Comments on: Adding 10% to Your “Economic Stimulus” Rebate http://www.fivecentnickel.com/2008/04/23/adding-10-to-your-economic-stimulus-rebate/ personal finance tips, tricks, and commentary Sat, 21 Nov 2009 18:35:25 -0500 http://wordpress.org/?v=abc hourly 1 By: Brian http://www.fivecentnickel.com/2008/04/23/adding-10-to-your-economic-stimulus-rebate/comment-page-1/#comment-116909 Brian Wed, 30 Apr 2008 21:36:34 +0000 http://www.fivecentnickel.com/2008/04/23/adding-10-to-your-economic-stimulus-rebate/#comment-116909 My friend got some Fred Meyer's cards (a Kroger store) and used them to buy Visa Gift Cards, there by freeing up the money to be spent at any store. I guess it comes down to your sense of ethics on whether you could take the 10% and run. I couldn't. My friend got some Fred Meyer’s cards (a Kroger store) and used them to buy Visa Gift Cards, there by freeing up the money to be spent at any store.

I guess it comes down to your sense of ethics on whether you could take the 10% and run. I couldn’t.

]]> By: Danielle http://www.fivecentnickel.com/2008/04/23/adding-10-to-your-economic-stimulus-rebate/comment-page-1/#comment-116888 Danielle Wed, 30 Apr 2008 15:31:07 +0000 http://www.fivecentnickel.com/2008/04/23/adding-10-to-your-economic-stimulus-rebate/#comment-116888 I can add 16% to my economic stimulus check... by paying off my last high rate credit card! Sadly this does nothing to stimulate the economy but in the year to come it will help my bottom line and is an important milestone for me. I can add 16% to my economic stimulus check… by paying off my last high rate credit card!

Sadly this does nothing to stimulate the economy but in the year to come it will help my bottom line and is an important milestone for me.

]]> By: What about Meijer? http://www.fivecentnickel.com/2008/04/23/adding-10-to-your-economic-stimulus-rebate/comment-page-1/#comment-116737 What about Meijer? Mon, 28 Apr 2008 19:10:05 +0000 http://www.fivecentnickel.com/2008/04/23/adding-10-to-your-economic-stimulus-rebate/#comment-116737 ^ Can you find a link to where Meijer announced this? I just want to be sure. Thanks. ^
Can you find a link to where Meijer announced this? I just want to be sure. Thanks.

]]> By: Norm http://www.fivecentnickel.com/2008/04/23/adding-10-to-your-economic-stimulus-rebate/comment-page-1/#comment-116700 Norm Sun, 27 Apr 2008 20:44:59 +0000 http://www.fivecentnickel.com/2008/04/23/adding-10-to-your-economic-stimulus-rebate/#comment-116700 My wife just told me that Meijer (another grocery store) is also doing this. Norm My wife just told me that Meijer (another grocery store) is also doing this.

Norm

]]> By: Jen http://www.fivecentnickel.com/2008/04/23/adding-10-to-your-economic-stimulus-rebate/comment-page-1/#comment-116692 Jen Sun, 27 Apr 2008 12:48:40 +0000 http://www.fivecentnickel.com/2008/04/23/adding-10-to-your-economic-stimulus-rebate/#comment-116692 This is also being done at Albertsons. As for grocery store margins, it really depends on the product. In the fresh departments, it roughly follows that the margin is higher with how much work goes into the product. Some things come in pre-done, and the margin is much lower than the products that require much more work. Of course, margin isn't everything, because that doesn't consider how much the workers are getting paid. This is also being done at Albertsons.

As for grocery store margins, it really depends on the product. In the fresh departments, it roughly follows that the margin is higher with how much work goes into the product. Some things come in pre-done, and the margin is much lower than the products that require much more work. Of course, margin isn’t everything, because that doesn’t consider how much the workers are getting paid.

]]> By: Lisa http://www.fivecentnickel.com/2008/04/23/adding-10-to-your-economic-stimulus-rebate/comment-page-1/#comment-116669 Lisa Fri, 25 Apr 2008 16:36:09 +0000 http://www.fivecentnickel.com/2008/04/23/adding-10-to-your-economic-stimulus-rebate/#comment-116669 I think that this is a great idea for those who will use it. BUT, in response to Kyle, grocery chains margins are NOT thin!! If you use the card for the stores weekly loss leaders, you will be getting a deal - the profit margin on the regular priced stuff is very high indeed! I have the hard earned benefit of being able to use the military commissaries where the prices are marked at 5% above cost by law, and the difference is striking! In Colorado anyway, the Kroger owned stores being the highest! If you're dilligent about your groceries, get the Kroger card - if not, go with the Sears/KMart/Land's End one. I think that this is a great idea for those who will use it. BUT, in response to Kyle, grocery chains margins are NOT thin!! If you use the card for the stores weekly loss leaders, you will be getting a deal – the profit margin on the regular priced stuff is very high indeed! I have the hard earned benefit of being able to use the military commissaries where the prices are marked at 5% above cost by law, and the difference is striking! In Colorado anyway, the Kroger owned stores being the highest! If you’re dilligent about your groceries, get the Kroger card – if not, go with the Sears/KMart/Land’s End one.

