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Pro tip: Coinstar wont take a cut if you get it as a gift card. The times I've used them I just opt for an Amazon Gift card or one for the local grocery chain t
by tomschlick 6y ago
Pro tip: Coinstar wont take a cut if you get it as a gift card. The times I've used them I just opt for an Amazon Gift card or one for the local grocery chain that I'm already going to be spending money at.
- ilikepi 6y agoThat's great for Amazon, and for people who shop at Amazon...
- tomschlick 6y agoRight, so > 75% of online shoppers... https://www.cnbc.com/2017/12/19/more-than-75-percent-of-us-online-consumers-shop-on-amazon-most-of-the-time.html https://www.cnbc.com/2017/12/19/more-than-75-percent-of-us-o...
- pxx 6y agoThat's, uh, taking a cut, albeit a smaller one. You'll lose the cashback or other rewards that you would've gotten for using a credit card. Gift cards can also commonly be obtained for under face value.
- ljf 6y agoIf you don't have a bank account then it is a good deal to change for free. I doubt those without a bank account have credit cards with good cashback deals.
- bobbean 6y agoWhere does Coinstar's cut come from then? Wouldn't they be giving back the same amount you put in?
- forgotmypw17 6y agoThey probably get a referral fee from Amazon or whoever redeems the gift card.
- umeshunni 6y agoGiftcards are typically sold to retailers at a discount (i.e. Amazon sells $100 gift cards for $95 or something).
- AtomicOrbital 6y agono, the machine takes the cut by giving you back less than you put in
- loco5niner 6y agoBut spending coins doesn't give you cash back rewards either.
- LorenPechtel 6y agoYup. Last year I got rid of a whole bunch of coins that were lying around. I took it as a gift card for the local hardware, then went over to the hardware and spent the money.