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PSA: Spend your leftover Gamestop credit ASAP


#1 Sugarbeats  

Sugarbeats

Posted 21 March 2020 - 03:39 AM

There may be no GameStop in a short few weeks. Cash out any trade in credit and cancel all pre orders.

#2 now1   Banned Banned   200 Posts   Joined 13.8 Years Ago  

Posted 21 March 2020 - 03:40 AM

I need final fantasy April 10th

#3 BryanDGAF   CAG Veteran CAGiversary!   1188 Posts   Joined 8.3 Years Ago  

Posted 21 March 2020 - 03:42 AM

What is your source aside from the stock market shitting the bed. Why wouldnt the credit be valid the day they announce? I'm sure they would give a date when it's no longer valid

#4 gospelman   Irreducibly Complex CAGiversary!   2794 Posts   Joined 11.1 Years Ago  

Posted 21 March 2020 - 03:45 AM

This, in my opinion, is poor speculation.

 

Side note:  The several gs's in my area are absolutely making bank right now.



#5 cleaver   You have 0 friends CAGiversary!   3667 Posts   Joined 16.4 Years Ago  

Posted 21 March 2020 - 03:48 AM

They’re literally forcing employees to keep stores open I can’t believe they’ll have any issues short term

#6 Das_Regal   oh god CAGiversary!   1131 Posts   Joined 10.7 Years Ago  

Posted 21 March 2020 - 03:49 AM

They're telling their employees that they can't close because if they do, they might not re-open, and they're *going* to close temporarily. Their claiming to be essential is bullshit. It isn't going to last.



#7 Omni99  

Posted 21 March 2020 - 03:51 AM

This, in my opinion, is poor speculation.

 

Side note:  The several gs's in my area are absolutely making bank right now.

But will that bank make up for the entire States they are being shut down in?



#8 Smithers123  

Smithers123

Posted 21 March 2020 - 03:52 AM

They’re literally forcing employees to keep stores open I can’t believe they’ll have any issues short term

I'd also be worried depending on how much credit you have left there.

 

If you look at travel agencies going bankrupt they’re not even honoring reservations before they officially declare bankruptcy. Customers are having to foot the bill twice! Once company goes under they stop caring what so ever. Especially given how cut throat GameStop management has proven to be.



#9 wackfiend   CAG Veteran CAGiversary!   50 Posts   Joined 15.0 Years Ago  

wackfiend

Posted 21 March 2020 - 03:52 AM

Even if GameStop stores close down amid the COVID-19 response, even if they do not recover financially afterwards, the company won't just vanish overnight. Look at what happened with Toys R Us. it was announced the company was going under and the stores began liquidating at increasing discounts.

 

Don't rush out and spend all of your credit now. Assuming GameStop is going out of business, wait until they start discounting everything.



#10 Das_Regal   oh god CAGiversary!   1131 Posts   Joined 10.7 Years Ago  

Posted 21 March 2020 - 03:53 AM

The second they start going out of business, they aren't going to sell digital content anymore. It's just going to be old used hardware and games, most of which will vanish quickly. If you have a lot of money in GS credit, you're best off converting it to digital currency now while you still can.



#11 Omni99  

Posted 21 March 2020 - 03:59 AM

Even if GameStop stores close down amid the COVID-19 response, even if they do not recover financially afterwards, the company won't just vanish overnight. Look at what happened with Toys R Us. it was announced the company was going under and the stores began liquidating at increasing discounts.

 

Don't rush out and spend all of your credit now. Assuming GameStop is going out of business, wait until they start discounting everything.

And when Toys R Us was going out of business, there wasn't much left to buy at the end. I wouldn't trust there will be much left with everyone in a rush to spend what credit they have left.



#12 jrr6415sun   CAGiversary! CAGiversary!   3051 Posts   Joined 9.3 Years Ago  

jrr6415sun

Posted 21 March 2020 - 04:01 AM

Even if GameStop stores close down amid the COVID-19 response, even if they do not recover financially afterwards, the company won't just vanish overnight. Look at what happened with Toys R Us. it was announced the company was going under and the stores began liquidating at increasing discounts.

 

Don't rush out and spend all of your credit now. Assuming GameStop is going out of business, wait until they start discounting everything.

I highly doubt gamestop will do what toysrus did. Their stores will already be closed, they're not going to reopen just to get rid of their inventory. They will just liquidate it to some other company. Your credit will be worthless.



#13 Squarehard   Nyaa~ CAGiversary!   21186 Posts   Joined 12.7 Years Ago  

Posted 21 March 2020 - 04:02 AM

Oh, well, if you say so then it must be true.

 

RIP Gamestop



#14 Das_Regal   oh god CAGiversary!   1131 Posts   Joined 10.7 Years Ago  

Posted 21 March 2020 - 04:03 AM

They're already a joke. I have points I can't redeem and I've been talking to their support people for almost 4 months about it now. Literally they screwed up my december join bonus -- it took me a month to get them to give me points to make up for it, and now I can't use them. It just errors every time. :)

 

p.s. if anyone has any suggestions on getting reward redemptions to work, I have tried literally everything.



#15 Sugarbeats  

Sugarbeats

Posted 21 March 2020 - 04:08 AM

The second they start going out of business, they aren't going to sell digital content anymore. It's just going to be old used hardware and games, most of which will vanish quickly. If you have a lot of money in GS credit, you're best off converting it to digital currency now while you still can.

I feel bad for the employees working there because its damned if they do or don't. Its like sure, its good idea to shut down the stores due to virus, but man they are going to be f***ED because you bet your ass the people working at Gamestop are living paycheck to paycheck and now gonna be missing money.
 
We're going to see a lot of unemployment and homelessness in the next following months...


