Customers can present their checks at a cash register at Sears and Kmart to convert it into a gift card at the full value of the check, and to receive a bonus gift card worth 10% of the check.Does this tempt you? Or will your rebate check go towards paying off some debt?The cards can be redeemed at any Sears, Kmart or Lands' End retail stores, as well as sears.com and landsend.com, Hoffman Estates, Ill.-based Sears (SHLD, Fortune 500) said.
The promotion is scheduled to last between May 14 and July 19. The gift cards have no expiration and no fees.
Sears representative Kirsten Whipple said details for shoppers who elect to receive the fiscal-stimulus check by direct deposit are still being worked out, but they will likely be able to register online to receive a coupon to bring to stores.
Sears offers bonus to stimulus check shoppers [CNNMoney]
(Photo:OctopusHat)
This reminds me a lot of the scammy car dealers near me who advertise that they'll do your taxes for free if you spend your refund on a down payment. Riiiight.
]]>*dodges bricks and bottles* Let me finish! [kudos if you caught the reference lol] By giving me an extra 10% - or $60 - the Sears is basically giving away free money. There are only 2 things to keep in mind:
1. Use the gift card ASAP, in order to avoid monthly fees, and
2. Buy something that will not lose its value.
In my opinion, the best thing to buy would be postal stamps. They are as good as money, and the "Forever" stamps are even better, because you'll only need 1 "forever" stamp to mail a letter, regardless of the price increases on stamps. So, basically, it's an investment, a bonus and a smart purchase all in 1. ;)
]]>a majority of economists say we're in a recession. george bush rejects that idea because his great summer 'tax rebate' is going to pull us out of it.
i'm glad sears is doing their job to pull us out too.
LMAO.
]]>OMG what a fucking stupid idea.
]]>Also, check with your utility company to see if they offer some sort of rebate plan. Mine (SCE) does and they gave me a $50 rebate for the new fridge, plus another $50 for recycling my old fridge with them. I will probably never buy an appliance from anywhere else.
]]>hmm i have been needing some new shelves...
]]>10% isnt enough! Even on a big-ticket item that could probably be bought somewhere else cheaper or at least at the same price. Sears is just bad bad bad! I havnt bought anything from them since I bought one offroad tire (on sale with free balance & installation) maybe 10 years ago. And even THEN I had to wait forever while the automotive tech screwed around for a couple of hours. Like I said.... sears = bad bad bad.
]]>@Broncoskip: LOL, really.
Hey Sears, if you want to get people in your stores, sell things people actually want, and hire staff that didn't come from special ed.
]]>oh, i stand corrected. paper checks will start mailing on may 19...
my other points/questions still stand
]]>This is PERFECT for Sears*.
1. Take all the money (Stimulus Checks) from people and convert them to Gift Cards. As we know on Consumerist...Gift Cards = Unsecured Loans (in bankruptcy court).
2. When enough people have the cards but haven't used them...file bankruptcy, or some enact some action to no longer accept the gift cars.
3. PROFIT!
They should have offered to DOUBLE the stimulus check, they would have made a killing.
/Hides
*I reserve the right to this idea. If Sears/K-mart/ does anything similar in the upcoming 36 months, I am entitled to 5% of the revenue.
]]>why did they bother starting the promotion in may? paper checks won't be mailed out until later this year.
and do you have to convert the entire check into their gift card?
and will you actually be able to take home and/or use whatever you buy from them =)
]]>well if you think about it. thats a free $60.
Dont use the money to pay off debt. Use the money that you WOULDVE used for clothes and stuff for paying off your debt, that way you get a free $60
]]>If you add a 10% bonus to the fecal mass that is Sears, you just get a bigger pile of poop.
I'm not really seeing the value-add for the customer in that.
]]>Applause!!! Excellent post!
]]>NPR, IRS and my local grocer have all told me that:
The Stimulus Rebate is NOT an advance on next year's refund. Is NOT.
It's one of those wife's tales like the Easter Bunny or Republicans that work to help the poor.
]]>Now Meg, didn't you just tell us yesterday to avoid gift cards under the article "Retail Bankruptcies Threaten To Wreck Economy, Empty Your Local Mall [Economy]"
Quote "All this means that gift cards are an increasingly risky investment. Changes to the bankruptcy laws in 2005 may force retailers to pay suppliers before honoring gift cards or even paying employee salaries. Give cash!"
Just giving you a hard time!
]]>We're using our money to redo the decaying deck off of our bi-level and if Sears sold lumbar, I would definately do that.
Definately smart on Sears part - I know plenty of people* who are planning to use their money to buy appliances and big screens with their stimulus money so I'm sure this will sway them from Lowe's and Best Buy.
