REDEEMING YOUR REBATES SUCCESSFULLY

In-store or online rebates can be a great money-saver. Spending less with rebates usually requires follow- through and organization on your part. The only consequence of not following through on a rebate is paying full price. But, for a Mighty Bargain Hunter like you, this just isn't acceptable!

Some rebates do have a good reward if you follow through--you can get an item free or even get paid to buy an item!

However, the stores are not on your side here. They lured you with the prospect of a cheap item, and hope that you don't, can't, or won't follow the instructions to get your rebate back. In fact, sometimes they set up hurdles to cause you to trip and fall en route to rebated bliss! If they really wanted to give you the item cheap, they would have just lowered the price, right?

My close sources in retail management reveal that stores count on a rebate conversion rate of well under 100%. For example, if they offer a $20 item with a $20 rebate, and only 60% of the people buying the item return the rebate, then the selling price for the item was $8, which may still be above cost for them!

What to look out for

Here are some gotchas designed specifically to make you lose:

  1. The time to respond to the rebate may be very short. If you snooze, you lose!
  2. The store can mysteriously be out of the required rebate coupon. If you forget to come back for the coupon, you lose!
  3. The rebate can have complicated instructions--circle the purchase price, copy the UPC from the bottom, include the outer red foil wrapper, etc. etc. etc. If you miss a single number, you lose!
  4. You may need to include a lot of things proving beyond a shadow of a doubt that you in fact purchased the item. (I suppose I can give them this one!) BUT, if you throw anything important away, you lose!
  5. Some less reputable vendors may deny your rebate just for the heck of it. If you put up with it, you lose!
  6. After you get all this done and receive the rebate, the check is void after 60 days. You forget to cash the check, you lose!

Improve your odds

Some preparation will improve your odds of snagging the prize despite the odds being against you:

  1. Have everything you need for the rebate, and keep everything associated with the product and the purchase.
  2. Follow the directions on the rebate to the letter, leaving plenty of time before the expiration date to do the rebate.
  3. Double check that you followed the directions on the rebate to the letter.
  4. Photocopy all pertinent information in case there's a problem (usually their carelessness or deliberate denial of an otherwise valid rebate).
  5. Make sure you address the envelope correctly and affix sufficient postage.
  6. For high-stakes rebates (notice the gambling analogy here!), you may want to spend the extra 55 cents for delivery confirmation, or the extra $1.80 for signature confirmation. This way you have extra proof that they actually received the rebate, and they'll be less likely to choose your rebate to deny.

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