Retailers To Offer Extra Gift Card For Stimulus Checks

[OhioChick]

Source: Newsnet5

Sears officials wants to stretch Americans' stimulus checks a little farther.

The retailer announced this week that it will offer a 10 percent bonus to every customer who converts a government stimulus check into gift cards at Sears and Kmart.

"In this tough economy, we know that our customers are focused on how to make their money work harder for them," said W. Bruce Johnson, interim CEO and President of Sears Holdings. "Every day we at Sears, Kmart and Lands' End are intent on bringing our customers the value, quality and style they deserve -- and our stimulus check program now provides even more value."

The entire stimulus check has to be converted into gift cards to receive the bonus gift card.

The promotion is scheduled to last from May 14 to July 19, 2008.

Read more: http://www.newsnet5.com/money/15910840/detail.html

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"In this tough economy...."

BS....People should either be paying down bills or banking it.

[flvegan]

1. I see this two ways

1. Sounds like a corral method, whereas you guarantee folks will spend their entire stimulus check at your stores, which in many states, means savings of just over what the sales tax is;

However, this could be a good thing if:

2. It's a good idea for someone that was planning on using that check to buy a needed appliance, generator, etc and might have done so at Sears anyway.

Either way, unless it's a necessity, folks should really be paying down bills or banking it. Or donate it, so you can write it off next year if one doesn't need it. Don't know many folks like that right now.

[OhioChick]

3. I heard that Kroger was doing this, too.

Kroger offers bonus groceries for tax refund

http://www.bizjournals.com/atlanta/stories/2008/04/14/daily47.html

[melm00se]

8. If I am in

krogerland, sure as heck would do this...10% kicker to buy groceries? that can go an awfully long way if you are careful and frugal.

[fudge stripe cookays]

13. That's what I was thinking.

Furniture, appliance, car repair. That's about all you could really do with it. Nobody wants to just go spend money on nothing right now; it's gonna be something they need.

And most rich folks aren't going to Sears. They'll go to Crate and Barrel or Restoration Hardware or somesuch.

[Debau2005]

2. Provided

I can use the gift card to pay off the Sears card, my fiance and I were going to pay off with his check anyway! Some how I don't think this is what they have in mind!

[shanti]

4. you think they'll allow that?

stores usually don't let you apply gift cards to balances.

[OhioChick]

5. Highly Doubtful. n/t

[Dr.Phool]

6. And if your stimulus is direct deposited?

Which I think most will be.

[TomInTib]

7. I'm gonna talk to our liquor store about this... nt

[mdmc]

9. Are any other stores doing this?

I have a Sears nearby...

[Raine1967]

10. 10% on top of the rebate

That is a stunning amount. It is no longer a blue light special... it is red lights all the way. :(

[MaineDem]

11. What if your check isn't due until August?

And the question about Direct Deposit is a good one, too.

[Retrograde]

12. elementary corporate ->customer translation

"for your convenience" means "for our bottom line"

I somehow doubt Sears is doing this out of the goodness of their corporate heart. Consider: the whole check has to be put into the gift card. Now, if the taxpayers don't spend the whole amount at once, Sears gets to keep the money until they do. (Do the cards have expiration dates?) Moreover, it gets people into the stores, where Sears probably hopes they will spend even more. So it's win-win for them: they get people in the stores and hopefully spending a lot.

For the customers it's not so clear: if you're planning on making a purchase at that particular store large enough to use the entire stimulus check anyway than the 10% discount then it's probably a good deal. If you weren't planning on spending that much at that place, then it's tying up money you could use elsewhere.

I'm not getting stimulated anyway. Guess I won't vote for McCain, then :)