May 12, 2008

Stores vie to offer best bang for your rebateBy Ashley PetryIndyStar.com

Stephanie Hinshaw wasted no time last week spending her $600 economic stimulus check.

The 28-year-old college admissions director bought perfume, three pairs of shoes and new clothes for work. Thanks to some retailer discounts, she had enough money left over to buy a plane ticket to visit a friend in Washington, D.C.

“I considered saving it, considered putting it toward my student loans, (but) I decided to have a little fun with my $600,” the Lawrence resident said.With $117 billion in federal rebates landing in mailboxes and checking accounts this month, retailers are hoping other consumers will make the same choice, potentially reversing a recent decline in sales. Major retailers are offering bonuses and discounts to consumers who cash their stimulus checks in stores or convert them into store gift cards.Kroger will add 10 percent to the value of store gift cards purchased in $300, $600 and $1,200 amounts, which mirror the rebates most taxpayers will receive.

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