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New Bill to Require Companies to Pay Rebates More Quickly

Z

ZeroBurn

Platinum Member
Hey Guys,

Ran across this while I was doing some research on Special Interest Groups. Thought some of you guys might be interested, looks like a bill has been proposed that would help quite a few us out:

This bill would impose certain requirements on companies and
retailers that offer consumer rebates, including that a company mail
a rebate to a consumer not later than 30 days from when the company
received the rebate request. The bill would require a rebate offered
directly by a retailer on a product the retailer sells to be
redeemed at the time of the product's purchase. The bill would
require, with an exception, a company that offers a rebate to accept
as valid proof of purchase a copy of the receipt for the purchase of
the product.
Click to expand...

Click Here to see the status and history of the bill, as well as view the bill in its entirety.


 
If this goes through you can pretty much kiss rebates goodbye, they won't be profitable anymore.

Not that that is a bad thing, but some of the rebate whores in HD might object.

Viper GTS
 
Originally posted by: Viper GTS
If this goes through you can pretty much kiss rebates goodbye, they won't be profitable anymore.

Not that that is a bad thing, but some of the rebate whores in HD might object.

Viper GTS
Click to expand...

I thought rebates were profitable because most people would not submit or they would go out of their way to reject rebates
not because of the long period of time after payout


 
Originally posted by: mchammer187
Originally posted by: Viper GTS
If this goes through you can pretty much kiss rebates goodbye, they won't be profitable anymore.

Not that that is a bad thing, but some of the rebate whores in HD might object.

Viper GTS
Click to expand...

I thought rebates were profitable because most people would not submit them not because of the long period of time after payout
Click to expand...

That's part of it, but they also make money by holding your money.

Besides, what's the biggest reason people don't send in rebates? All the damn hassle. This would make it a lot simpler.

Viper GTS
 
I wish they would pay em at the checkout counter and let the retailer fiddle with the coupons..especially a place like costco who has a membership requirement..
 
Originally posted by: IGBT
I wish they would pay em at the checkout counter and let the retailer fiddle with the coupons..especially a place like costco who has a membership requirement..
Click to expand...

If you read the contents of the bill, this is doing that.

"The bill would require a rebate offered
directly by a retailer on a product the retailer sells to be
redeemed at the time of the product's purchase."


This means that everything would be like in.. I think it's Delaware, where if a retailer advertises a rebate, then they are required to give the rebate at time of purchase, no questions asked.
 
Originally posted by: ness1469
Originally posted by: IGBT
I wish they would pay em at the checkout counter and let the retailer fiddle with the coupons..especially a place like costco who has a membership requirement..
Click to expand...

If you read the contents of the bill, this is doing that.

"The bill would require a rebate offered
directly by a retailer on a product the retailer sells to be
redeemed at the time of the product's purchase."


This means that everything would be like in.. I think it's Delaware, where if a retailer advertises a rebate, then they are required to give the rebate at time of purchase, no questions asked.
Click to expand...


Oh really I didnt know that.
 
.........well that's great..hope it passes........





Quote

--------------------------------------------------------------------------------
Originally posted by: IGBT
I wish they would pay em at the checkout counter and let the retailer fiddle with the coupons..especially a place like costco who has a membership requirement..
--------------------------------------------------------------------------------



If you read the contents of the bill, this is doing that.

"The bill would require a rebate offered
directly by a retailer on a product the retailer sells to be
redeemed at the time of the product's purchase."


This means that everything would be like in.. I think it's Delaware, where if a retailer advertises a rebate, then they are required to give the rebate at time of purchase, no questions asked.
--------------------------------------------------------------------------------
 
I avoid rebates. If they wanted to put it on sale, they'd discount it then and there.

My problem with rebates isn't time. It's the hassle and the fact that of the rebate forms I have submitted, I've only recieved 50% or less of them back. It's a scam.

The real answer to this is for consumers to start ignoring rebates completely when making purchasing decisions.
 
Originally posted by: Amused
I avoid rebates. If they wanted to put it on sale, they'd discount it then and there. My problem with rebates isn't time. It's the hassle and the fact that of the rebate forms I have submitted, I've only recieved 50% or less of them back. It's a scam. The real answer to this is for consumers to start ignoring rebates completely when making purchasing decisions.
Click to expand...

I ignore rebates as well. If I need something and it has a rebate - great! But I never buy just because there are rebates. When I do get rebate money, I put it into my Savings account.
 
Is this a federal bill or just CA state only?

The site is CA, and the bill text sortof reads as applies to residents of California only. If so, you'll see disclaimers on rebates saying Offer Void in California. Doesn't help the rest of US.
 
Originally posted by: mchammer187
Originally posted by: Viper GTS
If this goes through you can pretty much kiss rebates goodbye, they won't be profitable anymore.

Not that that is a bad thing, but some of the rebate whores in HD might object.

Viper GTS
Click to expand...

I thought rebates were profitable because most people would not submit or they would go out of their way to reject rebates
not because of the long period of time after payout
Click to expand...

Rebates are profitable whether submitted or not. Keep in mind that while you're waiting 4 months for your rebate to be processed - the company honoring the rebate is earning interest on your money every day they take before it's sent out.
 
If you think this is good then you better think again. If retailers are forced to give instant rebates at time of purchase rather than mail in ones the deal are gonna dry up folks. Retailers only use rebates because about 75% of the people who buy the product during the promotion never collect their rebate.....and I'm not talking about people getting gypped out of their rebate, they just never send it in or mess it up somehow. One of the reasons rebates have become so common is that companies increase sales and actually profits due to the customer's lack of dilligence. Most of us follow our rebates and get them but many forget they ever had a rebate coming. If this bill passes it better just shorten the time the companies have to pay or we are all going to be paying higher prices.
 
Originally posted by: Ronstang
If you think this is good then you better think again. If retailers are forced to give instant rebates at time of purchase rather than mail in ones the deal are gonna dry up folks. Retailers only use rebates because about 75% of the people who buy the product during the promotion never collect their rebate.....and I'm not talking about people getting gypped out of their rebate, they just never send it in or mess it up somehow. One of the reasons rebates have become so common is that companies increase sales and actually profits due to the customer's lack of dilligence. Most of us follow our rebates and get them but many forget they ever had a rebate coming. If this bill passes it better just shorten the time the companies have to pay or we are all going to be paying higher prices.
Click to expand...

I think it's good BECAUSE rebates will dry up. Then, retailers will have REAL deals and sales. Not BS rebates that are honored 50% of the time or less.

Of course, I disagree with the law. I think the right way to go about this is to completely demonize rebates and teach the consumer to ignore them. I'm against further regulations on business.
 
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