Can Cardpool (YC W10) Solve the Unused Gift Card Problem? • Hacker News Board

Re: Can Cardpool (YC W10) Solve the Unused Gift Card Problem?

#21

Post by _delirium » Mon, Mar 01, 2010, 10:21 PM UTC

carol wrote: post #17

wow, why didn't someone come up with this idea sooner? i had a linens n things gift card that i hung on to for about a year bc i couldn't use it. then they went bankrupt and...well, then i just had a card, and no gift.

The general idea's been around for a decade or so, and a new site starts up every few years aimed at it: http://www.google.com/search?&q=sell+gift+cards

One problem is that a large portion of the market is already taken by eBay, which does a brisk business in gift cards: http://gift-certificates.shop.ebay.com/Gift-Certificates-/31...

Re: Can Cardpool (YC W10) Solve the Unused Gift Card Problem?

#22

Post by rbritton » Mon, Mar 01, 2010, 11:09 PM UTC

anamax wrote: post #14

jacktasia wrote: post #4

Earlier quoted context omitted.

I don't think it is. I always just re-gift (or simply give away) my unwanted gift cards. I think the bigger problem is people simply forget they even got them to begin with... and they become hidden in their wallet or drawer. The big box stores love this because the gift cards are already an interest-free loan...but this way they are just free money plain and simple. So the idea that these startups are going to work…

> they become hidden in their wallet or drawer. The big box stores love this because the gift cards are already an interest-free loan Gift cards are often better than an interest-free loan. In some/many states (not CA), the issuer can impose "inactivity" charges. Yup - while it's sitting in your drawer, they get to bleed the card's value down to $0.

In most states they can expire too. http://www.consumersunion.org/pub/core_financial_services/00...

Re: Can Cardpool (YC W10) Solve the Unused Gift Card Problem?

#23

Post by pmsaue0 » Mon, Mar 01, 2010, 11:18 PM UTC

quan wrote: post #10

The ultimate solution to this problem is getting rid of gift cards altogether. Just give cash. People complain that giving money is not thoughtful. Like going to the nearest CVS and paying $105.95 for $100 American Express card any more thoughtful. Gift cards only give the illusion of being thoughtful. I'm not sure why people are offended when receiving cash. There's really no up side compared to cash. It's less conv…

Grandma's give checks, why don't people do that. Perhaps it's more personal than cash

Re: Can Cardpool (YC W10) Solve the Unused Gift Card Problem?

#24

Post by lacker » Mon, Mar 01, 2010, 11:36 PM UTC

amalcon wrote: post #15

japherwocky wrote: post #2

I know the cool way to pitch a startup is "solving a problem", but ... is the Unused Gift Card Problem an actual thing? I have never in my life had to deal with an unused gift card. I.. don't know anyone who has this problem, I've never heard anyone reference it. Yet somehow, there are five funded companies in this space?!

You clearly don't have anyone who insists on giving you, for example, $20 gift cards to Crate and Barrel: the gift that actually costs you money. You want to be able to tell them what you spent it on (to be nice), but there's nothing at Crate and Barrel that you can buy for $20.

Even worse is, last year I got married and we had a registry at Crate and Barrel. Several people ended up giving us... Crate and Barrel gift cards. Apparently because Crate and Barrel always adds gift cards to your registry no matter what you do. Of course by now we already have everything at Crate and Barrel that we could possibly want....

Re: Can Cardpool (YC W10) Solve the Unused Gift Card Problem?

#25

Post by ryanwaggoner » Tue, Mar 02, 2010, 2:43 AM UTC

robryan wrote: post #19

quan wrote: post #10

The ultimate solution to this problem is getting rid of gift cards altogether. Just give cash. People complain that giving money is not thoughtful. Like going to the nearest CVS and paying $105.95 for $100 American Express card any more thoughtful. Gift cards only give the illusion of being thoughtful. I'm not sure why people are offended when receiving cash. There's really no up side compared to cash. It's less conv…

I think there is also the point of trying to restrict what the card receiver can buy. Most people when giving a gift card do it so hopefully the person buys something that is a gift like a dvd rather than food/rent/alcohol ect

Yeah, which is fucking stupid. If you don't have the relationship to know what the person actually wants or needs, why bother with giving them something that's kind of like cash, but can't actually be used to pay for what they want or need?

Re: Can Cardpool (YC W10) Solve the Unused Gift Card Problem?

#26

Post by blasdel » Tue, Mar 02, 2010, 2:46 AM UTC

rlpb wrote: post #12

Gift cards are bought and sold on eBay in high volumes already.

There are a lot of fungible goods that get sold on eBay just to perform arbitrage on discounting and get around sales tax.

Re: Can Cardpool (YC W10) Solve the Unused Gift Card Problem?

#27

Post by vashthestampede » Tue, Mar 02, 2010, 9:49 AM UTC

In California, where I live, gift cards do not expirs, and are redeemable for cash if the amount left on the card is $10.00 or less. I got a blockbuster gift card one time, went to blockbuster, asked for two $10.00 cards and one $5.00 card. The next day I went in and cashed all the cards in. Maybe a bit of work, but since I will never use them, it was worth it for the cash in my pocket.

Re: Can Cardpool (YC W10) Solve the Unused Gift Card Problem?

#28

Post by [deleted] » Tue, Mar 02, 2010, 4:52 PM UTC

japherwocky wrote: post #2

I know the cool way to pitch a startup is "solving a problem", but ... is the Unused Gift Card Problem an actual thing? I have never in my life had to deal with an unused gift card. I.. don't know anyone who has this problem, I've never heard anyone reference it. Yet somehow, there are five funded companies in this space?!

[deleted]