Introducing Credit Selling on Listia

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We’re always working hard to make Listia the best place for you to unlock the value of items around your home. It’s never been easier or more fun to simplify your home and life while getting the things you actually want. Today we’re excited to introduce the biggest addition to Listia since our iOS and Android apps. We’re now allowing you to sell your credits to other members!

What does this mean for you?
This means that you’ll soon see more items that you want on Listia as our members start listing more goods, you’ll see higher-value items in the marketplace and most importantly you’ll be able to earn more on Listia.

How will this work?
Very easy. Through an exchange (much like a stock exchange), sellers list their credits at rates they choose, and when others buy credits, Listia links up the seller and buyer anonymously, and both money and credits change hands.

Buyers in the exchange are the same people who have been always been purchasing credits. Payment is then sent to the seller’s connected Verified PayPal account. Listia handles the entire process which means once your credits are sold, they are sold. You don’t have to worry about any disputes and there won’t be any refunds available on credit sales. Only credits received for successfully selling items on Listia can be sold in the exchange, so you won’t be able to sell credits that you bought or received for free through other means like offers and promos.

When I sell credits, how will I get paid?
We deposit the net proceeds from your credit sales into your Verified PayPal account that you’ve connected to your Listia account. The deposits are made as your credits (or portions of your credits) get purchased from you by other users. Both the sale and purchase of credits are completely anonymous. Because a single sell order may get purchased in multiple portions, you may see more than one deposit in your PayPal account for a single order.

When can I try this?
Initially, this feature is slowly rolling out to our higher volume Trusted Sellers. If you are not yet on the waitlist, visit the Sell Credits page to see if you are eligible.

Whether you want to trade with other members, buy items for your home and life or get cash for your goods, we want to make Listia the best and friendliest place you go. Support for credit selling on iOS and Android is in the works and will be coming soon. Visit our FAQ page to learn more about credit selling and sign up today to start selling credits!

Comments

  1. this seems counterproductive…the credits asked for items listed will skyrocket…some are ridiculous for the real value now

    • I agree Joe, The credits that people want are ridiculous since Listia made it cheaper to buy them. Free free free, I think not if you want something worth anything.

    • That’s because listias credit to $ is about 6300 =$ 1.00 ……that’s just crazy! It use to be 1000 =$1.00 many moons ago

      • Do you remember the cruises that you could buy for a million credits? *sigh* Methinks the staff is getting GREEDY at the expense of those people who don’t realize yet that they’re eating postage costs for anything less than about 30,000 credits. We all already spent way too much on their cyber week.

      • it wasn’t even many moons ago nancy. then people started bidding crazy amounts for gift cards and that brought down the credit value. i got a brand new ps4 from the rewards store for 350k in credits. now it would cost me millions. the worst part is, i was saving credits but they depreciate faster than i can save them. really stating to think about leaving for awhile…

      • ListiaUser2016 says:

        Listia was good back when it was $1.00 for 100 credits I think it was 2013-2014! And within 2 years they completely fucked the site up! Now the little people can’t do a goddamn thing! I do small auctions and I was saving my credits to get a Xbox One when it came out then had to leave for 6 months due to not having internet and when I came back to the site a Xbox One was 5,000,000-7,000,000 and 3,000,000-4,000,000 for Xbox 360

        I honestly don’t see Listia lasting pass 2017 they will be forced to shut down when they lose all their loyal users because of the credit inflation

    • They have ruined Listia.

      • At first I thought the idea of being able to sell some of our credits was a good idea but now that the price has gone out of site I can’t afford to buy credits anymore and biding on something is just outrageous. I loved Listia for the prices but now it is hard to list something for sale at a reasonable price. I don’t know how much longer I will be able to buy and sell on here if they don’t do something about it.

        I loved Listia up until now.

    • darth_rageous says:

      I agree wholeheartedly…I left “fee-bay” for the reasons of inflation and overcharging; only to return because it got out of hand here. I regarded Listia as a free-site & did some trades here before everything got greedy. It’s sad, really. I like a barter system like Listia once had where credits were an earned suggestion; not a currency…for crap’s sake, this isn’t Bitcoin, people!

    • I agree the credits are going nutts and skyrocketing..
      Right now is 8200 for 1 US $1 its cray nutts.
      It looks like I wont be on Listia long…

      • You are correct, I have stopped selling items on Listia I hope the inflation stops.

