Rebate Checksfrenchrobinson1 | September 7, 2010
Have you noticed that more companies are issuing rebates in the form of gift cards instead of checks? Some states have complained that company ads gave the impression that rebates would come as checks instead of gift cards. Disclosure is now required in a few states.
And for good reason. Rebate cards often have fees and expiration dates attached to them. Also, retailer-branded cards generally can be used only at the issuing retailer. If the card company goes out of business your left with worthless plastic. Bank-issued cards are more widely accepted but may have fees and expiration dates too.
What can you do? If a rebate promotion doesn’t indicate what form the rebate will take, ask for specifics. Also check for fees and expiration date and use the card quickly.
Resource: Consumer Report, Money Advisor
Written by: Cora French-Robinson, CFLE