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Best Buy recently started offering $50 discount coupons on every $100 spent through MasterCard credit card. Users then flocked to the website to buy Amazon cards at 50% off.

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Best Buy recently announced a deal which left many in disbelief for a few moments; you could save $50 at spending every $100 via MasterCard credit card. The deal applied to more or less all Best Buy items, with rare exceptions. As it turns out, the deal soon launched a buying frenzy on the e-retailer, forcing it to backtrack before the first day was done.

Amazon cards

Best Buy had originally launched the deal for one whole week. But right on the first day, people started buying hordes of Amazon cards for half the price, only to use them on Amazon later. Apple TV units were bought for $50, Kindle devices were acquired at the cheapest rates and users tried to lay their hands on as many products as possible.

It took Best Buy a while to comprehend exactly what was going on. The coupons were used by people a dozen times over for multiple products and Best Buy didn’t stop them. Then, a few hours later, Best Buy realized that it wasn’t that great a deal after all, at least not for the company.

So it slashed down on it, resetting the terms appended to the coupons. The new terms stated that the coupons were valid only for one day and that iTunes, Amazon or other gift cards could not be bought with the help of the coupons. Best Buy also restricted one household to 1 offer per coupon, limiting the deal to items priced $100 or more.

However, the damage was already done. One user reported buying $2500 worth of gift cards for a mere $1250, another stated that he got $1600 worth of Amazon cards for a mere $800. Naturally, those who were able to secure a stash of Amazon cards for 50% of their original prices probably fared best.

Courtesy: Gizmodo

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  On January 22, 2013(2 years, 8 months ago.)

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