‘Best Buy might payout more’: Shopper reveals how you can get Costco gift cards by trading in your old iPhone, iPad devices
In the technology age, it's no secret that many folks have made an investment into personal devices like laptops and tablets.
Folks who might have an extra device or two laying around might wonder if they could quickly liquidate these small assets, which can sometimes have immediate sale or trade-in value of hundreds of dollars.
Finance content creator Ravi Wadan (@raviwadan on TikTok) is sharing one way consumers can get more value out of devices they no longer use through a trade-in program available through Costco.
How to trade-in old devices for Costco gift cards
In a video that has drawn over 417,000 views on TikTok, Wadan demonstrates how someone who is looking to sell an iPhone they no longer use might be able to trade it in to retailers like Costco for a gift card
@raviwadan Awesome Costco Tip - Turn your old phones, tablets, laptops, and smartwatches into a Costco gift card! #costcodeals #costco #costcofind #costcodoesitagain #moneymakingideas #moneysavingtips ♬ original sound - Ravi Wadan (Finance Education)
"A lot of people don't know this, but on Costco.com you can actually trade in your old laptop, tablet, phone or even your old smart watch and get a Costco gift card in return," he says in the video.
"Let me explain. So I'm on Costco's website and they have this trade-in program powered by Phobio," Wadan shares. "And all you do is scroll down, click on 'Start your trade in,' click, 'Visit external link,' and it's going to take you to this page. And all you're going to do is enter your device information."
The example he provides is a newer iPhone that is only a couple of years old—a very likely scenario for folks looking to have updated and upgraded technology.
"As an example, let's say I have a 128GB iPhone 14 Pro Max on T-Mobile," he says.
The website shows that Wadan would receive up to a $460 Costco gift card if the phone meets their requirements.
"And the requirements are straightforward," he explains. "As long as your device powers on, it functions properly, and it's in good physical condition, you'll be able to get the $460 as a Costco gift card. So if you have extra laptops, tablets, smart phones, or smart watches laying around, the trade-in program on Costco.com powered by Phobio is definitely something to consider."
The Daily Dot has reached out to Wadan via email regarding the video.
Are there better deals out there?
Depending on the condition of your device, how old it is or even what you intend to get out of a trade-in, there might be a program that is better able to meet your needs.
For example, if you simply want to upgrade your phone, many mobile carriers are offering a trade-in deal for a variety of smartphones that could net you a lower overall monthly payment than if you were to simply add the new phone to your plan without a trade-in.
Large retailers like Apple, Amazon, and Best Buy also offer similar programs, with some leading to a cash or gift card credit, or credit towards the purchase of a new device.
What it boils down to is the type of outcome you are looking for out of trading in a device.
Viewers weigh in
Several viewers shared that they had tried to use such programs in the past, with varying levels of success.
"Best Buy might payout more," one commenter wrote. "I checked and got $200 at Best Buy and Costco will only be $145."
"I usually trade in at samsung canada," another suggested. "They run trade in promo on broken devices too and get a lot of value for it. if anyone looking to get samsung stuff."
"You have to mail your devices in and wait 3-5 business days before you even get approved or if they want it," a commenter wrote.
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