Cyberrebate was win-win.. but now is Bankrupt; +How they made $$ + Double your value
Written: Mar 27 '01 (Updated May 17 '01)
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The Bottom Line
Cyberrebate suddenly is now bankrupt, so I don't recommend business with them. =)
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Cyberrebate was profitable, fun and if you double the value, a good deal. It's also interesting that a company created this way of making money...
However, on Wednesday May 16th, the web site closed down for bankruptcy. All of us with rebate claims in process will wait and see if we will still get our over-valued purchase price money back.......
If so, for me, its too bad, because I liked the opportunity to shop there.
-Jeff 5/17/01
I was a tentative shopper my first visit to Cyberrebate.com, but decided to try it anyways, so I bought 1 or 2 small items. They arrived about 3 or 4 days later, to my surprise. After dealing with the 3 step rebate process, I waited to see if I'd really get my money. Well, as you know, the checks came back.
Since then, I've purchased and received another $1,100 worth of stuff, and some of it was great. Some of it was pretty much worthless, but I wasn't totally surprised about most of the junky stuff.
All the quality items cost a LOT... but may be worth it. Norelco shaver worth $60: $400. MP3 CD player worth $150: $900, Sony MZ-R37SP Minidisc player/recorder worth $180: $1080.
The reason I recommend it is this: You can get quality stuff by loaning them money that was doing nothing anyways. Using money in my checking that gains almost nothing (1% ann.) was obvious, but then I calculated how much it would cost me on a 5% rate for $100: $1.25 for 3 months. $1000 is $12.50. I have purchased items totally worth it, and there are even better items on there now. It all depends on what else you are investing your money in. JUST be sure to not pay any interest on your credit card!
Great items I got: large backpack, I thought it would fall apart, but I used it in Tibet and Nepal for a month and was very happy.
Mini-Binoculars: Look and work great
Cyberrebate recently started selling DVDs & CDs at ridiculous prices.. but you know you are getting something you want. the movie Dinosaur is for sale for about $180. Is it worth it? maybe. the DVD costs about $15 minimum in stores, so you lend Cybr an extra $165 for 3 months and they pay for the DVD. $165 at 10% annually would earn you under $5 in 3 months. Worth it? for me, it is, up to a limit.
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HOW THEY MAKE MONEY: everyone figures that they make most of their profit from people failing to correctly follow their rebate rules.. I doubt it.
Here's why: After traveling there, I learned that Korea (later learned Bolivia also) has a system for apartment dwellers.. The renter gives the owner money, X amount of won, equaling maybe $22,000 and lives in the apartment for a year. If they decide to leave the apartment, the owner gives them ALL $22,000 back. Now I had to wonder how they could possibly make more money than if they charged normal rent, which some do, as listed in the newspaper there..
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So, Cyberrebate can easily take some of the millions of dollars that people are spending there and invest it, gaining more than the low purchase prices of items.
BUT, you definitely have to be very careful when doing the rebate forms, double and triple checking your items. Remember this and happy shopping!
1. The cheaper prices on there are for cheap items, junk is junk, and probably worthless. Get value for your money loaned.
2. Always keep track of when you sent the rebates; Check them on the website to see if they are received a month later.
3. At 12 weeks after, start looking for the rebate status to say COMPLETED. If they don't, get on their case... They do want to keep a good image with customers, so their service is not terrible...
4. Before you purchase, consider doubling your dollar value:
By joining milespree.com, you can receive miles for a free airline ticket with every dollar spent. Since Cyberrebate.com is an affiliate with milespree, you get FIVE miles per dollar spent at CybR. Also, you get miles for surfing the website!
As someone who maximizes his spending/surfing (Why else am I writing on Epinions.com? :) I gain triple at cyberrebate: Free item, milespree.com miles, plus I purchase with my airline credit card to earn from them, leaving me with a really positive shopping experience, as long as I don't need the money during the next 3 months.
(you knew I wasn’t just telling you about MileSpree because I’m a nice person) Please enter my email if you sign up: youngjef@sonoma.edu
Thanks for supporting this student. :)
Jeff Young
Recommended:
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About the Author
Member: Jeff Young
Location: Californian in Tennesse
Reviews written: 12
Trusted by: 3 members
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