In the digital age, it's easy to upgrade electronics and then put the old device in a drawer for "just in case" — but now it's time to clean out the old tech and trade it in for a Costco gift card.
The best part? You don't have to be a member to use a Costco Shop Card, the gift card you'll receive for trading in electronics. If you've been thinking about getting a Costco membership but want to try it before you buy it, this is a great way to clean out your old tech and save money on groceries.
Talk about a great Costco shopping hack ! Learn how it works and what devices will score you the best return.
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1. What devices are accepted
The program is currently promoting Apple devices, but other major tech competitors, such as Samsung, Motorola, LG, and more, are also accepted. They accept phones, tablets, laptops, desktops, smartwatches, display monitors, and media players.
Own a car? Here's 7 warning signs you're paying too much for car insurance. 2. Different phones, different values
The price varies based on model, condition, and other factors. Phones can fetch up to $750 for the latest iPhone with the maximum storage space. The prices drop as the models age, and Apple products have the highest trade-in values.
To find out how much your old devices are worth, simply plug the make, model, and condition into the form available through Costco, and an estimate will be provided. If you like the price, you can print a shipping label or receive a ready-to-ship box—either way, you won't have to pay for shipping.
3. How long does it take
Once you ship off your old electronics, they can take up to three weeks to be evaluated for a final price. If you choose to receive your Costco Shop Card in the mail, it could take 20 additional business days to receive it. Choosing a digital card could speed up the process for those anxious to go shopping.
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4. A partnership with Phobio
The program isn't run directly by Costco but instead is a partnership with Phobio, meaning you don't have to go into a Costco to complete the trade-in. It's done entirely from home, and even the gift card can be used through the website, so you won't have to leave the comfort of your home unless you want to go shopping in-store.
Bottom line
If you've been saving the packaging your electronics came in, there is finally a use! Original packaging can slightly increase the value of your trade-ins.
Waiting until just before a new model is released can also increase the value of your trade-in, as the prices tend to increase to encourage consumers to switch to a new device. See how much your old tech is worth by visiting the official Costco website and filling out the quick and simple form.
If you're looking for other ways to make quick cash, check out these side hustles that let you earn extra income without risking your full-time job.
Money tips that can work for everyone
No matter what your bank account balance is, there's always an opportunity to optimize and improve your finances. Here's a quick checklist of things you can look at today.
Focus on paying off your debt . Debt can hold you back from making progress with your overall financial well-being. Aside from cutting expenses, there are tools that can help you pay off debt faster like balance transfer credit cards and debt counseling.
Earning extra income can give you breathing room. If finances are tight, earning some extra money to supplement your income can make a huge difference. A new job is one option to consider, but if you're not ready to make a big change or already retired, a part-time side job could be a better choice.
Cut your expenses. It sounds painful and so not fun, but it doesn't have to be. Take a look at your biggest expenses because that's where you'll probably find the biggest savings. For example, auto insurance rates have been soaring so shopping around for a new insurance company can be the fastest way to cut your bill. Also, look for ways to cut your grocery bill (despite rising inflation).
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