What's the best way to turn GameStop credit into cash?

A

Anthony1

CAGiversary!
I have like $160 in GameStop credit, spread across 3 Edge cards. The problem is, GameStop just doesn't have any good deals on ANYTHING. I mean, there really isn't anything at GameStop that I can't find cheaper someplace else. I'm pretty patient with my deal hunting, and don't need to buy stuff right away. I'm willing to wait to get a better deal. Even when GameStop does the B2G1 free deals, there really aren't too many games that I would actually buy under that scenario.

At first, I was thinking about just buying a game system... I kinda want to get a Xbox 360 Arcade system, but all of the major retailers are offering $30 gift cards if you buy a Xbox 360 Arcade, but I'm pretty sure GameStop doesn't offer anything. At GameStop, you just have to pay the $199.99 plus tax, and you get nothing for your troubles. I'm pretty sure everywhere else gives a $30 gift card.

Anyways, I was just thinking that my best bet is to try to turn this credit into cash. I was thinking of just putting an ad on Craigslist, and offering $100 credit for $90 cash, and seeing if maybe I get lucky and somebody is willing to bite on that. That would only cost me 10 percent, so it wouldn't be too bad. I'm not sure if anybody would go for that, but ya never know.
 
As you suggest, selling at a discount is one quick way. Another one that requires more patience is hunting down rarer games (such as Xenosaga 3, Suikoden V, Ico) and selling those games. The latter method could possibly net you higher than the $160 credit you've got, but does take a time commitment.
 
Cl locally had someone offering to meet at GS and buy a new dsi for $130. That ad was gone quick. Probably have to discount a little more then 10% but you never know. The other thing is that if it is on an edge card you don't pay tax. If you put it on a gift card then you do pay tax. Put an ad on here in the trading forums for the credit. You will get offers but the big problem will be lack of feedback. If you do that I would only sell to very high feedback traders, like tlp and myself. I think you could get $130 for $160 on here, CL would maybe be higher.

The only other thing I could think of would be to watch amazon for games that trade for the same price as gamestop sells them used (give or take a buck or 2) and if you see something that works lock in the trade on amazon and see if you can track down some of the game to trade in for amazon credit which is as good as cash.
 
Yeah, as rmb said, the trading forum is probably the best way. Also, watch the amazon Trade-in of the Day, as you don't have to send anything for a week, so you could add a bunch of the title to your trade-in order, then go buy 'em at GS with your credit, and ship 'em out. Pretty easy, but it will take time for the right offer to come about.
 
[quote name='Anthony1']Anyways, I was just thinking that my best bet is to try to turn this credit into cash. I was thinking of just putting an ad on Craigslist, and offering $100 credit for $90 cash, and seeing if maybe I get lucky and somebody is willing to bite on that. That would only cost me 10 percent, so it wouldn't be too bad. I'm not sure if anybody would go for that, but ya never know.[/QUOTE]

That would have been my first idea. Just post it here, someone is bound to bite. $10 just for helping a fellow CAG out, that's not a bad deal at all. In fact, I'd do it myself if I had...well, any freakin' money whatsoever.
 
[quote name='Envy860']Put the credit on reserves, wait a week, cancel reserves, get ur credit turned into cash...done[/QUOTE]

Once you cancel your reservation, you get your refund in whatever you paid with. In that case, you'd just get your credit back.
 
[quote name='godhatesjustyou']Once you cancel your reservation, you get your refund in whatever you paid with. In that case, you'd just get your credit back.[/QUOTE]

actually that is not true because I had $13 store credit so I preorder BFBC2 and GoW III from GS and then I cancelled them and they handed ova CA$H :D
 
if you go into a bad gamestop they usually give you cash. when they had "bring in select game get $20 off immediate purchase" i took in fable 2 and oblivion at a place in the mall where i knew they would be scratched found games they only had 1 copy of, got dragon age and halo wars. walked around mall till saw new guy was there, showed him scratches. got cash. Try a mall in da hood :D.

also watch they deals they have. last 2 weeks you could get L4D2 for 28 with edge and cag16 online, and it was still selling to amazon for 31.

Also try this with games that just came out (they have mass effect 2 in stock online now) if they cost 50 used (online used price for $60 games) you can get them for 37 and should be able to sell a pretty new game for $40.

Final tactic, ask family or friends if they are going to buy games and to let u get them. "ill buy the $60 game for you, just give me 60 and don't worrie about tax CAUSE I R NICE" try saying that; sept with less sarcasm :D.
 
[quote name='Cheapass24']PSN CARDS. $20 in credit, go for $25 on ebay. If anything you actually break a profit.[/QUOTE]
what? why would anyone pay 25 dollars for a 20 dollar psn card?

am i missing something:whistle2:
 
[quote name='godhatesjustyou']Once you cancel your reservation, you get your refund in whatever you paid with. In that case, you'd just get your credit back.[/QUOTE]

Actually, they paid me back my $5 deposit on a few reserves I had(Darksiders, God Of War III) in cash. It depends on who you get and the amount you put down.

As for putting the credit up on Craigslist, I tried that and even though I was offering up $200+ in credit for $160 or so(about 30% off), I STILL had asshats offering me $50-60 for $200+ in credit.

I did finally sell it to the first person who seriously responded(but didn't have the cash at that point) and I sold the card for $160 with no hassles.:D

You just have to get lucky when posting that someone will realize the percentage off you're offering it for is a decent deal. However, even I would balk at a paltry 10% off of the credit.
 
Problem is that if you are losing money on the deal in converting the credit to cash (i.e. 25% off credit-to-cash conversion), as long as you can find games that you wouldn't be able to get more than 25% off elsewhere compared to GS, you're not gaining.

