Hello COMC Nation!
We hope that you had a fantastic Holiday Bonus Sale! Now that 2019 is here we want to tell you about some changes that have gone into effect today on COMC. Some of these changes were already covered in our previous announcement regarding changes coming in 2019.
Cashing Out COMC Credit for Paypal/Check:
Our 20% Cash-Out Fee has been replaced with a 10% Cash-Out Fee and a 5% Transaction Fee. The specific details of this change can be found in-depth in our earlier blog post.
Cashing Out COMC Credit for Blowout Cards Gift Cards:
Our rates for redeeming COMC Store Credit for a Blowout Cards Gift Cards have changed as well. Out with the old, and in with the new:
Legacy COMC Credit Explained
To qualify for cash outs under our new commission structure, COMC credit must either be earned after January 1st, 2019. Store credit earned prior to this date is considered Legacy COMC Credit. While this credit will spend the exact same as new COMC credit earned in 2019 and beyond, the key difference between Legacy COMC Credit and new COMC Credit earned after January 1st is that it Legacy COMC Credit cannot be cashed out until it has been converted to new COMC Credit via the Request Refund page.
When Legacy COMC Credit is converted to New COMC Credit, a 5% conversion fee is assessed, and the credit is now eligible to be cashed out under the new commission structure. Alternatively, if you have Legacy COMC Credit in your account, you can simply choose to wait until January 1st, 2020 when the concept of Legacy COMC Credit is retired, and any existing Legacy COMC Credit still in your account will be automatically converted to new credit without the 5% conversion fee.
Legacy COMC Credit only needs to be converted to New COMC Credit if you wish to cash out. Otherwise, it spends exactly the same as credit earned after January 1st on COMC. When you use COMC Credit to consign items, make offers, buy items, request a shipment, or pay for any other COMC services, we will use up your Legacy COMC Credit first. When you Cash-Out COMC Credit, we will use the new COMC Credit first. We will always use the credit that is most advantageous for you.
Regardless of how you use your Legacy Store Credit, you will ultimately be better off than before with our previous 20% cash-out fee. If you wish to maximize your cash out earnings, the best option would be to wait until January 1st, 2020, when all COMC credit, regardless of when it was earned, is eligible for the new commission structure. Waiting until this date to cash out Legacy COMC Credit will allow you to circumvent the 5% conversion fee, putting that savings directly into your pocket.
If you still have questions, our Customer Service Team is here to help! Simply send an email to firstname.lastname@example.org and our team will get back with you shortly. Happy New Year and here’s looking forward to a great year of collecting!