As of August 1, 2019 when you shop, you'll be exclusively rewarded with iConsumer's publicly traded stock - RWRDP. For a discussion of the reasons behind this, please check out our entries over at Shareholder Academy
, especially this one
. Previously, members earned either Bitcoin or cash back (aka cashback), in addition to earning stock rebates.
Here some frequently asked questions and their answers:
What happens to cash back between July 22, 2019 and July 31?
It's Double Cash Back! Every store, every qualified purchase. We're giving everybody early notice about the simplification so that if they simply can't live without that last hurrah of cash back, they get the opportunity.
What happens to my existing cash back?
Nothing. It stays on our books, waiting for you to request it. Or, you can ask us to convert it into stock
I have less than $25 in Cash Back. How do I get a check?
First, consider converting any amount of cash back to stock
without charge or delay. Or, consider using our "transfer cash back to Bitcoin" feature. But if you really want that check, just keep on making purchases like you always did. If you have over $7.50 in cash back as of July 31, when you've earned an additional 100 shares of stock, we'll send you a check. Less than $7.50, you'll need to earn 125 more shares.
How much will it cost to transfer my stock to the transfer agent?
After you've earned 1,000 shares of stock or more, we'll transfer those shares to the transfer agent for free. If you want to transfer fewer than 1,000 shares, there will be a charge.
How much will it cost to transfer my stock to a stock broker?
If you want to transfer 5,000 shares or more from the transfer agent to a stock broker, it's free.
What's happening to the price of the stock in the offering?
On August 1, 2019 we're raising the price of our stock from $.15/share to $.18/share. We're also raising the minimum investment amount to $1,000.
How will this affect the price of stock in the stock market?
We don't forecast the price of stock in the stock market. We hope that it helps the price go up, in part because if you want to invest less than $1,000, the two easy ways are to use iConsumer more, and buy the stock in the stock market.
Is there any change in Earned vs. Pending stock or cash back?
No. We still need to wait at least 90 days for stores to pay us and to tell us if you've returned a purchase. Until 90 days have passed from the purchase date, your stock or cash back will remain Pending.
What about purchases that haven't been reported yet?
If the purchase date is before August 1, 2019, you'll be credited with cash back and stock.
Can I use my Cash Back to purchase stock?