  2. If it says, “not yet eligible; 499,000 credits in the last month” do I have to start over to reach 500k in a month, or just list one more item?

    Wondering how this is going to shake out and if it will end up diluting points hyper-inflation style…

    • ericklistia says:

      It is on a rolling 30 day basis. So as long as you have sold 500K in credits in the last 30 days you will be eligible.

  3. What are you doing??? I agree with Joe. seams the little guy gets burned again. I thought this was a good site till they changed it and WHY would we want to sell points we really bought with free shipping. THEY need to RETHINK this

  4. I have mixed feelings on this. It could be GREAT as I won’t have to constantly buy things to resell on eBay as I do when I want to get rid of credits currently, but I do think inflation is going to skyrocket. It’ll be interesting to say the least. I just hope Listia doesn’t go the way of Goozex. It’s currently my favorite place to buy and sell.

  5. I notice that the example shows that Listia is taking a HEFTY commission on these sales. I don’t think it’s going to take off. Why would I sell credits for, say, 8000 to a dollar and have Listia take a huge cut when I can sell an Amazon gift card and get 12000 points to a dollar?

    • Scrooge, they do take 20% currently which is really steep but it does include any Paypal fees so there’s that good part. So far I’m liking the feature a lot though and I’m happy to have it. What they didn’t mention (at least I didn’t see it here) is that any credits you get from the sales of gift cards or bitcoin sales do NOT count towards the cashout credits, so they’re separate tears. This should help to keep inflation at least a little bit lower.

      • Do you by any chance no how long the waiting period is to be on the wait list to sell credits? I have asked on this blog 2 times but nobody seems to be able to respond to my question

  6. just wondering when the program starts if it hasn’t already? im on a waiting list it says. just curious to find out what its like. thanks!

  7. What has happened to the Reward Store? Is it coming back? Just wondering…. The bids are so ridiculously high I never win anything.

    Why couldn’t Listia keep 1000 credits = $1? It kept things simple. The auctions are getting out of hand. I want to use my credits and go to another site.

  8. Debby Coleman says:

    If there wasn’t a reason to bail before, there is now…..

  9. asdfgy2003 says:

    Where’s my wedding Cake !

  10. Lucinda baket says:

    Why can I no longer buy credits with my pay pal credit line makes no sense looks like I will be using listia alot less and I’ve put alotnof money into listia looks like that will be stopping it shouldn’t matter how u buy credits as long as your getting paid for them.

  11. 6,900 Credits per US$1
    I think it’s beginning of the end
    Next month it will be like 10,000 Credits and so on. without control

    A lot of people register multi-accounts, they create an inflation. On other way Listia’s developers do not take into account the situation.

    Neglected by Listia, good sellers will leave.

    • AUNTIE EM says:

      Yes, I agree. I have been a good seller for years and changing the value of credits hurts the long term Listian. When I started 1000 credits = $1 and my auctions reflected that. So now I have 262,000 credits which, to me, are worth $262.00. Right now, the bid on a $25 Amazon gift card in the Rewards Store is at 250,000. I will try (I say try because bids are so ridiculously high now) to use my credits and get out. Listia, you need to decide on a system and stay with it!!!!

  12. here is the problem. right now the credit to $ ratio is about 6700 credits equal $1. of course i am gonna want my credits to sell first, so to beat the other credit sellers, i will sell 7000 credits per $1. of course the next guy will want his credits to sell, so he will do better and give you 7500 credits per $1. then i will not like, that my credits are just sitting, so i will sell 8500 credits per $1……and so on, and so on.

    i have been on here for over 2 years. i have over 2000 transactions and NOT 1 negative feedback. i remember when the rewards store, was more like a store. 1000 credits = $1. i started saving up for a large purchase, but the credit value sank so fast, i couldn’t keep up with the credit price rise of the item i was saving up for.

    rather than letting the marketplace determine the value of a credit, listia should put a value in place. that way listia can fight inflated asking prices and put a stop to the sinking value of the credit. just saying…jim

  13. the other issue that we are facing is the cost conversion of shipping. i offer free shipping on all my auctions. i try and use flat rate or 1st class to save money. of course now if i was to ship something in a small flat rate box, $5.25, i got to get 35000 credits just to cover my shipping costs. just to much. doesn’t make sense to me any more. i did it because it was fun and cheap. now it is costing me to much to saty. time to pack up the bags and move back to EBAY.

