Raise sent out an email today informing ordinary sellers that their commission rate will increase from 12% to 15% beginning June 19th.
In January 2017, they lowered the overall rate from 15% to 12%, and now they are pushing it back up to where it was before. Definitely makes it harder for a small-timer to sell on Raise, especially when they have to compete with people who have better rates.
This change should not affect bulk sellers who have special rates based on their sales volume. I know Raise has been working on streamlining their bulk seller rates as well, and it’s likely we’ll see some information given on that front as well, we’ll see. For now this is just a non-bulk change.
Update: Raise has sent out an email to bulk sellers confirming that nothing has changed for them. They also note that someone who wants to try out being a bulk seller might be able to get a trial bulk seller rate (to see if they can prove themselves as a bulk seller).
any bulk seller got their rate increase or am i the only one?
I’ve sold a few cards but now they’re requesting a photo ID before they’ll pay. Is this normal for non-bulk sellers? I’ve never had to do this with any other gift card re-selling site
First time seller on Raise. My listings have been pending for over 24 hours. Turns out their Market Health dept. wants me to email in the front and back images of the cards I’m selling. Screw this. I’m pulling all my listings. I’m not going to bend over for them now that they’re more costly to sell on than freaking ebay/paypal.
Wow that pretty much knocks me out of their sandbox.
What’s the other competition sites that have better selling rates?
I have sold a few cards with raise, but stopped buying or selling from them after a recent experience. I bought a hotels.com card from them and then realized afterwards that I couldn’t use it for the hotel I wanted. So I figured that I would sell it back on raise, but they wouldn’t let me resell it, saying that hotels.com gift cards were restricted to bulk sellers only. Well, they have lost me as a customer.
[referral link removed] , you can compare buy and sell rates on different websites.
Does this mean Raise will send out more aggressive discounts like 10% off? I got a 10 % once and a lot of 5% that I did not care about. But have some SW cards I was planning to sell, maybe they will go faster now.
The vast majority of their sales come from bulk sellers, who’s rates aren’t changing (yet). I think this is just to make the fraud from smaller sellers less of an impact.
I just started selling to them about two months ago! I don’t sell for a profit but I do incur a small low. But that will be harder now.
Ramp up to bulk level! 🙂
Kind of loathsome to give a 3-business-day notice and not to exclude cards that have already been languishing in their 45-day pending period (as almost all of mine ever have)…
Agreed. My southwest card has been there for four weeks and still pending.
You might be able to call them and have it listed if you can provide a proof that you purchased the cards more than 45 days ago. I was able to do it for my southwest card.
Thanks
Read their brand restrictions. All travel cards have a 45 day hold.
Can’t help but think that it might be tied to TPM going belly up and Raise now stuck with possible low 6 digit liabilities from people who “made themselves whole.”
This would happen on the day I decide to start selling on Raise (listed my first card an hour ago!). Looks like the universe is telling me to take a break from this game…
I just sold 10 GCs on Raise today. If priced correctly (aka cheapest), they sell very quickly.
Thanks! That’s good to hear. How long does it usually take for them to go from pending to approved? The email says 24 hours but I’m hoping that’s not the case. Everything I want to list will be priced lower than what’s currently available so I’m hoping to get it all taken care of before the 19th
I’ve sold with Raise off and on for years, but if you are approved to sell, the GCs go live in 1-2 hours usually, and they usually sell within 1-2 hours if priced correctly.
The 12% fee is tough to swallow, but I wanted to sell these GCs quickly.
Some brands will take long to get approved to list. Dunkin Donuts took 24 hours or more to list.
How can it be profitable? 12% fee seems so crushing
If you buy cards at 20% off and at 5x then it works, especially for small denominations. For example, sell a $25 card for 24 and you make 21.12 plus the points from the purchase.