Posted by Chuck on April 9, 2019
Gift Card Deals

Published on April 9th, 2019 | by Chuck

137

Cardpool Gift Card Exchange Changes Ownership; Share your Recent Experiences

[See update at end of post.]

[Update 4/9/19: Readers are still reporting issues with Cardpool. Reposting as a headsup.]

We’ve been hearing lots of grumblings about problems with Cardpool recently. People are reporting not getting paid for over a month now, and I haven’t heard of good customer service replies to the issue. Someone even set up a Twitter account @CardpoolScammed. (To be clear: the fact that someone set up a Twitter account means absolutely nothing, but it’s an easy place to follow along with what people are saying.)

When people asked me about this initially, I brushed it off saying that Cardpool is owned by Blackhawk, a publicly traded company, and that made them – in my view – probably the most solvent company from all the exchanges, and the one I’d worry least about running away.

There is one rumor that there was a recent change in ownership. I don’t see any indication of that – the Cardpool site still has Blackhawk mention on the bottom of the page – but I guess it’s possible that it just happened or is in the process of happening.

Members of our little community are pretty wary of being left holding the bag on gift cards after what happened to a few other exchanges. Enough people reached out, I figured it’s worth putting this out there as a place for people share their experiences and knowledge on what’s going on.

Update:

Cardpool was sold a couple of weeks ago, and somehow in the transition things are going slowly.

To our valued customers:I would like to inform you that, as of January 14th, Cardpool has changed ownership. After…

Posted by Cardpool on Tuesday, February 5, 2019

Weird that they all the sudden started having processing issues, hard to know exactly what’s going on there. More importantly, Cardpool is now owned by a private company, so not as secure as before (though still not worse, on that account, from other exchanges).

Interestingly, the new owner, David Jones, was apparently a previous employee of Blackhawk, so I guess Blackhawk wasn’t happy with the business and he offered to buy it. Also odd that there’s still mention of Blackhawk on the Cardpool website.

Twitter user tsilver_apex found a report that Cardpool was sold to CPL Acquisition LLC for an undisclosed amount.



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NBG
NBG

No wonder i had issues with my order. My less than $50 sell was paid in 1 day. My >$150 GC sell was not paid for over a week. Had to email multiple times and no replies. Twitter channel- no replies. Phone number- goes to voicemail. Yday, all of a sudden see the reply and also payment processed. Not sure if this is standard. This is my first time selling with them and <5 orders so far.

TW
TW

I sat on trying to sell a few $100 AA.com gift cards for 2 weeks with no movement. Emailed them to have the order cancelled, never heard back. Absolutely terrible company.

Jay
Jay

This is my problem as of right now too.
Been waiting for more than a week on an $100 AA giftcard sale.
Send them another email this morning asking for an update before I saw Doc’s post now.

Two Questions if you dont mind:

1) Does your order on Cardpool show ‘Cancelled’ or is it still ‘In Review’?

2.) Where did you end up selling the AA card at?

DJ
DJ

Try moving to cardcash. Had success with Apple gift cards

Lisa
Lisa

I tried that. Sold a $50 card to cardcash, no problem. Even sent a note complementing how easy and quick it was. Then tried a $100 card. Bought card, verified balance, and “sold” to cardcash same day. As is usual, they required that I provide a credit card number to cover potential fraud. Today I was informed that their software flagged it as high risk. Called. Asked for more info. Other than that they agreed the value was good, they stonewalled. Not our fault, it’s our software. It boils down to they’ve falsely identified me as a crook. And denied responsibility for identifying me as a crook.
It is true that they have no obligation to do business with me. But to falsely identify me as a crook AND tell me it’s not their fault? Offensive twice over.

Debit
Debit

Carpool canceled my orders of buying gift cards. Saying triggered fraud algos. I used my credit card, sent to my home. I.e shipping and buying address is the same.
Wtf is the problem?

A lot of these stupid deals are not worth the headache.

