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Leverage Inc. Announces Bankruptcy Insurance Policy, Offers Complementary Balance Transfer to Holders of Gift Cards Purchased From Sharper Image and Other Bankrupt Merchants
New Policy Enables Consumers to Transfer Unredeemable Gift Card Balances to Other Leverage Merchant Cards
| Source: Leverage Inc.
IRVINE, CA--(Marketwire - February 25, 2008) - Leverage
Inc. today announced a new bankruptcy insurance policy that allows
customers holding gift cards purchased via its LeverageCard.com destination
from Sharper Image and other merchants filing for Chapter 11 bankruptcy
protection to transfer remaining, unredeemable balances to gift cards from
other retailers available on the Leverage site. Sharper Image gift cards
not purchased through Leverage can also be registered on the site and
customers will receive periodic updates as well as applicable assistance
during bankruptcy proceedings.
First reported by the popular consumer advocacy blog Consumerist.com,
Sharper Image has confirmed that it will no longer sell or honor gift cards
in the wake of its bankruptcy filing on February 19. As a result, all
Sharper Image gift card holders will lose the complete balance of their
cards.
As part of a new bankruptcy insurance policy, Leverage now guarantees that
all gift cards with a verifiable balance purchased through LeverageCard.com
can be exchanged for a gift card of the same value from Leverage's merchant
network in the event of bankruptcy.
"During difficult economic times, consumers may suffer when retailer policy
changes leave them with unused gift cards, store credit and faulty
products, among other things," said Mark Roberts, CEO of Leverage, Inc. "We
believe people shouldn't have to pay, both literally and figuratively, when
a retailer suffers the misfortune of having to file for bankruptcy and are
extending this bankruptcy policy to provide some peace of mind to users of
our service."
Sharper Image customers with gift cards purchased through LeverageCard.com
can take advantage of Leverage's bankruptcy insurance policy by contacting
customerservice@leveragecard.com.
Launched in December 2007, Leverage is a free personal web application that
offers savvy consumers a virtual toolbox of ways to optimize their online
retail relationship experience. Leverage offers an array of features to
make shopping more efficient and enjoyable. Leverage members can:
-- Buy gift
cards from top retailers, restaurants, and travel providers
-- Conveniently track gift card balances online
-- Earn
interest on gift card balances
-- Swap gift cards with other Leverage members
-- Manage
loyalty and rewards programs
-- Receive targeted offers and communications from top retailers
-- Maintain complete privacy of all personally identifiable information
About Leverage Inc.
Leverage Inc. provides a free personal web application for users to manage
their offers and savings, gift cards, and loyalty/rewards programs online.
Leverage customers have access to a single application that allows them to
purchase, track and exchange gift cards, earn interest on gift card
balances, manage loyalty and reward programs, and receive highly targeted
offers and savings from retailers. Furthermore, Leverage allows businesses
to deliver offers and marketing messages in a non-interruptive and
completely transparent way at the very moment customers are preparing to
shop. Privately held and based in Irvine, California, Leverage Inc. can be
found at LeverageCard.com.