  14. I am able to sell my credits and it helps to be able to get cash now.

    BUT – WHY ARE YOU PEOPLE LISTING YOUR CREDITS SO HIGH????

    don’t you want to make cash or do you just want to be the best credit seller?

    You are messing it up for everyone else!

  15. This new Listia’s system is really sucks.
    We need flat rates on credits per dollar not a skyrocket bobble.

    The inflation is continuing to increase. I’m only wonder why Listia is trying to destroy an economy of marketplace. What is the point of this? Or am missing something here?

  16. To Listia:

    Problem: Listia credits are rapidly declining in value. As recently as 3 months ago, $1 USD was equal to about 1250-1500 credits. At the time of this writing, it has been FURTHER devalued to $1 USD : 7500 (and devaluing more and more each day!)

    I like this idea of a credit exchange, but it will only compound the problem the way it is currently being implemented. Mostly, because CREDITS are infinite (on Listia’s end)– they should be replaced with a FINITE ‘currency’.

    Solution: DUMP the credits, and create a LISTIA-specific altcoin (like bitcoin) for use here. Hell, they could still be called ‘credits’ , and the average user would be none-the-wiser. I can create a new alt coin in an afternoon (so I know Listia has to be capable of doing so for use here). A predetermined limit can be created, and then instantly mined (say; 10,000,000,000 coins [credits]- and instantly issued to each user in place of their current credit amount).

    What would this achieve?

    Listia could not just pull infinite amounts of credits out of the ether. They could still still sell credits, and have an exchange- but if people KNOW there is a finite amount of credits (the 10,000,000,000 premined)- and that there can be NO MORE ever generated; their value would increase — indefinitely.

    This is similar to the ‘gold standard’ of days past– where no more CASH could be generated than GOLD in the reserve. It DIFFERS from bitcoin- in that ALL of the coins would be here NOW for use and distribution- with no further coins [credits] to be mined in the future.

    I don’t know Listia’s numbers– per credits awarded for surveys, offers, new membership, and the like (adjustments may have to be made, to ensure that they have credits on had to distribute for these things, that are the backbone of THEIR economy on here); but it CAN be done! They already CHARGE credits for some listings, features, and perks– so they are ALWAYS certain to have coins [credits] on hand to be able to maintain those new member/offer/survey pays!

    ** Please note, that if Listia starts doing this- it’s my idea- and I want my cut! Haha- heck, I could get them started on this TODAY– and had I the time and inclination, I’d start my OWN page- and do this myself– because this really is the ONLY way to INCREASE the value of credits, while keeping an open exchange on Listia. That’s my 2 cents anyway….

    Think about it.

    • There are alot of sellers on Listia who list a $100 gift card for 1.5 Million Credits and then turn around and spend just 1 Million credits in the Listia store for a $100 Amazon Gift Card. This is why Listia Credits are being devalued fast. Go and do your research. I did mine, That is why once I earned credits, I spend it ASAP. I’m not going to loose $$$ holding onto the credits.

    • I don’t think that’s a very good solution. “Dumping” the credit system will be completely unfair to the users who have worked hard to earn credits. Not to mention the terrible feedback Listia would get from it.
      Also, having a “finite” currency makes it hard for Listia to sell credits and reward people with goals, tasks, referrals, etc.
      Personally, I think a better solution would be for Listia to tone it it down with how many credits they award for goals and tasks. For example, every Saturday, Sunday, and Monday, Listia gives the daily goal of 1000 credits for listing 4 free shipping listings with pics, regardless of whether it sells or not, for a total of 3000 credits. If they made it a single goal of 3 days (or got rid of two of those days, same thing) that would decrease the amount of “free” credits given out by lot.

      • The casual user wouldn’t know the difference (the credits would be the same– this is mostly a ‘behind the scenes’ apparatus they could implement to make the credits FINITE); an understanding of how cryptos works would be required to fully grasp what I’m proposing here.