]]> By: philip http://www.fivecentnickel.com/2008/04/23/adding-10-to-your-economic-stimulus-rebate/comment-page-1/#comment-116661 philip Fri, 25 Apr 2008 01:12:54 +0000 http://www.fivecentnickel.com/2008/04/23/adding-10-to-your-economic-stimulus-rebate/#comment-116661 That is a great statistic Derscheid, but there are so many reasons that gift cards would not get used that don't apply in this case that I don't believe they will benefit from non-use of the cards. Just assuming here, but many gift cards that don't get used are probably for places that you don't go and don't spend money at often. Most cards are given as gifts to people, not purchased for your own consumption. I believe these two reasons alone would make up most of that 15% that don't get used. That is a great statistic Derscheid, but there are so many reasons that gift cards would not get used that don’t apply in this case that I don’t believe they will benefit from non-use of the cards.

Just assuming here, but many gift cards that don’t get used are probably for places that you don’t go and don’t spend money at often. Most cards are given as gifts to people, not purchased for your own consumption.

I believe these two reasons alone would make up most of that 15% that don’t get used.

]]> By: T. Derscheid http://www.fivecentnickel.com/2008/04/23/adding-10-to-your-economic-stimulus-rebate/comment-page-1/#comment-116657 T. Derscheid Thu, 24 Apr 2008 23:38:19 +0000 http://www.fivecentnickel.com/2008/04/23/adding-10-to-your-economic-stimulus-rebate/#comment-116657 Nationally, the redemption rate on gift cards is about 85% over the life of the card, so this is probably still a revenue-positive move for Krogers. Nationally, the redemption rate on gift cards is about 85% over the life of the card, so this is probably still a revenue-positive move for Krogers.

]]> By: philip http://www.fivecentnickel.com/2008/04/23/adding-10-to-your-economic-stimulus-rebate/comment-page-1/#comment-116642 philip Thu, 24 Apr 2008 12:44:07 +0000 http://www.fivecentnickel.com/2008/04/23/adding-10-to-your-economic-stimulus-rebate/#comment-116642 Cool, I had been wondering what they would do if you did not have a check, but direct deposit. I don't buy that many groceries, but it is the only store I go to, I might go straight for the $660 card. Hard to pass up a free 60 bucks, and if I can put it on my rewards card all the better! Cool, I had been wondering what they would do if you did not have a check, but direct deposit. I don’t buy that many groceries, but it is the only store I go to, I might go straight for the $660 card. Hard to pass up a free 60 bucks, and if I can put it on my rewards card all the better!

]]> By: Rick http://www.fivecentnickel.com/2008/04/23/adding-10-to-your-economic-stimulus-rebate/comment-page-1/#comment-116639 Rick Wed, 23 Apr 2008 22:05:07 +0000 http://www.fivecentnickel.com/2008/04/23/adding-10-to-your-economic-stimulus-rebate/#comment-116639 Mo Money: Do you have a link regarding Best Buy doing this 10% bonus? I can't find anything on the internet regarding it. Mo Money: Do you have a link regarding Best Buy doing this 10% bonus? I can’t find anything on the internet regarding it.

]]> By: Mydailydollars http://www.fivecentnickel.com/2008/04/23/adding-10-to-your-economic-stimulus-rebate/comment-page-1/#comment-116631 Mydailydollars Wed, 23 Apr 2008 17:10:26 +0000 http://www.fivecentnickel.com/2008/04/23/adding-10-to-your-economic-stimulus-rebate/#comment-116631 I'm a faithful Kroger's shopper, so I'll probably take advantage of this. I suppose they're banking on some people forgetting about or losing their cards. I’m a faithful Kroger’s shopper, so I’ll probably take advantage of this. I suppose they’re banking on some people forgetting about or losing their cards.

]]> By: Kyle http://www.fivecentnickel.com/2008/04/23/adding-10-to-your-economic-stimulus-rebate/comment-page-1/#comment-116629 Kyle Wed, 23 Apr 2008 15:43:11 +0000 http://www.fivecentnickel.com/2008/04/23/adding-10-to-your-economic-stimulus-rebate/#comment-116629 Ahh, a sign of desperation by retailers? A 10% discount by a grocery chain is significant since grocery margins tend to be quite thin. Although I suppose they expect this gambit to increase inventory turnover, so they may yet come out ahead. Ahh, a sign of desperation by retailers? A 10% discount by a grocery chain is significant since grocery margins tend to be quite thin. Although I suppose they expect this gambit to increase inventory turnover, so they may yet come out ahead.

]]> By: "Mo" Money http://www.fivecentnickel.com/2008/04/23/adding-10-to-your-economic-stimulus-rebate/comment-page-1/#comment-116628 "Mo" Money Wed, 23 Apr 2008 15:16:18 +0000 http://www.fivecentnickel.com/2008/04/23/adding-10-to-your-economic-stimulus-rebate/#comment-116628 Great Post! I hadn't heard about Kroger's, but there are several retailers that are doing the same thing. One that I know of is Best Buy. So check around this may be used by other retailers and if you are in the market could save you some money. Great Post! I hadn’t heard about Kroger’s, but there are several retailers that are doing the same thing. One that I know of is Best Buy. So check around this may be used by other retailers and if you are in the market could save you some money.

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