I'd use it for 1 Year of Game Pass Ultimate and then just put the rest toward: Final Fantasy 7 Remake, CyberPunk 2047, and Animal Crossing
-
Ever wanted an RSS feed of all your favorite gaming news sites? Go check out our new Gaming Headlines feed! Read more about it here.
$300 in Gamestop credit. Should I be concerned?
- Thread starter mindsale
- Start date
It's not uncommon that Retailers stop accepting gift cards and store credit as payment if they are liquidating
I think GameStop will hold out through til next year with a nice bump from the new consoles this holiday. I think you're fine.
And if they do start seriously clearancing everything out, then your credit has more buying power.
And if they do start seriously clearancing everything out, then your credit has more buying power.
Don't wait until it announced they gonna die, everyone will be cashing in their shit then and you'll have slim pickings to spend it on. If it like GAME in UK when they almost died, they'll stop selling PSN, Steam etc credit when it happens.
Every GS thread goes into that direction, sadly :/ Whether people still want them around or not, it's as if they magically are disappearing in a single day.
There will be "writing on the wall" for when trade credit is no longer going to be valid. you have at least a year and certainly likely more to figure out what to do with it.
What are you waiting for, exactly? Spend it. If you planned on using it for upcoming games, pre-order them using it and hope GameStop doesn't go bust (which they likely won't for a few months/a year, at least) before they're out.
I remember the liquidation of Circuit City, Comp USA, Blockbuster and several other major retailers, all of them accepted gift-cards and store credit right up until the end.
Gamestop's gonna be around for at least another 24 months. They're going to want in on that next gen launch.
Lol. Gamestop is already bringing down whole regional branches (Nordics) and it's just matter of days too, store closures are starting this Sunday and continuing next. (Closing as soon as they can end rental agreements)
They aren't seeing next gen as savior but as a killer.
Other countries are most likely just matter of time.
Probably depends on local law, might even be mandatory to do so (as is here).
Agreed - sell for hard cash or spend it for digital currency on a store you know you'd shop at. I'd do this sooner rather than later also!
idk, two in my city have closed in the last month or two (out of probably 10). it kind of sucks because apparently they're liqudating stuff on the store closings (stuff like a switch lite for $140, 1/2 off used games, etc), and everytime i get there its just funk pops or shelving.
if youre in a smaller town with only one or two nearby id cash out ASAP even if the franchise is still around when new consoles drop. atleast purchase amazon gift cards or something (if thats an option w/ credit).
Save it for next gen.
Unless coronavirus delays next gen. In that case I would buy psn/xbl cards with the credit.
Unless coronavirus delays next gen. In that case I would buy psn/xbl cards with the credit.
They did have over 5,000 locations, which is A LOT when you consider how many fewer stores other B&M locations have. Even having over 1,000 locations is quite a bit for many companies. Shuttering one region is not shocking if they just weren't making any money there.
I would buy £300 in xbox money, add it to my account and buy the new Xbox from the Ms store using that credit.
But more important is why gamestop is going from being profitable to not being...
OP
OP
I was considering buying a console or something, as those will likely hold their value better than some random software, but I think I'm going to hold out for next gen hardware and hope they don't shutter near me.
There are many problems yes, but paying leases for a clear abundance of stores (some in very expensive locations) does not help the company trying to save money.
To put into perspective, stores like Best Buy, although larger, have LESS than 1,000 locations. When you have 3 Gamestops in a few block radius, that doesn't really help. I've seen tons of Subways in my area close up too, and even though they are individually franchised, there was just way too many to compete with each other.
I think they'll be around in the fall but if you want to you can use it for Microsoft credit and use Microsoft credit to buy the XSX directly from Microsoft, i know sony has a store for consoles as well but i dont know if they accept psn credit, you could also just use it to buy psn or xbox credit for games. They used to let you buy amazon gift cards with store credit but not anymore.
It would be great to use it for new consoles but they might be gone by then. You might want to use it ASAP.
Use it. If they're downplaying their situation and are actually running low on cash, you don't want to get caught out if they put a freeze on store credit.
Don't know if this will work but:
Look up GME on google finance and go to financial data. They've had double digit declines in revenue, etc. Their cash on hand went from 1.6 billion in february 2019 to 290 million in november 2019. They are BURNING through cash because they can't produce a bottom line net income. On the route they're on now they could be in bankruptcy by the end of the year. It's coming, just depends on when.
Balance shee doesn't look any better when looking at quarterly information.
I do think Gamestop will be around until 2021 at the earliest, but I also wouldn't keep a ton of store credit around tied up in a preorder or gift cards. I had about 150 at the beginning of this year and used it to buy digital cards for psn xbox and eshop. I still have 60 in rewards I need to get rid of because that's what will get nuked first I'm sure.
I was going to use it towards PS5 or XSX but my concern about preordering is on the off chance they can't get stock or close the local store. It would be a pain dealing with it at that point.
I was going to use it towards PS5 or XSX but my concern about preordering is on the off chance they can't get stock or close the local store. It would be a pain dealing with it at that point.
Gamestop is years from closing its doors. Just look at Toysrus.
Before it shuts down, some private company will offer a buyout, then milk it for all it's worth by burning off its inventory. Gift cards should be fine before the buyout happens.
Before it shuts down, some private company will offer a buyout, then milk it for all it's worth by burning off its inventory. Gift cards should be fine before the buyout happens.
Last edited:
its been awhile, but if you have trade in credit, try to switch it to GS gift cards then get amazon GC if you can, some employees wont let you but some wont give a shit. if i remember correctly, you cant get GC besides GS with store credit but its been like years since Ive done it
I'd honestly save it for a new console or just blow it on steam currency or your preferred system. Either way is a good
Weighing up the pros and cons, I think most people would probably agree that the sensible option is 303 copies of The Black Eyed Peas Experience.
I have quite a bit of GameStop credit sitting around as well and I'm definitely waiting until next gen launches before using it.
