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I just heard this on CNBC for those receiving a tax rebate/stimulus check. Thought it was an interesting concept and decided to post it here for the FW community. I wasn't quite sure where to post, but given the value of the bonus figured Hot Deals was a good place to start...

Details:

When customers bring their stimulus checks to a Sears or Kmart cash register, they can convert the amount of the check into gift cards, plus receive a bonus gift card worth an additional 10 percent. To be eligible, the amount of gift cards purchased must be equal to the full value of the stimulus check. The gift cards can be redeemed at any Sears, Kmart or Lands' End retail stores or online at Sears.com or LandsEnd.com. The promotion is scheduled to last from May 14 to July 19, 2008.

Press release: here

I.e. your $600 check equals gift cards worth $660...

ACE

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i wanted to get a refridgerator. i don't want to pay tax. is there any way to avoid shipping/tax and use the stimulus ch... (more)

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Unless you plan to buy a computer, tv, or the like. In which case you will likely get more, at least in the relative sh... (more)

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Pretty good if you're buying a tv.
You could get a 10% bonus and still use any coupons/promotions later.

And to make it hotter, certain states have laws that state that you have the right to redeem gift certificates for cash face value at any time. Unfortunately FL isn't one of those, but hot for those in CA and other states.

how does it work on people w/direct deposit?

linrick said: how does it work on people w/direct deposit?

Maybe they only want to target people who still receive a check...

Looking forward to all the retailers trying to get a bite of that $300M stimulus package!

cmcdan1524 said: Pretty good if you're buying a tv.
You could get a 10% bonus and still use any coupons/promotions later.


Coupons probably, but the rebates usually require use of a Sears credit card.

that's a good option for the retailers...they'll hope some people lose or forget to spend the card (just like any gift card). so make sure to keep track of it!

Hmm, quickly moved to deals discussion.

My 2 cents:

I wish the mods would be consistent in their thread moving.

I read the rules regarding where to post and the only rule that seems to dictate that this post should be in deal discussion is that it is a "future deal". I always see future deals, including posts that aren't really deals, posted to Hot Deals (which gets the most attention) and then they are left in Hot Deals.

For instance, example thread, and not to take anything away from the OP, but the aforementioned is a 'future deal' and worth far less in monetary value.

And what about the posts on publication of future weekly ads in Hot Deals [sarcasm] that's real hot [/sarcasm]?

This is a post that can save someone $120 on a big purchase and it got moved in less than five minutes...

Our tax rate for purchases made at local stores is 9.25% so getting "10% free" does not buy us much - not when compared to buying online with no sales tax. But a good deal for those that don't live in high tax land or don't like to buy online.

The smart money is on direct deposit, since you get your money about a month quicker. I too wonder what happens to all those folks who do not get a check?

Dennis

10% is junk, it would have to be 40% for me to bite. a palsy 10% just knocks their prices to regular retail.

This is a Good Deal for me if I was getting $300. But I'm getting $600 (I hope!), and that may be a little much for me to dedicate to Sears.

SalemCat said: This is a Good Deal for me if I was getting $300. But I'm getting $600 (I hope!), and that may be a little much for me to dedicate to Sears.
I agree, salem. To have ~$1320 dedicated to Sears is risky, IMO. I'm still trying to get them to refund ~$2k for a botched refrigerator delivery, since returned. Their national customer service personnel are generally good, though. And, their local CSRs and sales reps are generally not helpful.

did not qualify stimulus is a joke.. i wish everyone who got this check saves it instead of spending again!!

kutta said: did not qualify stimulus is a joke.. Ya gotta declare the fleabay income if you want to get the stimulus check.

NoMoneyInMyWallet said: kutta said: did not qualify stimulus is a joke.. Ya gotta declare the fleabay income if you want to get the stimulus check.

I also don't qualify because I made too much eBay income and declared it

linrick said: how does it work on people w/direct deposit?

Most probably all the stimulus money will come as checks only.

just brilliant --- get 10s of thousands of people to turn their $1200+ rebate checks into a gift cards and then just wait for a good percentage of them to loose the cards before they spend the money

at 10% --- they aren't doing their customers favors --- of course if you already have that big ticket item in mind --- step right up

kiki08 said: linrick said: how does it work on people w/direct deposit?

Most probably all the stimulus money will come as checks only.
Nope.

