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Tax Rebate Deals–Supersize Your Economic Stimulus Payment
With the Treasury starting to send out tax rebate checks this week, retailers have started clamoring for your business. To entice you to spend your new found money at their stores, many retailers are offering bonuses and discounts if you spend your tax rebate check with them. Many retailers, for example, are offering a 10% bonus if you exchange your tax rebate check for a gift card.
So in the spirit of smarter money management, I've compiled this list of retailers that are offering a bonus or other incentive in exchange for your tax rebate check. I'll update this list regularly, so be sure to check back. And if you know of an incentive not listed here, please leave a comment, and I'll be sure to add it. With that, here's the list of retailers offering tax rebate check deals and incentives.
Albertsons: The grocery store chain is offering a 10% bonus if you buy a gift card with your economic stimulus check.
Fry's Food: Get a $30 bonus for every $300 in tax rebate checks exchanged for store gift cards.
Home Depot: Frankly, this is not much of an incentive, but Home Depot is discounting some of its environmentally friendly products and encouraging shoppers to put their rebates toward going green.
Kmart: From May 14 to July 19, 2008, Kmart will exchange tax rebate checks for a gift card with a 10% bonus. Simply take your tax rebate check to any register at a Kmart for the exchange.
Kroger: Beginning Friday, Kroger will exchange a tax rebate check for a Kroger give card, and tack on a 10% bonus. is offering customers the option of exchanging their tax-rebate check for a gift card with an extra 10 percent tacked on. That means consumers with a $300 rebate can get a $330 gift card and those with a $1,200 check can get a $1,320 gift card. That's a lot of free groceries.
Lands' End: Also owned by Sears, Lands' End is offering a 10% bonus when you exchange your tax rebate check for a gift card.
Radio Shack: You'll save 10% on purchases of $50 or more when you use your rebate check or tax refund as payment.
Sears: The home of Craftsman Tools is offering the same 10% bonus deal as Kmart (remember, Kmart is owned by Sears).
Shop 'n Save: Earn a $30 bonus for every $300 in tax rebate checks exchanged for store gift cards.
Supervalu: Parent company to Jewel-Osco and Cub Foods, Supervalu is offering an extra $30 when you redeem your tax rebate check for a store gift card. The offer is available May 2 through July 3.
Wal-Mart: While not offering a 10% bonus, Wal-Mart is offering to cash rebate checks free of charge and is offering a "special selection" of in-store discounts after getting their cash. Wal-Mart will also refund the fee for its MoneyCard if you put any of your economic stimulus check on the card.
And remember, if you know of other tax rebate incentives, please leave a comment and I'll add it to the list.
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What about those who get direct deposit. How does these deals work for them?
Some of these look like great opportunities to take advantage of! Free groceries is always a plus! But, most of these talk about “taking in your tax rebate check” and exchanging it for a gift card. What about those of us who filed electronically and will receive our rebates the same way?
I have the same question as Comment#1 from Mike. I guess there’s no bonuses available for those getting their money through direct deposit, huh? I mean, how would retailers know your money is a “stimulus payment”?
Mike, Braunn and Eric, great question, and a co-worker asked me the very same thing this morning. According to JS Online (http://www.jsonline.com/story/index.aspx?id=744549) some companies are working on how to accommodate direct deposits, but no solution has been announced, yet. I’ll post here when and if a solution is offered, and if you hear anything, please let us know.
As part of the Shopping Confessions contest from online retail payment provider, eBillme, the company will be giving away $1000 and $500 for the best video or written confession revealing how you plan to use your tax rebate money. Details for entering can be found on the contest website, http://www.shopandconfess.com
Just be careful with the supersized gift cards. You don’t want to lose them. I work for a company that manages gift cards, and we blogged about this issue a few days ago on savvywallet.com. Consider this: Last year $100B was spent on gift cards, and $8B was lost or unclaimed. My advice? Save it and put it towards debt.
Austin, great point. I’d hate to lose a gift card with my entire tax rebate on it!
Hey DR!
Shaw’s Supermarkets is offering a similar program.
http://www.boston.com/business/ticker/2008/04/shaws_deal_aims_to_stretch_shoppers_tax_rebates.html
In response to the question about direct deposits … it looks like Shaw’s will accept a check or debit card as long as you bring your bank statement showing you’ve had a payment direct deposited.
David, thanks for the tip and including the link.
Here’s a chart of the dates to expect your rebate check:
http://comeandget.us/Home/tabid/36/EntryID/2/Default.aspx
If your stimulus chek arrives direct deposit, you can still take advantage oft he 10% back at Kroger. They are offering the bonus to ANYONE who buys a 300, 600 or 1200 dolalr gift card – no check required.
Steve, thanks for update. I recall with fond memories (ok, maybe not so fond) working at Kroger’s in high school. $3.40 an hour was big money back then.
Steve is right, Kroger does not require the actual check. They do, however, at least at my Kroger, make you get gift cards in multiples of $330. Thus, I ended up with four (4) cards, each face value of $330. You also have to have the Kroger Plus card.
This was like finding $120 on the street!
Roundys (Copps & Pick-n-Save) +10% gift cards
http://www.roundys.com/modules/AMS/article.php?storyid=172
Menards +5%
http://www.nbc15.com/news/headlines/18329449.html
http://www.earthtimes.org/articles/show/safeway-offers-special-program-to-stretch-tax-stimulus-checks,376409.shtml
Good article, adding it to my bookmarks!