are a non Bulk Seller, that commission is 15% which can be fine for some cards and really eat into your profits for others.  Bulk sellers do a little better.

If you can buy a gift card for 20% off and sell it for 20% off as a non Bulk Seller, the lower Bulk Seller fee goes a long way to profitability.  Many AMEX Offers for You deals fall into that category.

In addition, bulk sellers are paid immediately via ACH instead of a check in the mail.

Disadvantages to Bulk Selling

As seen on their website, Raise requires you to sell $2,500 a month to retain your bulk seller status.  If you don't think you can fulfill that, don't start yet.  Wait until you are ready.


nab said...

hi oren, i don't know how to contact you other than making a comment: have you used vanilla-type debit cards to load redbird at target in Teaneck/NJ?

Oren said...

I have serve only. I switched one credit card loads went away.

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