This brings up a very good question. Does anyone know the answer?
I did direct deposit, will i get a paper check, or deposit? other places might have more specials like this, would i qualify?

ProppaT said: And to make it hotter, certain states have laws that state that you have the right to redeem gift certificates for cash face value at any time. Unfortunately FL isn't one of those, but hot for those in CA and other states.

In California, Gift cards for under $10 can be redeemed for cash. So unless you can have the cashier issue a bunch of $9.99 gift cards, not so hot.

I'm pretty sure the tax stimulus check will have your social security number on it. If so, I would not put it into the hands of a retail store clerk.

wow great way to give Sears/Kmart your stimulus check. like the other guy said, here in los angeles the sales tax will pretty much cancel the 10% bonus (not too great of a slick deal I meant fat wallet). I would recommend people hold on to their stim checks because the price of gas and food will continue to grow....this check was designed to offset that cost. But if your in the market for a big appliance its not too bad of a deal.

along the same lines, I read today that Kroger-brand (kroger, king soopers, others) grocery stores are also offering an extra 10% on the stimulus checks

crystal6218 said: This brings up a very good question. Does anyone know the answer?
I did direct deposit, will i get a paper check, or deposit? other places might have more specials like this, would i qualify?
You need to close your bank account that you used for Direct Deposit. Schedule FAQ

thanks for info

crystal6218 said: This brings up a very good question. Does anyone know the answer?
I did direct deposit, will i get a paper check, or deposit? other places might have more specials like this, would i qualify?


Sears is only offering it to those with a paper check. However, Kroger (and its family of supermarkets) is offering everyone a $330 gift card for $300, even if you pay by cash or credit card or debit card.

Apparently some other stores are doing this as well according to ABCNews.com.

abcnews.com said: Cincinnati-based grocery chain Kroger is giving gift cards with an added bonus to customers signing over their checks to Kroger. So a taxpayer with a $600 check would get a $660 gift card to use at the grocery store.

Sears, K-Mart and Lands' End -- all owned by Sears -- have an identical offer for customers who present their checks at the register. They can convert it into a gift card at the full value of the check and then receive a bonus gift card worth 10 percent of the check.

Wal-Mart, the world's largest retailer, is also planning some type of promotion but has yet to announce the details.

Supervalu, parent company of Albertsons, Jewel-Osco, Shop n' Save and other chains, will add $30 to a gift card for every $300 in rebate checks redeemed at its stores.


Kroeger also seems to own/run:

* Supermarkets - Kroger, Ralphs, Dillons, Smith's, King Soopers, Fry's, QFC, City Market, Hilander, Owen's, Jay C, Pay Less, Baker's, Gerbes, Scott's Food & Pharamacy
* Multi-department stores - Fred Meyer, Fry's Marketplace, Smith's Marketplace, Kroger Marketplace, Dillons Marketplace
* Price-impact warehouse stores - Food 4 Less, Foods Co

I wonder if this will work at those places too?

johndoeman said: wow great way to give Sears/Kmart your stimulus check. like the other guy said, here in los angeles the sales tax will pretty much cancel the 10% bonus (not too great of a slick deal I meant fat wallet). I would recommend people hold on to their stim checks because the price of gas and food will continue to grow....this check was designed to offset that cost. But if your in the market for a big appliance its not too bad of a deal.


Actually you should spend it now. Waiting just means your money will buy you less. Of course you should actually use it to pay down debt or save it which according to a lot of polls is what a majority of people plan to do with it.

i wanted to get a refridgerator. i don't want to pay tax. is there any way to avoid shipping/tax and use the stimulus check to get a bonus multiplier off it?

maybe Amazon drop ship something

Opus

Actually you should spend it now. Waiting just means your money will buy you less. .[/Q said:


Unless you plan to buy a computer, tv, or the like. In which case you will likely get more, at least in the relative short term.

Of course you should actually use it to pay down debt or save it which according to a lot of polls is what a majority of people plan to do with it.

"Pay down Debt" - People tell the Pollsters that because they think the Pollster will believe they are wise and responsible to say that.

In the back of their minds, though, I'll bet a whole lot of folks are cozying up to the idea of how sweet that HDTV at their local store looks.

They'll be less Bill-Paying and more TV-Buying than the Pollsters think.



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