The Iconic cashback/credit rewards + returns policy = win?

zzyss on 13/05/2015 - 13:25

Has anybody ever played The Iconic's 100 day returns policy against the Amex Cashbacks and Cashrewards? After all, if you wait out the duration chances are the transaction lifetime periods would have expired, e.g.

  • credit refund will be a credit rather than a transaction reversal, meaning that your qualifying transaction won't be affected and they can't match it up with the cashback…

  • Cashrewards will already have been paid out. They can't very well take your money back?

This would be a pretty neat scam, especially with Cashrewards paying 10%… if you had some serious dosh to "invest" and assuming nobody catches on you could earn some serious mulah. But then that would probably ring the alarm bells and the "trick" would be closed for everyone.

Just thinkin' out loud…

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Comments

  • Ughhh on 13/05/2015 - 13:33
    +8

    Can you imagine if there was an 'ACCC/fair trading' for retailers, to report customers. Customers would be boycotted by a group of retailers, named and shamed on forums and fined by the ACCC. Lifes fair.

    • zzyss on 13/05/2015 - 13:49
      -6

      I thought that's what OzBargain was for. See: "broden" :-)

      • Ughhh on 13/05/2015 - 14:33
        +11

        Don't quite get your reference, "Broden" is broden cause he claimed he bought 3+ playstations for a really cheap price and sold them on ebay for a good profit. Broden didn't scam any one, infact it was later found he lied about buying and selling them for profit.

        When I joined OzB, I thought it was a place to share good deals and experiences with stores/products. Now every 2 weeks there's a post from entitled users whinging about how the world isn't bending over for them or giving them free stuff. Some of the things I read in the forums is ridiculous and makes me feel like Australia is a 3rd world country; using dishwashing liquid in the shower to save a few cents… come on.

        • zzyss on 13/05/2015 - 16:58

          Point being the community does attempt to call out "immoral" behaviour. I mean look at the replies to this post…

        • Adz81 on 13/05/2015 - 17:25

          ^^^^^ So much, "Yes!" to this

          (Dangit!! That was meant to be so much, "Yes!" for J's comment).

        • marka on 15/05/2015 - 00:38

          Ozbargain is going to be shortly renamed as Ozwhingepool :(

    • zzyss on 13/05/2015 - 19:41
      +1

      Let me take another bash at this from a different angle.

      Isn't it a delicious irony that capitalism essentially behooves corporates to exploit people and life for the sake of growth and profit, but when people try to exploit companies back using the same system for personal gain it's somehow "immoral"?

      Really, I admire The Iconic's marketing and business strategy as an example of Australian ingenuity, but when it comes down to it, they're just another business exploiting low-cost labour in countries such as Bangladesh in order to bring Australians "cheap" mass-produced goods while lining their own pockets.

      So what if a number of people push the system to its limits to see if something will give? E.g. that Event Cinemas deal a couple of years back where they left their discount codes out in the Javascript code for all to see? Are we supposed to reward that kind of sloppy coding? Shitstorms serve their purpose because they grab peoples attention in such a way that might cause others to assess and fix their own systems. The legal system uses essentially the same principle with punitive damages - making an example of one as a deterrent for many. Is that fair? Nope.

      I could go on, but that'll do.

  • Paul Atreides on 13/05/2015 - 13:37
    +1

    Has anybody ever played The Iconic's 100 day returns policy
    against the Amex Cashbacks and Cashrewards?
    After all, if you wait out the duration chances are
    the transaction lifetime periods would have expired

    This would be a pretty neat scam, especially with Cashrewards paying 10%
    if you had some serious dosh to "invest" and assuming
    nobody catches on you could earn some serious mulah
    But then that would probably ring the alarm bells
    And the "trick" would be closed for everyone.
    And I just wanna tell you I am

    So honey now
    Take me into your loving arms
    Kiss me under the light of a thousand stars
    Place your head on my beating heart
    I'm thinking out loud
    Maybe we found love right where we are

    • zzyss on 13/05/2015 - 13:50

      I'm a poet and didn't know it!

  • djones145 on 13/05/2015 - 13:45
    +1

    i think i read somewhere that the cashbacks usually get credited to your account after the return policy deadline
    not sure about the amex deal

  • scotty on 13/05/2015 - 14:08
    +4

    Someone has to foot the bill — be it The Iconic themselves, the affiliate network or CashRewards. Worst case — The Iconic finds cashback websites too hard to manage as an affiliate and drops them all, and no more cashback for other legitimate customers :(

    • zzyss on 13/05/2015 - 16:58

      That can be said about any scheme/loophole/pricing error that gets posted on here, yet they're tolerated to a large degree, especially if it supports some kind of moral cause against "The Man" like sticking it to Gerry Harvey.

      OzBargain cruises along in a grey area… even the most genuine and innocent promotion or discount ultimately costs customers. Obtaining "bargains", legitimate or otherwise, must by definition come at the expense of profits. Sure, some may argue that the lower price may have resulted in more sales that otherwise wouldn't have happened, but somebody has to do the math around whether the opportunity cost equals the gains. I'd venture that most of the time the answer is not actually as clear as one thinks - especially taking into account "big picture" economic factors such as price signalling (e.g. discount too much and people get used to the lower price and won't pay the higher price any more).

  • PVA on 13/05/2015 - 17:28
    +2

    so are you going to buy $10000 of clothes from Iconic and return them all a few months later?

    • zzyss on 13/05/2015 - 19:29
      -3

      I'm suggesting the opportunity could be there for anyone brave/foolhardy enough to try it.

    • chill on 14/05/2015 - 23:57

      Yes he is, with my reply landing below @zzyss and subtracting the word brave.

  • Mad Max on 13/05/2015 - 20:00

    The Iconic deserves that and more. Hated to deal with this company…and I was getting the stuff for free from the ING deal. Finished that…never again.
    As for zzyss comment "even the most genuine and innocent promotion or discount ultimately costs customers" it is true, but it is the ones than can't be bothered to do their homework that will pay for the ones that do. I bet most Ozbargainers fall in the 2nd category.

  • mkheav on 01/06/2015 - 00:57

    This does not work. I buy from The Iconic quite often and I use cash back from Cash Rewards and they will only credit after the return period. Most(all) cash back sites will only offer the credit after the return period.

  • tonka on 01/06/2015 - 02:50

    I have been curious about whether the extra 10% they give you for taking a credit on a return would perpetuate.
    ie.

    Buy shoes for $100. Bad fit so return. Get $110 store credit

    Buy shoes for $110. Bad fit so return. Get $121 store credit

    Buy shoes for $121. Bad fit so return. Get $133 store credit

    So not trying to scam them but curious. I returned 80% of my last order and expect I may again, no point wearing shoes that don't fit.

    • minniethemoocher on 03/06/2015 - 18:40

      No, also the 110% is a coupon so it can't be stacked with other offers.

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