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ECT News Community   »   E-Commerce Times Talkback   »   Re: A CyberRebate Christmas - $1,000 Coal in Your Stocking

Re: A CyberRebate Christmas - $1,000 Coal in Your Stocking
Posted by: Keith Regan 2001-11-07 17:57:44
See Full Story

You remember CyberRebate. That was the fine Web site that sold people items at
outrageously expensive prices, with the promise that an outrageously generous rebate
would come. That was a promise they delivered on for some time -- right up until the time
when they couldn't anymore. It's no doubt starting to dawn on some of the forlorn
CyberRebate shoppers that they might as well give away the goods they paid so much for.

Re: A CyberRebate Christmas - $1,000 Coal in Your Stocking
Posted by: Pete 2001-11-09 13:46:38 In reply to: Keith Regan
This story is full of beautiful sound bites, but the author has not addressed any of the underlying issues.

Amex has treated Cyberrebate as a special situation. They have failed to honor the price protection clauses of their credit cards because in their words - the purchase comes with a rebate. They can't have it both ways, can they?

Also, Cyberrebate had a 30 day no questions asked full money back return policy. If someone makes a purchase and that guarantee is not honored, what is the role of the credit card company?

Some people also received refurb items, not new ones. If someone received a defective item, is there any recourse under present laws with Credit card companies? Or what if one thought that they were getting a new item and were then given a refurbished item?

At least the Boston Globe item was honest that "there is little case law in this area, adding that the matter may have to be settled in court".

Re: A CyberRebate Christmas - $1,000 Coal in Your Stocking
Posted by: Pete 2001-11-09 16:49:04 In reply to: Pete
I've included my email address this time.

I don't know how IRS would hold the "passed buck" - even if one assumed that one could "deduct the absurdly high price one paid" this still means that one is left with most of the loss. The IRS would pick up 28% (or whatever your marginal tax rate is) of the tab, you'd still be left with 72% of the loss.

Re: A CyberRebate Christmas - $1,000 Coal in Your Stocking
Posted by: Mark Dubinsky 2001-11-09 20:33:07 In reply to: Pete
As the subject of the Globe article, I have attemtped to contact the author to answer any
questions he may have had for me, but he hasn't responded. So much for ME being unreachable.

Re: A CyberRebate Christmas - $1,000 Coal in Your Stocking
Posted by: Linda Wiersma 2001-11-07 22:43:13 In reply to: Keith Regan
The other side of this fiasco is that a consumer's choice of credit card is the deciding factor in whether they are recovering from the beating Cyberrebate gave them or if they are now being ripped off by the credit card company. American Express & Discover both promoted Cyberrebate and had no problem collecting their fee based on the 10x markup that Cyberrebate charged, but now they want to act like it was "greedy consumers" who are the "guilty" ones.

Mastercard & Visa International are, for the most part, giving customer chargebacks and acknowledging that Cyberrebate was nothing less than cyberfraud.

Shame on American Express & Discover.

Re: A CyberRebate Christmas - $1,000 Coal in Your Stocking
Posted by: CyberrebateFan 2001-11-08 11:47:25 In reply to: Linda Wiersma
The deal will soon be made -if it has not already-between the secured creditors comittee and the unsecured creditors committee. Paymentech gets approx $5million from CR + $4million of CR's money it already has. The unsecured creditors (people who are owed rebates)get 10 cents on the dollar. Once the 10 cents on the dollar is paid out, secured creditors, employees, and lawyers will swoop down for the rest.

Look for your checks in Late December

Happy Holidays!

Re: A CyberRebate Christmas - $1,000 Coal in Your Stocking
Posted by: Rosey 2001-11-08 12:29:07 In reply to: CyberrebateFan
Visa and Mastercard, especially Juniper Mastercardm have done a good job of protecting their customers. American Express and Discover card have taken their money and profits from the merchant and turned their back on their customers. American Express has even refused to credit customers who ordered in May, the month that Cyberrebate declared Chapter 11. Some of those customers have never even received the merchandise and still AMEX has declined to protect them. The only way to get AMEX to follow the LAW is to sue them. The only people who have gotten a dime from AMEX took them to small claims court. AMEX is the worst CC out there - consumers beware!

Re: A CyberRebate Christmas - $1,000 Coal in Your Stocking
Posted by: cathy 2001-11-07 20:36:15 In reply to: Keith Regan
Have to say that Credit Card companies need to eat the promises on's bankruptcy. They've put a lot of financial pressure on many families by doing business with these slimy crooks. Reg Z specifically states that items that were agreed upon at the time of purchases. You should do a follow up on lawsuits now!!
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