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November 24, 2021

How Does a Rebate Work?

Anyone who likes deals will probably like some features of rebates. Rebates are similar to manufacturer coupons, but the savings are slightly different. Instead of getting a discount immediately when you purchase a specific item, you will need to do a few things first.

Overview of Rebates

One of the biggest caveats with successful rebate redemption lies in the small print. You have to read it carefully, and follow the instructions precisely. Failure to do either of these things will likely mean that you don't receive the rebate.

Merchants often use rebates to attract the attention of consumers. The merchants will advertise the final price of an item after the rebate to get you interested. After you make the purchase and follow the prescribed steps of the rebate, you'll receive a refund that will result in the advertised price.

Rebates may come in the form of an instant cash rebate. Rebates may also require the consumer to submit a claim with forms, receipt and UPC code. Sometimes you mail the claim and other times you submit it online. You may the receive a check or a credit that you have to use with the merchant.

Mail Rebates

Mail rebates are one of the most common types of rebates. After making the required purchase, you'll get a form to complete and mail. The instructions on the form usually outline steps for copying your receipt, cutting out the UPC symbol from the product packaging, filling out the form and mailing everything to an address. Most mail-in rebates have an expiration date, so your submission needs to be postmarked before this date to be valid. If you fail to include a required item or don't complete the form, the submission may be disqualified. If you submit everything correctly, you should get your check or credit rebate within six to eight weeks.

Rebate Online

Online cash rebates are another common type of rebate. After making the purchase, you'll receive instructions for submitting a claim. Online rebates might require you to fill out an online form and upload photos of your receipt and the UPC symbol. After submitting the claim, you should receive the check or credit rebate in four to six weeks.

Energy Star Rebates

When you need to purchase appliances, Energy Star rebates can be an effective way to save money. Sometimes federal rebates are available. If they're not, you might be able to find state or local rebates. After purchasing an item connected with a rebate, you'll need to follow the specific instructions for claiming the rebate. This may include filling out a form and submitting a UPC symbol and a copy of a receipt. Energy Star rebates typically have strict deadlines.

Check My Rebate

Waiting for a rebate can be tricky, because you might wonder whether you followed the instructions correctly. Many merchants allow consumers to check the status of their rebates so they know if and when to expect the refund. The easiest way to check a rebate status is to visit the merchant's website. If available, you should be able to enter account information or the number of your rebate to know when to expect your refund.

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