Vinted credit - WWYD

[Dahliadaily]

I’ve had a big clear out and amassed £300 on Vinted.
I’d like to pick a few key pieces for winter. I’m struggling to decide. I no longer work in an office so am in casual and exercise clothes all the time these days.
I live in a very Boden/Wyse suburb and don’t want to be another leopard barrel/Onitsuka Tiger clone. Nothing wrong with those things - just that they’re a uniform here.

I’m a short size 10. I like cashmere but have quite a bit already. Was toying with a classic Barbour or big down parka maybe. I do need some comfortable leather Chelsea boots or similar. And my Puma trainers are getting past it.

I was planning to spend my winnings on Vinted because your money goes so much further but perhaps I should withdraw it. WWYD? 🙏🏼

Withdraw it then pay by normal means! Put the money in a savings account so you know it's earmarked for clothes. Vinted can't be trusted further than you can kick your phone

This.

Take the money out. Don’t keep it there as they have a reputation for closing accounts for the most minor reasons.

It also takes its time making its way to your bank account.

I worded that badly and was looking for style advice and to know what other people would pick.
But yeh I probably should consider moving the money. It’s just that I like having a clothing budget in there. And Vinted £s have more purchasing power than £GBPs!

Get it out of vinted first! If your account gets flagged for anything that money is gone!

As someone who is always cold, (but would not touch Vinted with someone's else's) I would withdraw the money and spend it on thermals. My mum just sent me a £25 heat holders voucher and I got three thermal tops at the weekend I got the leggings in a charity shop. Also I would get a real wool tartan kilt ( I did ) and Ganni Boots from eBay £39.99. also A beret in tonal colours with the kilt and a merino wool poncho

Ooh lovely @Doggymummar. You’re obviously a lot more stylish than me.

I buy myself something beautiful, but unnecessary, every year with my Vinted earnings. A heart purchase over head, if you like. Last year a beautiful bracelet. This year, a preloved designer bag. Next year it’s going to be Roger Vivier shoes.

I withdraw all my earnings as soon as they hit €25. Aside from the fact it’s not wise to leave such a huge balance sitting in your wallet, that £300 could be earning interest.

Do not leave that much money with Vinted! They could ban you for absolutely zero, idiotic AI enabled reason and you'd lose all your money. Also don't use Vinted credit to buy stuff as then you can't do a chargeback if things go wrong with the purchase. Just withdraw and then use it for whatever. There's literally 0 advantage to leaving it in Vinted.

This is true!

They closed my account for alleged fraud and doubled down when I queried it. Then when I threatened police involvement they re-opened my account and claimed it had never been closed…..!

They’re absolute twats but I do love a bargain so I still shop on there. I wouldn’t trust them holding my money though!

do they? news to me! what exchange rate?

I buy things on Vinted all the time and am not sure why everyone on MN is so against it! That said I never buy shoes from there as people leave shoes in cupboards for years and they get dry rot and you don’t realise until after you’ve worn them out

I love vinted, both buy and sell. I’m also picky with what I buy and I generally sell good quality things so my turnover with vinted is high even though I don’t buy or sell much. I still don’t keep vinted balance! The moment the funds appear I withdraw and invest, if I find something I want I pay with a card that gives cashback. Win-win.

I just mean that things on Vinted are so inexpensive.
But there’s no advantage in leaving the credit in there and I’m beginning to realise there are risks if I do.

I always think that with shoes, they’re probably really uncomfortable. And may contain fungus. Of course there are lots of new shoes.

I fully admit to buying a pair of shoes on vinted :-) I was after a particular colour of Birkenstock Low Bend that was sold out everywhere and I found a pair on vinted for 120 crowns (around 10 £). It was four years ago and I have worn them regularly, got amazing CPW out of them and they are still in use every spring and summer. They were not new either.

Bargain. I’ve had new trainers from Vinted. I’d be tempted by £10 Birkenstocks!

Please balance your finances on reality, not the idea of something.

The exchange rate of Vinted balance:GBP is 1:1 so there is no difference in purchasing power. Keep it in a bank account where you would have earned at least £10-15 in interest over the past year. Right now that £300 belongs to Vinted, not you.

You’re right @Agapornis. I think I just feel the “hard-earned” cash disappears into general circulation for bills etc and want it for treating myself. But that makes little sense.

I have a Monzo savings pot where I put any money I earn from doing surveys, from Vinted and from cashback sites, to keep it separate, otherwise it would just get spent on general day to day stuff. Once it’s built up a bit I usually use it to treat myself to some new clothes or something like that.

I always withdraw most of my money and leave £25-£50 in my account so I have done credit there in case there’s anything I fancy.

I just don't get the MN hatred of vinted!

I buy & sell high value (for mn it seems) and i buy new with tags mostly.

I have never had an issue & in past month have earned £300 selling 7 items. I have used some of that to buy a beautiful coat (with tags) & v expensive boots.

I also really don't understand people saying eeew to vinted but yes to ebay!!

But people don’t hate vinted on this thread, people are saying ”don’t use vinted as an alternative to a bank account”.

What I don’t understand for a change is the obsession with new with tags. There’s no shame in buying used items, quite the contrary, I think it’s something to be proud of given that our planet is drowning in waste.

I think it’s just a way of signalling ‘Never worn, in perfect condition’ with proof, rather than an obsession. I only sell on Vinted, never buy, but I gather (partly from buyers’ ecstatic feedback on stuff I’ve sold them, which is washed, ironed and in exactly the condition described) that ‘good condition’ can mean practically anything.

I’d invest in a good coat or boots for winter.

I have had success with both on Vinted, but by knowing exactly what I want, being very picky and only buying from very well established and rated sellers.

I got a lovely MaxMara wool coat in perfect condition fur £250 last year (retails at about £800!) and some leather Coach boots for £60, only very lightly worn, that were retailing at £280. It’s a risk - but possible to find nice things in amongst the £3 tat.