Ian Pearson
Ian Pearson

Sold about $1000 of gift cards on 2/2 for cash and still in the “In Review” state. In December, I exchanged about $200 of gift cards for Amazon gift cards and it took just over 1 week to pay out. Prior to that, similar sales orders payed instantly or with three days.

Ian Pearson
Ian Pearson

First of two transactions from 2/2 was just “completed” and a check has been mailed out.

Ian Pearson
Ian Pearson

Second of two transactions from 2/2 triggered a phone call for transaction verification. Was asked when I bought the gift cards, how I acquired them, and why I am selling.

not word
not word

payed is not a word

Beefer
Beefer

Looks to be popping off in /r/legaladvice

https://np.reddit.com/r/legaladvice/comments/aoct3b/cardpool_scam

Quality comments such as these: “So it’s a place to launder money? ”

Looks like some historic issues from two years ago: https://np.reddit.com/r/Scams/comments/5nlh58/problems_with_cardpoolcom

Never used them personally. ABCGC always gives me better rates.

Stephen
Stephen

ABC flags a lot of airline GC resellers as high risk and doesn’t allow them to sell anything on their website.

Trevor
Trevor

Seems like ABCGC website was recently discontinued so everyone had to move over to their main Cardcash website.

GC Ninja
GC Ninja

I’ve never had any issue with them. Payment is well within their own stated time frame and accurate. CS responds in a reasonable time frame (I wouldn’t say quickly, but reasonable). I haven’t sold a great deal to them (10-15 orders), but I’ve never had an issue (most recent sale was end of January).
In fact, the only issue I ever had was my own fault: I transposed two numbers in a pin when entering the card online. CardPool sent me a courtesy email stating it appeared I entered the numbers incorrectly. As soon as I resubmitted with the correct numbers, payment went off without a hitch.

Chex Party Mix
Chex Party Mix

In December I sold 2 cards quickly (about 1 week), then things ground to a halt in January. After over 3 weeks, 2 cards finally came out of “in review” and sold (but still pending buyer verification).

3 other cards have now been “in review” for 21 days.

Their customer service is completely fictitious. I have emailed and called and never got a response.

I suppose it could be a supply/demand bottleneck with too many people (like me) flipping their airline incidental cards at the turn of the year. Hopefully not a deeper problem.

Flea
Flea

For the record, Raise is doing a 45-day hold on airline cards (discovered this when I went to flip mine). Ironically, as those were the only type of GC’s I had posted, the initial card (Delta) I posted, they didn’t bother to put a hold on; I guess because they think it’s a bad impression for folks to have their first-ever transaction with the site be frozen for weeks or else you’d never bother listing..

Clinton
Clinton

My experience is about the same. Had no trouble in early December (although they did kick back one listing in case of fraud), but things have been rough since December/early January. My listing from January 8th sold on the 29th and had a worrying status of something like “waiting for buyer to confirm” for 5 or 6 days. However, it was updated to “sold” this week and I got the email that says the check is on the way. No reason no to think that I would not get it at this point.

I haven’t bothered with customer service yet, but I may not try any more listings if this many people are having these kind of issues.

eclipsor
eclipsor

I recently contacted customer service because I had AA cards in review forever, they have a 45 day hold policy for a lot of airline cards apparently. Mine ended a week ago though and it emailed me when it was good and it sold the next day as usual.

Mike
Mike

Terrible, terrible, horrible customer service. Usually use Cardcash where I have had zero issues (In fact once I was paid out in less than 6 hours to an Amazon gift card) So Cardcash must have been swamped with Triple dip American Airlines cards and had no offers so I went to Cardpool having heard on r/churning they were decent. I chose the $78 “faster” option instead of listing it and it went to review. About 2 weeks later I reached out and got an automated response but nothing else. So I tried emailing that address a couple times and was ignored. Finally I mentioned the Better Business Bureau in an email and magically they responded the next day my payment was processed. I am not out of the woods yet though as I am on day 5 of waiting for my mailed check. Avoid this site at all costs, much better options with much better communication. Don’t make the mistake either of “Well it worked in the past” something is going on with them and I wouldn’t be surprised if they bit off more than they can chew.

