OT: How do you deal with rebate cards?

smhontz wrote on 6/25/2012, 12:53 PM
Used to be that when you got an equipment rebate, they'd send you a check that you could just cash or deposit in the bank. Now everyone sends you a Visa or AmEx debit card for a specific amount.

Am I just lame, or are these cards more of a pain that a check? My bank won't take them, so I can't just cash them out or deposit them. I do a lot of online shopping, but you can't use more than one at a time. So, I end up buying something that's close to the value of the card, and end up with something like $2.04 left on the card.

I don't want to carry them around to purchase items at the store; I have specific credit cards I use for that.

How do you use them? Do you find them more convenient than checks?

Comments

Chienworks wrote on 6/25/2012, 12:59 PM
I've only ever gotten one, from Verizon, when i bought my Droid X. I've never successfully gotten a rebate (card or check) from anyone else.

I agree though that they are for the convenience and benefit of the company sending the rebate and not for the recipient. Getting the full amount out of them is almost impossible. I ended up using mine at the gas pump and over three visits was able to get $97.60 out of $100. After 6 months the remaining $2.40 went back to Verizon as "unclaimed funds". I would imagine if these companies end up reclaiming a buck or three from every one of these cards it adds up to a tidy sum.
videoITguy wrote on 6/25/2012, 1:32 PM
BEWARE BEWARE , Please note these cards carry some consumer risk... HERE is how it works. In the fine print of the card contract which you have never seen and certainly never signed is the following:

"If you care to redeem this card in its entirety or even a small balance left over from previous transaction - you will be charged _____ (fill in the blank) for every month after ____ (fill in the blank) you have received this card. Usually a surcharge of $2.00 per month after 30 days of the rebate being delivered. For a small rebate of say $12.00 you could actually pay $24.00 for using it in the thirteenth month of its expiraton!!!!! WOAAAA! Beware!
Former user wrote on 6/25/2012, 1:38 PM
videoITguy,

how do they charge you this extra amount since you don't actually have any account with them?

Dave T2
john_dennis wrote on 6/25/2012, 2:10 PM
In spite of the rather antiquated system showing in my system specs, I buy hardware continuously. I just use the cards as part of the purchase of the next piece of hardware. I have a card coming now for a recent Corsair SSD purchase.

My most notable on-going purchase is print cartridges for my printer and hard drives. At $15.00 each (the printer has eight of them), I can go through a lot of rebate cards.

I would rather have the cash or a reduced price on the first purchase.
riredale wrote on 6/25/2012, 2:43 PM
Video, I think that could be a misreading. I suspect that what they instead are doing is taking money away from the card every month until the balance reaches zero.

As for small leftover balances, just use one to buy your fast food next time. They will zero out the balance and then you pay the difference in cash or on another card.

As for rebates in general, five years ago I bought stuff all the time this way. But now it's been years. The idea is to photocopy everything, and sure enough maybe one out of ten will be rejected. Then you respond and maybe send in a copy, and the rebate comes through. But unless it was for $50+, I wouldn't bother any more.
videoITguy wrote on 6/25/2012, 3:12 PM
Yes, you are correct DaveT2, the actual net effect of the lapse time of the card is that their practice is to drain the stated "value" to zero, then you just have really one good option, cut the card up and throw it away.

What I have contention with is that the stated (in contract- you did not see) amount of negative-loss is huge $ compared to the card's face value. Many legislation attempts have been made to get gift cards registered and controlled for their declining value. This is an area (of the rebate card) that legislation to date has not touched.
JackW wrote on 6/25/2012, 4:59 PM
There are companies that will buy your rebate cards from you, for example. I haven't done this myself but occasionally hear the service touted on TV. Has anyone here ever tried this?

Jack
Chienworks wrote on 6/25/2012, 5:19 PM
Looks like you'll lose more money that way than by keeping the card and using it as much as you can.