Published on January 18th, 2017 | by Chuck28
Raise Extends Buyer Protection to a Year
Raise recently extended their Buyer Protection from 100-days to a year. (Link) Should a gift card turn out depleted for up to one year from purchase, you can contact Raise for a refund.
All reputable second-hand exchanges offer protection for a given timeframe, typically between 45 days and a year. This change puts Raise at the top of the pack in this regard.
Personally, I like buying gift cards on Raise that I’ll use right away, without even needing to enter them in my spreadsheet, but it’s comforting to know there’s a year to use the cards.
If a retailer goes out of business, Raise does not cover and the buyer would take the loss were that to happen. (Note: Typically, you’d have time to use up the card after it becomes known the retailer is going under, so it’s not a huge risk to hold gift cards.)
Raise has clarified in an email to sellers that the new 1-year guarantee policy does not change the liability of sellers. They continue to be liable for just 100 days, as before. After that, Raise continues the guarantee on their own.