Jay
Jay

Listed $100 AA card on 1/05, sold 1/25, still no dollary-doos in the mail. Sent an email two days ago, received no response. Still optimistic that this shuffle in ownership will sort things out sooner or later.

weather3369
weather3369

listed a 100 AA eGC back on 12/27. Canceled due to an “issue verifying” back on 1/8. There was nothing wrong with the card at all, and was never used. Sold elsewhere.

Michael
Michael

I sold a ~900 Brooks Brothers gift card recently. After submitting, the order wasn’t fulfilled for almost 6 weeks and the value of the gift card dropped to around $713, then back up to exactly $775. They paid me out based on the $775. They are scammers that stole $100+ of payout from me.

Tikky
Tikky

I’ve had over $100 GC in purchases left in limbo for over 3 weeks in past. Account locked when trying to sell $50 in Macy GC. Then after receiving my charge back via CC dispute they terminated my account. Don’t think it’s worth steering people to as it may reflect on DOC reputation (Its not your fault).

GC Seller
GC Seller

I was waiting for over a month to get paid out on two GC sales in December/January. Cardpool never really responded in any rational way to my multiple inquiries. Eventually got paid after I send numerous emails, but with no explanation or apology.

Separately, I was told that I need to sign up for a bulk seller account to list any more GCs. But when I tried to sign up, I received no response for over a week. When I inquired, I was told that they aren’t accepting bulk seller applications and to try again in six months. But in the meantime, I still can’t sell any other GCs with my individual seller account. Words cannot express the stupidity over at Cardpool.

Other than a couple of listings that were cancelled for no reason, I never really had any problem with Cardpool until about December – but they seem to have gone off a cliff since then.

Bob
Bob

Trying to sell two American Airlines giftcards. One I did the listing option (higher payout) while the other I took the lower, quicker Amazon option. Both were in review for over two weeks. I emailed customer service multiple times and even sent a message on Facebook. Finally got this response:

Hello,

Thank you for contacting Cardpool.com. Due to the holidays, our processing center is experiencing an unanticipated higher volume of transactions than normal. **Please be advised that the sell department is backlogged in transactions.** Therefore, some additional processing time will apply. We do apologize for this delay. delay.

Our hours of operation constitute the hours from 9:00 AM-5:30 PM Monday – Friday PST. Please bear in mind that all transactions that our processing agents are not able to get to by the end of business hour or submitted after business hours or over the weekend/holidays are not process until the next business day.

_Please bear in mind that the transactions are processed in the sequence in which they were received in the queue. _Our processing center typically completes all gift card transactions within one “business” day from the point of submission/receipt of gift cards. The transactions are very often processed within a few hours, however there is some processing time involved as we verify the value of every gift card before payment is issued.

_While most transactions are handled within 1 business day, a small number of them may require some additional verification and may take longer to review. Your transaction will remain pending until all the various departments review the transaction._

**Our records indicate that your transaction has been put on manual review and one of our agent will evaluate them when your transactions come up in the queue to be reviewed.**

The listing one was done on 1/21/19. They sent me an email a few days ago saying the card has finally sold and has now been shipped (its an e-card). Once the buyer verifies the card then they will be sending me an Amazon gift card in 10-14 days. Don’t quite understand why it will take 10-14 days when they are all e-gift cards.

The one where I took the lower payout was listed 1/27/19 and I received my amazon gift card on 2/3/19. So unless you are willing to be patient, I would just take the lower payout.

JDub
JDub

Sold TGI Friday’s gift card for Amazon gift card. I chose the “faster” option. That was January 28th. Status on Cardpool shows “In Review” and I still have not received my Amazon gift card.

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