It can even be used with its partner site, Think Geek, which sells all kinds of geeky gadgets, toys and clothes. This is where we turn the store-credit system to our advantage. Instead of getting your credit on a GameStop card, you can opt to get it on one of many other gift cards. And GameStop has quite a few to choose from. You can browse the full list on their website, but here are a few of the best gift cards:.
Two notable exceptions that you cannot purchase with store credit at GameStop are Amazon and Visa gift cards. Now if you already see a gift card you love, you may want to get the full balance transferred and call it a day. But if you want to increase your cash payout, opt for the Shell gas card because there is one more step: exchanging the gift card online. The Penny Hoarder has an in-depth guide on how to sell gift cards for cash.
I used a couple of these sites to test which one would give me the most cash for a Shell gas card and for the default GameStop gift card. The reason I recommend transferring your trade-in credit to a Shell gas card is because that card is the most universally in demand.
Most people need gas. Not everyone wants GameStop credit. Cardpool seems like the best choice, and you get more than one option, as all gift cards can be transferred to Amazon. Remember the initial cash offer? By now, you know the value of opting for the in-store credit. The program is tiered, and the basic membership is free. The free tier offers points, which can be redeemed for discounts and other perks, based on how much you spend in the store.
Free members also get birthday bonuses. Elite, indeed. Current Elite members still have Elite perks until their subscriptions expire. This ensures you will get the best quote. GameStop tests them. Mystery Shopping, Paid weekly! See more in Make Money or ask a money question. Throughout the year, GameStop has random trade-in promotions where they will offer extra money for used games. PowerUp Rewards members get notifications for these events. Timing also plays a factor regardless of the promotion.
Depending on how new your game is, your trade-in quote will fluctuate, which makes sense: Newer games generally earn you more money. Or you could wait for a really long time for the game to be considered retro. Those games are back in style. Adam Hardy is a staff writer at The Penny Hoarder.
This was originally published on The Penny Hoarder , which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. Your best bet is to do your research. The company accepts an impressively wide variety of gaming items, including:. In fact, the company also accepts an array of other consumer electronics including iPhones, Android phones, smartwatches, iPads and other tablets, and MP4 players.
That depends. Hardware must have all necessary components for trade. In short, the whole experience was quite frustrating and left us wondering whether the trade-in values we were seeing online were even accurate.
GadgetGone, in contrast, also accepts retro game consoles and provides and quick and easy online quote. Keep in mind that, as with other estimated trade-in prices, the quote provided online is subject to change once your device is evaluated by the store associate. In contrast, GadgetGone will price-lock your offer for 14 days, giving you plenty of time to comparison shop and prepare your device.
Once there, your item will be assessed by a store associate to confirm its functionality and cosmetic condition before giving you your final trade-in value offer. To ensure a seamless trade-in, be sure to prepare your device accordingly before taking it into GameStop. Make sure the battery is charged, delete any sensitive information, back up your stored data, remove any SIM or memory cards, and gather up any necessary cords, chargers, or necessary accessories.
And for phones, smartwatches, and tablets, double-check that the item is unpaired from your other active devices and any accounts before restoring it to factory settings. No one wants to trade in their old items for pennies. At GameStop, trade-in payouts are typically in-store credit only. This is great news for those looking to expand their game library or trade up to the newest console. For non-gamers, however, probably not so much. Luckily, there is a glimmer of hope.
Prior to the Covid pandemic, GameStop did offer cash for their trade-ins as well. And according to its website, they may still offer cash for select items. In fact, we found cash prices still listed alongside store credit trade-in values, although the cash offers were always considerably less than those for store credit.
With any luck, cash payments will return whenever the world returns to normal. For our comparison, we specifically decided to look at some of the most popular devices to trade in right now: the Xbox One, PS4, and iPhone The short squeeze had worked although some short sellers are thought to still have yet to unwind their positions, presumably because they are hoping the price will fall and their losses will be reduced.
One short-seller that got burned has already announced a wholesale shift in approach. Citron Research has said it will now focus on investing in companies with potential to grow rather than betting against those it thinks have major problems. Other funds have cut their short positions too.
Institutional investors, including hedge funds, will have to increasingly do their research into sentiment expressed online in forums like Reddit and factor this into some of their decisions. Share-dealing apps like Robinhood and the free availability online of information about companies and trading strategies have opened up investing to more and more people. Social media posts by influential stars can also cause share prices to surge or to tank.
Who knows whether they stand to profit from those posts? However, critics from within the financial services industry might be wise to look at their own houses before calling for a crackdown on the new wave of social media sages. After all, similar, although perhaps less blatant, conflicts of interest are rife within investment banks whose analysts pump out research on assets while their traders buy and sell them.
The GameStop story also raises some serious questions about the ethics and legality of colluding online to push up share prices. Every dollar that a short-seller gains, someone on the other side of the trade loses and vice versa. Join thought-provoking conversations, follow other Independent readers and see their replies. Want to bookmark your favourite articles and stories to read or reference later?
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