Seems like you won't easily be able to get away with less than around a 25% hit on the conversion. So if you sell your $60 credit for $45 and then buy a $45 game from amazon, where's the benefit in that vs. just buying the $60 game from GS using the credit in the first place? Also consider the time and hassle needed to sell the credit.

I understand the feeling though, man. I returned a Bioshock 2 CE to BB recently which I paid partly using a gift card. They gave me back the gift card (which I was bummed about because I wanted it to apply towards another item I bought along with the Bioshock CE) and the difference in cash. Since I had the gift card in hand, I had to get something, anything with it. I swear I walked around in that store for about an hour before I finally caved and got a 4000pts MS card. I just couldn't justify buying a new $60 game or even some of the other $40 or even $20 games when I knew I could readily get them elsewhere on amazon for cheaper.

Ruahrc
 
I'm in the same situation and want to convert a ton of GS credit to cash as I can't find anything to spend the credit on and I might as well convert to cash before I lose the cards. I'm considering pre-ordering a DS XL as that should easily give me a 1:1 return on the credit and most likely a profit. There is always more demand than supply at a system launch.
 
Just buy Psn cards or Live points and sell them at a discount they should sell fast. Just don't expect quick sales if you go $1/$1.
 
[quote name='blissskr']Just buy Psn cards or Live points and sell them at a discount they should sell fast. Just don't expect quick sales if you go $1/$1.[/QUOTE]

Id say the same thing but with World Of Warcraft time cards.

Those things sell pretty fast on ebay. And you could probably earn 85/90% on them. Or if youre patient enough even close to 100%
 
I was looking at the thread because I have the same question. But why couldnt someone use their credit to buy a used game, and then return it maybe a day or two later? Would they not give you cash back for your refund? I cant imagine theyd go into the system to add credit back instead of giving you cash.
 
[quote name='Nova_01']I was looking at the thread because I have the same question. But why couldnt someone use their credit to buy a used game, and then return it maybe a day or two later? Would they not give you cash back for your refund? I cant imagine theyd go into the system to add credit back instead of giving you cash.[/QUOTE]

Because you receipt will clearly said paid with credit, and they will give refund back as credit.

[quote name='demond dave']what? why would anyone pay 25 dollars for a 20 dollar psn card?

am i missing something:whistle2:[/QUOTE]

From oversea buyer who wants something from US PSN store but dont have an US CC. Same reason why Japanese point card would sell for a lot
 
[quote name='Nova_01']I cant imagine theyd go into the system to add credit back instead of giving you cash.[/QUOTE]
They look at the receipt to see what you paid with. If you pay with store credit, you get store credit back. You pay with cash, you get cash back. You pay with credit card, you get it credited back to your account. You pay a mix of those, you're going to get it that same way back. There's a chance the average lackey will screw up and give it all to one, but odds are they'll not know what to do with the two forms of payment in the first place and hand the register over to a key/manager.
 
[quote name='Skoad']They look at the receipt to see what you paid with. If you pay with store credit, you get store credit back. You pay with cash, you get cash back. You pay with credit card, you get it credited back to your account. You pay a mix of those, you're going to get it that same way back. There's a chance the average lackey will screw up and give it all to one, but odds are they'll not know what to do with the two forms of payment in the first place and hand the register over to a key/manager.[/QUOTE]

They only give cash back for small transactions, like $5.
 
Not when I worked there (just under a year and half ago). When someone bought a $55 used game with cash they got that cash back. It didn't get turned into store credit. It could easily be an individual store policy, but that's how it was for our entire district.
 
[quote name='62t']Because you receipt will clearly said paid with credit, and they will give refund back as credit.[/QUOTE]

That clearly makes sense, but is that what happens in practice? Is that assumed or is that something we know they do in that situation. Not to sound jerky or skeptical, I just want to know that its been tried.
 
[quote name='Nova_01']That clearly makes sense, but is that what happens in practice? Is that assumed or is that something we know they do in that situation. Not to sound jerky or skeptical, I just want to know that its been tried.[/QUOTE]

I tried returning something paid with store credit, and they return it as store credit
 
[quote name='help1']They only give cash back for small transactions, like $5.[/QUOTE]

That's why I should've probably put down $5 pre-orders on about 40-50 games and then staggered them week by week, month by month and as the games came out go back in and 'cash out'.:D

Every time I went back in to get a refund for a $5 pre-order, they handed me $5 CASH, even though I paid with $5 credit initially.:lol:

But it would've taken a loooooooong time to cash out $300-400 in credit doing it that way and after awhile I'm sure they would've caught onto my little scheme.:cry:
 
[quote name='JJSP']Buy a DS Lite. Sell it on eBay. You'll break even or come damn close.[/QUOTE]

The Ebay fees will kill it tho.... right?
 
Why not just buy a DSi, and then take it to Wal-Mart to return it without a receipt? They'll give you store credit, but then you could get that Xbox 360 Arcade with that gift card you were talking about. Or, just use the money for groceries, and then you could use the money that you WOULD have used for groceries for... well, anything.
 
[quote name='EvilAkana']Why not just buy a DSi, and then take it to Wal-Mart to return it without a receipt? They'll give you store credit, but then you could get that Xbox 360 Arcade with that gift card you were talking about. Or, just use the money for groceries, and then you could use the money that you WOULD have used for groceries for... well, anything.[/QUOTE]
Because that would be return fraud...
 
[quote name='blu_yu_away']Because that would be return fraud...[/QUOTE]

That's true. But, it's not like you're giving them a broken product or anything. They're just going to scan it and re-shelf it.
 
After the latest 60% trade in and the Best Buy Nerf games I am at $430 in credit that I would love to have cash before I leave for PAX this friday. I am going to attempt purchasing a FF 360 or something high and returning it to different GS in town to see how it goes. Worst case I get my credit back.
 
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