*They aren't Consumerist readers.
]]>I'd be running of to Sears with my rebate check, but since I have direct deposit, it looks like I'm out of luck.
]]>A broken water heater:
[consumerist.com]
An invisible HD tv:
[consumerist.com]
An obsolete analog tv:
[consumerist.com]
A jigsaw instead of the air blow gun you ordered (and bonus! get charged the wrong prices on sale items):
[consumerist.com]
A tipping stove:
[consumerist.com]
A Golden Parachute for an incompetent doofus:
[consumerist.com]
Imaginary auto service:
[consumerist.com]
A pretend vacuum:
[consumerist.com]
Dinnerware tainted with delicious, tasy lead:
[consumerist.com]
Warranty service that, surprise!, doesn't actually warranty anything:
[consumerist.com]
[consumerist.com]
[consumerist.com]
[consumerist.com]
A leaky refrigerator:
[consumerist.com]
A dryer that you didn't order:
[consumerist.com]
And don't forget to sign up at "My SHC Community" so Sears can vomit spyware all over your computer and expose your private information on their insecure website:
[consumerist.com]
[consumerist.com]
Gee! The line for those Sears giftcards will probably circle the earth two times!
]]>Besides that, fuck off, Sears. That money is better off in my MattressFund (TM).
]]>Not a very good business decision here is it?
]]>Fuck you Sears. That is all.
]]>I'm not tempted though. I can't think of that much stuff I'd want/need from Sears and I did direct deposit anyway.
]]>This is definitely a good deal for people who have things they will immediately buy at Sears.
I don't, however, and I would not be willing to put $2,100 on a gift card and risk losing it to Sears' bankruptcy.
Furthermore, if unsatisfied with your Sears purchase, you can't do a chargeback with your gift card.
]]>.
]]>Get a 10% bonus on your money, Sears declares bankruptcy, you lose 100% of your 110%. Easy math.
@prameta1:
Is that you Bernanke?
I might be more inclined if the bonus was 30% or more.
10% doesn't cut it anymore.
]]>Too bad that (when they go bankrupt) people won't have the option to stop paying on their Sears Credit Cards -- but you can bet that any money you have on their "Gift" cards becomes so much worthless plastic..
Funny how that works.
]]>Could you use the gift card to pay off your Sears Card? It'd be like getting a retroactive rebate. :)
]]>Seriously though, only do this if your going to buy right then and there. Remember what happened to all those gift cards at Sharper Image when they declared bankruptcy.
]]>don't pay off your personal consumer debts with those checks you stupid deadbeats! that money isn't there for you to convert your credit card debt into a new national debt. go buy a new microwave, go buy some new shoes, go spend that money out there in the economy. go buy american-made products with it. do you want a recession?
this isn't "your money" to do "anything you want with it". do you know what a disaster it would be if every moron put his stimulus check towards his dumb wife's visa balance?
that money isn't taxable income, that money isn't an advance on next year's return, that money isn't yours to "do with as you please", it's there for you to spend out there in the hurting economy. stop shooting that country in both feet you stupid morons!
and if you're so smart, why are you carrying an 18% credit card balance to begin with? "i'm gonna pay my debt with the stimulus check". wow, how responsible and disciplined. you have the discipline to pay off your unnecessary consumer debt with money that fell out of the sky? wow, that's discipline. how about cancelling your cable and throwing that $50 towards your credit cards every month? ever thought of that? stupid fools.
]]>that being said, i'm using mine to pay off debt, specifically, home improvement debt. no, i don't count new tools as home improvement :)
]]>gift cards are 60 bucks if your single........130 if your married.
]]>It's desperate but a good idea for someone that is looking to spend some money there...
someone is offering you a 10% instant reward and you guys are bitching..
Does anything make you people happy?
]]>Now, I don't have a problem with Sears in general. The last time I made a semi-major purchase from them (about $300), the upcharge was actually moot, because the person on duty was willing to pricematch the best price I could find around town. Didn't even ask to see an ad -- I just told them and she said, "OK, we'll do that price". Earned brownie points, it did.
But since I put the odds of a bankruptcy declaration next year at over 10%, it doesn't make since to invest money for a 10% return, unless I can spend it immediately.
]]>Also, Sears is in very real danger of going bankrupt, which would cause you to lose all your money that was tied up in gift cards.
]]>@Mr. Gunn: you must have done amazing in all your math classes.
]]>Nice one, Sears!
]]>Too much debt to be buying anything, but that's not a bad idea....if it were anyone else but Sears.
]]>