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Following last month’s announcement that Toys R Us was going out of business, we let you know that their gift cards could be used in store up to April 13, 2018.
There’s less than two weeks until that deadline, but you now have an alternative if your local Toys R Us store doesn’t have any stock worth buying.
Bed Bath & Beyond has teamed up with Cardcash and is offering to buy your unwanted Toys R Us gift cards. There are a few important things to know about this offer:
- Thursday April 5, 2018 at 11:59pm EST is the last day they’ll buy your unwanted Toys R Us gift cards.
- The minimum value has to be $20.00, although partially used or uneven balances will be accepted.
- They’re only offering a payout rate of 64.2%.
Three months ago, a payout rate of 64.2% for a Toys R Us gift card would’ve been terrible, especially seeing as it comes in the form of a Bed Bath & Beyond gift card rather than cash.
However, times change and I think this is your only liquidation option for Toys R Us gift cards, other than using them in store (unless you have a private buyer.) If you’re not able to use your cards in store, this is a limited-time opportunity to cut your losses.
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The liquidation FAQs on the Toysrus Website says gift cards can be used until April 21. I’m not sure much good stuff will be there by then.
As for the mystery swapper of gift cards, given the low payout and the discounted Bed and bath cards you would get, that’s a large enough discount to make a profit on anything!
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I am curious what the people buying the gift cards will do with them? Use them by April 13th? Is there some what for them to get cash out of Toys R Us in a lawsuit or something? I would suppose not during a bankruptcy. It’s interesting to me.
I was curious about that too. My guess is that they have a buyer lined up who plans to use them in store by the 13th seeing as they’re not buying any of the cards after the 5th.