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Rebates_Savings_or_Scam
| Rebates: Savings or Scam?
We’ve all had our issues with rebates. Remember the time you
purchased that “free” product from Comp USA or Circuit City who
then promised you would get your money back? What an easy
purchase! But, did you know that the majority of folks never
redeem their rebates? If you really ever did get that check in
the mail, you’re one of the few savvy consumers out there. If
not, I want to let everyone in on how to ensure they’re going to
be getting the savings they signed up for. Get out a pen and
pencil; this may require a little work.
I’ll be honest; I’ve always had a problem with rebates. I’m a
consumer aware of the price I’m paying, constantly wondering if
my purchase is legitimate or there’s some hidden agenda
motivating the seller. Rebates seem to fit the bill of a scam.
After all, who wants to give something away for free, and how
can you make money on that? While rebates can seem promising on
the surface, they rarely pan out. According to Peter Kastner,
executive vice president of Aberdeen Group, only 40% of
consumers submit rebates they are entitled to, 40% submit the
rebate and successfully get a check, and 20% have problems. You
think they want you to redeem that rebate? Think again.
But despite the difficulties of rebates and the burden to
redeem, they do offer an opportunity at great savings impossible
to find elsewhere. A couple items of due diligence are required
when using these cheap discounts. But first let’s explain some
of the deception involved.
At the outset, merchants hope you won’t bother. It takes a lot
of work to redeem a rebate, so be prepared. In addition, the
redemption process is made to be complicated. Who owes you your
rebate, the retailer or the manufacturer? And the tediousness in
the process will make you so fed up you’ll forget about your
savings or give up in the process, taking the loss as a learning
experience.
OK, so we know rebates are difficult at best. But what if
everyone turned them in and was willing to follow up on all the
problems that can be involved? I’ll give you a hint, these
retailers would lose money, and rebates would end. But that’s
not the case: rebates grew from 1 billion to 4 billion dollars
from 1999 to 2003, and they continue on today with a presence in
the online discount shopping arena. Learn how to take advantage
of these savings and you’ll be adding to your online shopping
smarts.
1. Look at who’s issuing the rebate, the manufacturer or the
retailer? Manufacturers often use rebates to remove excess
inventory or to clear out products for the latest models. If
it’s a retailer who’s offering the rebate, and what’s their true
motivation? Why aren’t they just offering a sale? These
retailers are really just playing the odds hoping you won’t
redeem your savings, so be aware.
2. The paperwork: Be sure to keep receipts, UPC codes, and
sometimes even a cutout of the product picture or text on the
box. Read the fine print on the rebate form (don’t leave the
store without this) to know exactly what to send in. Be sure to
fill in every field, don’t leave your email address blank, your
form could be rejected on a technicality! A hint is to set up a
separate free email address at hotmail for a lot of you
‘potential’ spam mail. This address can not only be used for
rebate forms but for online newsletters as well.
3. Keep good records. I’d suggest marking the deadline for the
rebate on a calendar, and then the date they state the rebates
will be sent out – if it’s 8 weeks after the deadline, mark
that. Make copies of all receipts and UPC’s before sending in
your information. Be sure to take care of all of this within a
few days of purchase, many times the rebate does not depend on
expiration but on a date that can be only 7 days after your
purchase!
4. Don’t be afraid to call. Oftentimes I’ve found the only way
to get my rebate is to call, with records in hand, to explain my
situation. I NEVER leave my rebate to chance, because I know
I’ll eventually forget! After all, that’s what they expect!
Nowadays, I’ve resorted to using savings I can realize at the
point of purchase, and no longer rely on rebates for my bargain
hunting. Since most of my shopping is done online these days,
I’m resorting to online coupons and coupon codes where I can
verify the savings before checkout. Am I getting the best deal?
I think so; I never was one for paperwork.
About the author:
Gary Gray, of CouponChief.com, is a bargain finder
and deal hunter. Coupon Chief provides free discount shopping deals and coupon
codes to help consumers save money online at nearly every
store – before checkout! No hassles, no worries!
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