Here’s how to trade in your old electronic devices for a Costco gift card
Costco and Phobio have teamed up to create a gift card trade-in program for old electronic devices. Here’s how it works.
Costco and Phobio have teamed up to create a trade-in program where customers turn in old electronic devices and have the chance to receive a gift card to shop at the department store chain.
Generally speaking, anyone can go to Costco's web portal where they can select the model of the device they are looking to trade in, answer questions about its current condition, and get a quote for its trade-in value. Here we explain in more detail.
Here's how to get a Costco gift card for your old electronics
These are the steps to follow to obtain a Costco gift card, according to the company's official website:
- Go to Costco's trade-in program website in partnership with Phobio
- Select your device model, answer a few questions about its current condition, and you'll receive an estimate of its trade-in value.
- Print the shipping label or receive a box with prepaid shipping materials and packing instructions.
- Follow the instructions to erase your device, package it, and hand it to the courier.
- When Phobio receives your device at its inspection facility, your device will be erased and your trade-in will be complete.
- You'll receive either the Costco Shop Card or a digital Costco Shop Card loaded with the trade-in value.
What types of devices participate in the Costco and Phobio trade-in program?
The program currently accepts used Apple devices, including phones, laptops, tablets, smartwatches, desktop computers, displays, and media players. For Macs or iMacs, models must be from 2013 or newer.
How much cash can you get in the Costco trade-in program?
The amount you can receive varies based on the current market value and condition of the device.
According to Phobio's website, you can get up to $1,080 for a used Apple laptop. For desktop computers, you can get up to $1,025. For smartphones, you can get up to $750, and for tablets, up to $450.
On the other hand, for screens you can receive up to $400; for smart watches, up to $200, and for multimedia players, up to $40.
It can take up to three weeks to process your device for evaluation and receive your physical gift card. Getting a digital gift card is faster.
Costco prepares to raise the price of its memberships
While you don't need one to participate in the program, you may still want to continue shopping at Costco, so it's important to know that memberships will go up in price on September 1.
All Gold Star, Business and Business Add-On Card members will pay a $65 annual fee in the United States and Canada. On the other hand, annual fees for Executive Memberships will increase from $120 to $130 ($65 primary membership, plus $65 Executive Membership upgrade). While the membership fee may be going up, additionally, benefits for executive-level members will be greater.
Executive Membership offers even greater savings, as well as a 2% annual reward on qualifying purchases. To qualify, you must first have a Gold Star Membership ($65) and then upgrade your account (plus $65). Those with an Executive Membership will see a higher maximum annual reward, as it will increase from $1,000 to $1,250.