Big Companies Who Are Making Efforts Toward Economic Betterment
It’s been quite a while since I’ve stepped into a cell phone store, but if I recall correctly, the last time I upgraded my phone I received a rebate check made payable to Kelsey Bollinger. This time, however, Verizon sent me a Visa debit card. This card can work the same way as the personal check and I can deposit it into my checking or savings account.
But, I won’t. I’m going to use it just as I would cash. Besides, I said goodbye to that money a month ago when I paid for the phone, so my bank account won’t know the difference. This makes me wonder if Verizon is trying to help stimulate the economy.
It isn’t cheaper to print and mail cards instead of a perforated piece of paper. I know because I do a lot of printing. And I really can’t imagine that folks march into the Verizon store with their rebate for further upgrades and accessories.
Could Verizon be looking out for our economic health? Maybe. Hopefully.
IBM took a different approach at trying to stave off the economic bear. They made an early announcement of their 3rd quarter earnings hoping to encourage investors.
What have other large and influential companies done to help?
These are some great questions. I do like that they are giving out visa debit cards instead of checks. As you said, it encourages people to use them as cash instead of just putting it in their bank accounts and leaving it there. Good post.
This is a great thing Verizon is doing, and I do wonder if they’ve started doing this to help the economy, but this is not a new idea in the cell phone industry. I noticed it for the first time back in 2005 with Cingular. I had bought a cell phone and I received my $50 rebate check as a Visa debit card with the Cingular logo on it (crazy enough I still actually have it). The down fall to this is you have to keep track of the exact amount you are spending, unless things have changed since I last got one. The card does not stop working once you have reached your limit. I used the card twice and actually went over the $50 limit the second time by a few dollars. Next thing I knew I had an “over draft fee” on my next cell phone bill with a $20 or so penalty. Quite sneaky I tell you! In case things haven’t changed and if things aren’t different between cell phone companies, make sure to keep close track of what you exactly buy with your rebate visa card.