Whats the REI dividend??

Posted by: dhock83

Whats the REI dividend?? - 03/05/08 02:17 PM

I have seen some people talk of thier REI dividend?? What is it?? I know this is most likely a rookie question, but help me out.
Posted by: Paddy_Crow

Re: Whats the REI dividend?? - 03/05/08 02:39 PM

REI members get a dividend, or rebate on their purchases. I don't recall the amount, but it's a percentage of full price items (most sale items are excluded). They also offer more if you get an REI charge card and use it for purchases.
Posted by: TomD

Re: Whats the REI dividend?? - 03/05/08 04:24 PM

Long ago in the misty past, REI was started as a co-op to buy climbing gear at reduced prices. It is still organized as a co-op, but one the size of a good sized corporation.

As Paddy said, the dividend is a year end rebate to members of about 10% of most of what you purchased, with a few exceptions.
Posted by: Bearpaw

Re: Whats the REI dividend?? - 03/06/08 06:06 AM

To add this, you don't get money back on sale items EXCEPT if you use an REI Visa. If you have the discipline to alway pay off the balance within a couple of weeks of a charge posting, it is a good investment. If not, the interest is high and can beat you up.

BUT with the REI Visa, those sale, clearance, and discount purchases will get you a 5% return. As an employee, I haven't gotten a dividend in years, because all my purchases were already discounted as an employee. Last Summer, I got an REI Visa and my dividend this year was over $50.

You also get a 1% dividend on ANY non-REI purchase, though I only use the REI Visa for gear and trip-related expenses.
Posted by: Glenn

Re: Whats the REI dividend?? - 03/06/08 07:10 AM

The REI Visa is a good deal, if you pay it off (of course, that's true for any credit card that offers frequent flyer miles or any other incentive.)

My wife and I also try to put all our gas, hotels, meals out, etc. on the card, since you get 1% or so on all purchases, and 15% on REI purchases. This year, we effectively converted about $700 of routine household expenses into REI dividends.

By the way, did anyone point out that you can spend the dividend like cash at REI? You can even get a check issued to you if you really can't find anything to buy (yeah, right - ours is already spent on a new car-camping tent and a really cushy camp bed for Karol.) However, they won't issue a check until mid-summer (July, maybe?)
Posted by: Paddy_Crow

Re: Whats the REI dividend?? - 03/06/08 07:26 AM

Yes, I think you can request a check sometime after July 1. Not sure how long it takes, I've never gone that route.

Here's a page from their website: Dividend
Posted by: oldranger

Re: Whats the REI dividend?? - 03/06/08 07:03 PM

Cash instead of gear? I would never do such a thing. That dividend burns a hole in my pocket.... <img src="/forums/images/graemlins/grin.gif" alt="" />
Posted by: BobEFord

Re: Whats the REI dividend?? - 03/07/08 06:48 PM

My dividend just showed up in the mail yesterday!

It was 8% of my puchases (except the sale items - which were most of my buys) because I used an non-REI bankcard last year.

I am waiting now for an REI gift card, $40, (for signing up to get the REI Visa) and will go for some gear.
Posted by: tchiker

Re: Whats the REI dividend?? - 03/07/08 07:19 PM

Yes my dividend and the 20% off this month will go towards a new water filter. The dividend is a nice little bonus for shopping at REI. Of course you have to take into acct their prices, which are reasonable, especially if you wait for sales. I like their liberal return policy but I mostly like the store because it's just a cool place to shop and browse and lust for gear.