Your Mail in Rebate May Be In Jeopardy

Hopefully companies get the hint now and just lower prices a bit up front.
 
I gave up on rebates a long time ago. If I get one, that's nice, but I don't buy into the "$X.xx after rebate" business. It costs whatever I paid for it and the rebate doesn't make it cost any less.

I haven't not received a rebate that I've sent for, but unless I balance my checkbook on a quarterly basis, it's pretty hard to figure that I saved any money when the check doesn't get to me for a couple of months.
 
Frankly, I always liked the MIR system. It ment I got my purchases at lower prices than the "average" person. Well that is of course until I forgot to send in over 300$ of rebates on a digital camera package... :( Maybe it's for the best then :(
 
Yay, my paranoia of MIRs has finally paid off! I can go rub this in all of my friends' faces w00t
 
hardcase said:
I gave up on rebates a long time ago. If I get one, that's nice, but I don't buy into the "$X.xx after rebate" business. It costs whatever I paid for it and the rebate doesn't make it cost any less.

I haven't not received a rebate that I've sent for, but unless I balance my checkbook on a quarterly basis, it's pretty hard to figure that I saved any money when the check doesn't get to me for a couple of months.
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LOL! How is it hard to figure out that you saved money when you're depositing it in to your bank account?
 
You'd swear from reading these boards that most people don't get their rebates. I can count on one finger the rebates I didn't get: 10 bucks for a Friends dvd set.

I even got 40 bucks from Kaspersky for AV software, and I sent it in 2 weeks late.
 
It sounds to em like they gambled and failed. If I read it right, maybe Company X expected to have 5000 MIR's sent in. That sounds like an estimate. Meaning guess. What happens if more are sent in? Does CPG have to eat it?

The other thing is, I wonder if CPG reinvested that money in an attempt to make more money? Could the financial collapse have something to do with this?

"Certainly MIRs are a mixed bag in the world of the computer hardware enthusiast. Some swear by them while others will not touch them with a ten foot pole."

I fall into the latter group. I avoid, if at all possible, MIR's. If a product I want has a MIR and is price competitive before the MIR, then fine. But I never expect to use or recieve the rebate. Just lower the prices up front and leave the rebate out of it.
 
I don't like MIRs for a number of reasons:

They skate too close to the edge of false advertising to me. When I compare prices I want to know the hit on my credit card because that's what determines if I can afford something. If something costs $100 after $50 MIR and has a big sign saying $100 then I can't buy it if I only have enough disposable cash/credit to cover the advertised price. If someone advertises a price I should be able to walk in with that amount of money (plus tax/shipping if applicable) and walk out with the item.

MIRs only benefit people who can afford to pay full price in the first place. Sure it's nice to get that mail-in rebate check - but they don't always come through and it often takes months.

I just don't like them.
 
I have only had one MIR actually give me the money and that was from evga, the ones I have done for asus, diamond, and motorola never came back and when I called they said they never got it.

I count MIR as a scam and don't even bother with them any more.
 
I've been shafted by rebates at least 3 times in the past, once by Hanns-G for a monitor. 50 dollar rebates aren't something to just brush off, these rebate companies screw us over too often
 
In 10 years of doing MIRs, I've only had two every get returned/turned down. And in both cases, when I went to Fry's with photocopies of my submission they resolved they issue for me.

This though is a whole nother league. I would assume the companies contracts with the fullfillment house cover cases when more rebates are submitted then the money in the esgrow, but that is just a guess. I think the company would basically be taking a $100k on the bet that only $65k in submissions are ever made. I'd be really intersted in knowing what happened to all that money personally. The fact that they don't know really is a very bad sign of a poor accounting system or someone pocketing the money.

Thanks for the info Kyle, I look forward to hearing any updates on this.
 
If mail in rebates ever were such a sure thing, then why don't they just offer the item for a lower price in the first place? If company x has to give the money to a company like CPG to hold in escrow...the money is out of their bank account already. What's the advantage for company x?
 
Also, why the ridiculous wait times for the checks? If they have the money in escrow, then it should just be a matter of cutting the check and mailing it out.
 
panfist said:
If mail in rebates ever were such a sure thing, then why don't they just offer the item for a lower price in the first place? If company x has to give the money to a company like CPG to hold in escrow...the money is out of their bank account already. What's the advantage for company x?
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Because if company x sells 10,000 units because of the mail in rebate lure, but only 5,000 customers remember to fill out the forms and mail them in, they get to keep the money from the other half that only bought the product based on the rebate.