        My wife and I are also on the wait list– approved and ‘added’ 1/1/2016.. it’s been almost 2 months! Totally ridiculous…

  17. I’m hoping to recoup my shipping cost by selling credits. To get decent bids you have to offer free shipping which is at a killer cost over time. Now I’m eligible to sell credits just wondering when I can actually start selling credits. Biting my nails while I wait to go from waiting list to actually selling of credits. FREE SHIPPING is killing me. Listia suggested I do a mixture of free and not free shipping. I did and the not free shipping auctions did not go well.

  18. how long is the wait on the waiting list before you can start selling credits, Im on the waiting list, and Im like most of you trying to recuperate from shipping costs. Anyone know?

  19. The fee is way too high at 20%. The PayPal fee is only 2.9%+$0.30. You’re charging 17% for the service? That’s way too much in my opinion. 15% would also be too high. Lower it to 10%.

  20. How long have you guys been waiting on the wait list to get accepted? How long did it take?

  21. Brenda Lohman says:

    I absolutely LOVE this new feature of being able to sell your credits. I can now easily finance my shipping charges. It makes it all worth it!

  22. Headed back to feebay says:

    IF the 17% that Listia is making was to shrink the number of available credits, that would be fine. Today, credits are selling for 8.5. That nets a seller of 100,000 a little over $9. People want free shipping, but want to bid what their credits cost them. I’m so sad that I held on to credits thinking I was going to buy something good with them. They’re worth a quarter of the value I paid for them just 6 months ago. Greed kills. The site is headed away unless they find a way to stop the devaluation.

  23. I loved Listia for the prices but now it is hard to list something for sale at a reasonable price. I don’t know how much longer I will be able to buy and sell on here if they don’t do something about it.

  24. 8200 credits to the dollar today. 6500 4 months ago. This is bad.

  25. 8400 today. Spending mine quick and then back to feebay (maybe that was the plan?). Do you guys at Listia have absolutely NO idea who your base is and how to treat them? Grow up.

  26. Selling credits is killing listia. Value of the credits is dropping about 2% per day. Ill see 1Milion credits for 5$ soon

  27. Stacey Petrikas says:

    Please, please, please limit the credit inflation Listia! I buy and list nice things to put on the site. I set a GIN for these items based on current credit rates on the day that I list the items, but by the time I actually sell the item, I take a loss due to the credit values changing by 100’s or even 1000’s of credits per dollar. I can’t keep on listing nice things at a loss.

  28. Right now the credit value is $1/10,400 and still seems to be rising. That is absolutely ridiculous! I like the sell credit feature, but I think you need to regulate it by setting reasonable fixed sale rates instead of letting the seller decide. A lot of people do not really understand the credit value ratio. If it continues like this, listia will no longer be a functioning website because people will stop listing items. Many people have already stopped bidding on things because the bids have skyrocketed so much. It really is a shame because this has always been such a great site and helped a lot of people, myself included. We were able to get needed items here that we could not afford to go out and buy. But now the average member who tries to list items with reasonable starting bids and GINs is no longer able to win auctions because they just don’t have the amount of credits needed to do so. Prospective new members come and look around and see the outrageous bid amounts and immediately want no part of it. If you want to save listia and have it continue to grow and be a great site, this credit inflation NEEDS to be gotten under control!

    • Rebel_Rose65 says:

      As of now the selling of credits has risen to 12300/$1 wow.. It’s risen so much every day. I don’t understand why people go on an offer more points for their money when they sell and keep driving the prices up, it makes no sense.. For some reason prices of auctions have not risen with the credits and I’m not making enough selling nice items they just are going for much .. I will probably quit running auctions now, I am losing too much money

  29. Yes, they are killing this site with this and they don’t seem to care. Selling credits could be a great feature if they would just set reasonable fixed prices, or even fixed price RANGES, but they won’t listen. It’s really a shame.

  30. Well, it is now July 27, 2016; and my goodness, last night someone sold their credits at 16700!!!! As sellers, we are doing this to OURSELVES. Who are these greedy sellers that they cannot wait at MOST 30 days to get their money? That is why this is getting way out of hand. I can wait 10-30 days if I have to. I wish all sellers would just cancel their current selling orders and set them at 6500!

  31. I still agree: all sellers cancel your current orders and place them at 6500 and BE PATIENT.

  32. I am having so much trouble buying credits with a legitimate credit card please contact me so we can resolve this matter 803-240-0440 or steveshealy.gmail.com

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