sloth911 said: Slick29832 said: I would stay away bankruptcy is imminent and during bankruptcy gift cards/rewards points will be made worthless
Cool story. My Sears will let me by Amazon. com giftcards - so the risk is close to zero.
I remember when circuit city went bankrupt in November 2008. I actually owned stock in CC. I sold my stock literally the day before it went bankrupt. I sold because there were stories vendors were requiring up front cash payment for merchandise instead of credit. That caused the bankruptcy. If you search google on Sears or Kmart you'll see a lot of recent stories that merchants are starting to ask for cash up front. That will cause Sears/Kmart to go bankrupt a lot quicker than what people think.
If you want to be a smart ass fine, but I feel it's my moral obligation to warn people. When CC went bankrupt a lot of people were burned because they thought CC would survive until after Xmas. I think a lot of people are buying gift cards assuming Kmart/Sears will be in business until Janaury, but as I just mentioned, if their vendors start requiring up front cash payments Sears/Kmart will go bankrupt quick because they only have $200m in cash. When CC went bankrupt they had only used $200m of a $1.5 billion line of credit, but they needed cash and they had very little cash.
I dont want to hear no one say I didnt warn them!!!!
Slick29832 said: I dont want to hear no one say I didnt warn them!!!!
Well said Slick. For some reason, even if people aren't a smart aleck in person, they feel the need to be one online. Bankruptcy WILL happen for this company, we just don't know when. When someone starts a thread complaining about how their gift cards are worthless, then it is your turn to be a smart aleck... if you choose, but I doubt you will.
For more info, see: Sports Authority, Borders, Tigerdirect etc.
andyh80 said: Will they accept their gift cards during "going out of business" sales? Even if they did, you won't see deals as good as you can get NOW, after factoring in the "Shop Your Way Rewards" program promotions, surprise points, etc.--a program which will surely stop if Kmart goes belly up.
Store liquidation sales have screamingly large signs about great percent off discounts, along with inflated retail prices and picked over merchandise.
UkeDoggie said: andyh80 said: Will they accept their gift cards during "going out of business" sales? Even if they did, you won't see deals as good as you can get NOW, after factoring in the "Shop Your Way Rewards" program promotions, surpise points, etc.--a program which will surely stop if Kmart goes belly up.
Store liquidation sales have screamingly large signs about great percent off discounts, along with inflated retail prices and picked over merchandise. While gift cards would probably still be valid during liquidation sales, I doubt Shop Your Way Rewards points would. Those points would most certainly just vanish. I have $283 in SYWR points, so I am looking at ways to cash out before they are worthless.
Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.
Members of our community may attach files to a post in accordance with the User Agreement. FatWallet is not responsible for the content, accuracy, completeness or validity of any information contained in any attached file. Files have *not* been scanned for viruses. Be especially wary of Excel files which may contain malicious content.
Earn Cash Back while you shop - just 3 simple steps.
1. Sign Up so we know who to pay! (It's FREE.)
2. Shop through FatWallet for deals from your favorite stores. Your online purchases earn Cash Back that builds in your FatWallet account.
3. Get Paid by requesting a payment via check or PayPal.
FatWallet coupons help you save more when shopping online. Use our Coupons Search to browse coupons and offers from thousands of stores, gathered into one convenient location.
As part of our FatWallet Community, you can share deals with almost a million shoppers in our forums. Forum content is generated by consumers for consumers. Share deals, money-saving tips, and more. It's FREE, fun, and addicting.
Our customer experience team is here around the clock - real people ready to assist.