Video game retailer GameStop is streamlining the way it prices trade-ins, the company officially announced today, with the new program rolling out to stores on Aug. 18. The new scheme, GameStop says, will simplify how trade-in values are calculated and give consumers more money for their trade-in.
The announcement confirms previous reports on the revamped trade-in business.
GameStop says it will have just four trade-in price tiers — down from 10 price tiers — going forward. But those pricing tiers have some slight variations, depending on whether the customer doing the trade-in is receiving cash or credit, and whether they're a member of GameStop's PowerUp Rewards Pro program.
"A customer who is a PowerUp Rewards Pro member who sells a game valued at $20 for credit could get $22, whereas a customer who sells that game for cash and who is not a PowerUp Rewards Pro member would get $16," GameStop explained in a press release.
GameStop says it issued $1.2 billion in trade-in credit through its stores.