I am not sure what the real numbers/percentages are, but I figure a good portion of people buy something with full intentions of mailing in, and forget or loose something.

 
Pogo said:
Also, why the ridiculous wait times for the checks? If they have the money in escrow, then it should just be a matter of cutting the check and mailing it out.
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That one is easier, the longer they hold on to the money the more interest they can draw off of it! I think this is one reason companies like GameStop really push $5 reservations for games (especially ones that might not even be coming out anytime soon). $5 x 1000s of reservations = some serious money to collect free interest on or invest into the business.
 
Not bastages, this is simply its business model. I don't think you work for free do you? ;)
 
I am in the catagory of people who will not touch those rebates with a ten foot pole. Rebates are crap and the instant I see a "deal" that is only really a deal after a rebate, I move on. This only makes my views on rebates that much more justifyable.
 
So far I've mainly been dealing with memory rebates as I'm sure most of us have been (Crucial, OCZ, Corsair, etc), and they have been excellent coming back to me.

What rebate house operates out of White Bear Lake, MN, whose only purpose appears to be Rebate City, USA ;) ?
 
Dugg
Just another reason supporting my decision to NOT buy anything with a mail in rebate.

I guess the question is whether we, as CPG's customers customers have any recourse. If we applied for a rebate from company X, who works with CPG, do we still have the right to our rebate, or if CPG goes under (i.e. bankrupt) do we lose out?
 
No but when i'm expected to fulfill my responsibility that was agreed upon from the get go i do it, i do it. Accountablilty is what it all boils down too. The monies were used for who knows what and now the consumer & comapny are going to suffer, most consumers dont realize the CPG is even involved and hold that grude again the actual vendor...
 
The good news is that CPG is only one rebate processor out of many. I would worry if you sent in a Tampa, FL rebate recently. I only have a few rebates out right now and i'm sure few (if any) were sent there.

If anyone knows of another CPG rebate address, post it!
 
While I don't count rebates towards my initial savings, it's still damn nice to get some money back later on (I mean, I basically got paid $5 to take Corsair's memory once). Kinda sad if this goes the way of the dinosaurs, but I guess it won't be too bad. Then again, NY getting taxed online... ;_;
 
Modred189 said:
BTW, thanks for the [H]eads up!
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Will try to be first with more information, but I think that once the mainstream press gets hold of this it is will be a big story with companies covering that have more resources than us in this realm.
 
I haven't ever completed a mail-in-rebate. There's really no reason why, I've just always felt like it would be too much of a hassle. Glad now that I haven't.
 
I just called Corsair rebate center and there handled by Velocity. (me want my $40 lol:D)
 
Did they change the page? I dont see anything on that link other than a general markteing blurb.
 
Aw heck. I just bought 3 items with MIRs. The Corsair memory, an Evga GTX 260 and a Powercolor 4830.

$100 in rebates. Guess I know not to do it anymore.
 
Wheresatom said:
Because if company x sells 10,000 units because of the mail in rebate lure, but only 5,000 customers remember to fill out the forms and mail them in, they get to keep the money from the other half that only bought the product based on the rebate.

I am not sure what the real numbers/percentages are, but I figure a good portion of people buy something with full intentions of mailing in, and forget or loose something.
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And this is exactly why ANY company who supports mail-in rebates is determined to shaft their customers out of as much money as they can. There is absolutely NO reason why this can't be handled on the back end by the retailer to the manufacturer. Cut the middle man for all that rebate crap and save everybody a lot of money.

The government is in on it, too. They get to keep tax on the money we shouldn't be getting charged on... There is no reason why I shouldn't get the tax back on that rebate money. Granted that mail orders are not taxed, but the government is trying to put their hand in that cookie jar, too.

MIR's are a complete waste of resources. In the end it only makes everything even more expensive by putting people to work in non-productive work that doesn't benefit anybody.
 
Does anyone know what URLs these guys operate under? I'm about to check my rebate stack. I have about 3 of them out right now. In about 10 years of mailing in dozens of rebates, I've never been screwed out of my money. As a matter of fact, I came out $20 ahead after I stuck it to Pc Mall for trying to screw me on a rebate. Keep copies of everything you mail, set reminders for yourself, and if worse comes to worse, mention the initials F.T.C. Works every time ;)
 
Er, is Status-Now even a rebate company, or just the name of the tracking website?
 
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