#16 Das_Regal   oh god CAGiversary!   1131 Posts   Joined 10.7 Years Ago  

Posted 21 March 2020 - 04:09 AM

And then there's this:

 

https://preview.redd...118b28c74092f06

 

From: https://www.reddit.c...stops_business/



#17 DANIEL   DANNY FAKnTASTIC CAGiversary!   1355 Posts   Joined 16.1 Years Ago  

Posted 21 March 2020 - 04:11 AM

"GameStop to close all California stores indefinitely"

https://www.theverge...ite-coronavirus



#18 evil4life   CAG in Training CAG in Training   24 Posts   Joined 8.0 Years Ago  

evil4life

Posted 21 March 2020 - 04:12 AM

if they were truly desperate they would have pulled another b2g2 deal already



#19 Das_Regal   oh god CAGiversary!   1131 Posts   Joined 10.7 Years Ago  

Posted 21 March 2020 - 04:14 AM

 

I feel bad for the employees working there because its damned if they do or don't. Its like sure, its good idea to shut down the stores due to virus, but man they are going to be f***ED because you bet your ass the people working at Gamestop are living paycheck to paycheck and now gonna be missing money.
 
We're going to see a lot of unemployment and homelessness in the next following months...

 

It's true... Best you can do as a gamestop employee that's supporting themselves and needs the money? Keep going until the stores are forced to close. That way when congress gives out some supplemental income you won't be marked as having quit your job. You probably don't have health insurance, so good luck taking care of yourself when you get sick...



#20 TimPV3   I don't play games, I play GameStop CAGiversary!   3035 Posts   Joined 15.5 Years Ago  

Posted 21 March 2020 - 04:14 AM

ToysRUs honored giftcards for 6 months after filing for bankruptcy. Why do people think GameStop will just close up and their inventory and fixtures will magically disappear? It's 2020, why are we this stupid?

 

They're telling their employees that they can't close because if they do, they might not re-open, and they're *going* to close temporarily. Their claiming to be essential is bullshit. It isn't going to last.

They're saying that to explain why they're staying open, when it's really just to make a shitload of money from schools being out and AC/Doom. There is no way that closing for 2 weeks while not paying employees is going to put them out of business. They would've been doing worse without the coronavirus.



#21 Das_Regal   oh god CAGiversary!   1131 Posts   Joined 10.7 Years Ago  

Posted 21 March 2020 - 04:15 AM

It's going to be longer than a 2 weeks close.



#22 now1   Banned Banned   200 Posts   Joined 13.8 Years Ago  

Posted 21 March 2020 - 04:15 AM

I have a wife and child, GameStop can’t close

#23 TimPV3   I don't play games, I play GameStop CAGiversary!   3035 Posts   Joined 15.5 Years Ago  

Posted 21 March 2020 - 04:17 AM

It's going to be longer than a 2 weeks close.

Every other non-essential retailer is going through the same situation, but spending money paying employees. I do agree it'll be more than 2 weeks, though.



#24 SKEETER   YOU GOTTA DEAL WITH IT! CAGiversary!   644 Posts   Joined 14.7 Years Ago  

Posted 21 March 2020 - 04:19 AM

They're already a joke. I have points I can't redeem and I've been talking to their support people for almost 4 months about it now. Literally they screwed up my december join bonus -- it took me a month to get them to give me points to make up for it, and now I can't use them. It just errors every time. :)

 

p.s. if anyone has any suggestions on getting reward redemptions to work, I have tried literally everything.

I had the same problems using desktop then I tried it on my phone and it finally worked.  I don't remember if it was the mobile site or the app though and I redeemed all my points so I can't test it again.



#25 jonathansmith369   CAG Veteran CAGiversary!   169 Posts   Joined 9.1 Years Ago  

jonathansmith369

Posted 21 March 2020 - 04:21 AM

I have a wife and child, GameStop can’t close


Sorry but I don't think GameStop is going to give you much in trade in for either one.

#26 Derrick1979   I think I've been here to long ! CAGiversary!   5925 Posts   Joined 14.2 Years Ago  

Derrick1979

Posted 21 March 2020 - 04:21 AM

Is this deal YMMV?



#27 Das_Regal   oh god CAGiversary!   1131 Posts   Joined 10.7 Years Ago  

Posted 21 March 2020 - 04:47 AM

Every other non-essential retailer is going through the same situation, but spending money paying employees. I do agree it'll be more than 2 weeks, though.

1) Operating costs don't go to zero even when you close your physical stores. You have to keep paying rent and other obligations, such as interest on debt.

2) Gamestop has a 1.9 debt to equity ratio, meaning they owe about double what they're worth. The stock market crash was the needle that broke the camel's back. This is pretty much the inflection point of a doomed company.

3) They were basically counting on a next-gen launch to save them, which will probably be delayed or at the very least significantly disrupted.

 

They were already on thin ice, this is probably the death knell and they don't really have a justification to beg for a bailout considering they were fucked before this.



#28 cleaver   You have 0 friends CAGiversary!   3667 Posts   Joined 16.4 Years Ago  

Posted 21 March 2020 - 04:51 AM

I have a wife and child, GameStop can’t close

https://www.youtube....h?v=MEWniG991O0

#29 Count Van Ghoul   Past The Mission CAGiversary!   1157 Posts   Joined 16.9 Years Ago  

Count Van Ghoul

Posted 21 March 2020 - 04:57 AM

I have a wife and child, GameStop can’t close

Are they the 500GB or 1TB models?

#30 Omni99  

Posted 21 March 2020 - 04:59 AM

"GameStop to close all California stores indefinitely"

https://www.theverge...ite-coronavirus

It's indefinite because they have no idea when they will lift these orders. But if the employees all go on unemployment they won't have any staff to reopen the stores with I would assume.