Frugal Travel Guy reports that Restaurant.com gift certificates are on sale 80% off today (Friday) only:
The $25 off coupon is normally $10, but today only 4 AM Central Time to 11:59 Central Time, the coupons will be only $2 each. Good for one year from date of issue. Stock up now for the restaurants of your choice. You must use the coupon code FIRST. This price is good only today 08/08/08 and represents 80% off.
Of course, this is only useful for restaurants you’re reasonably likely to eat at anyway while complying with the gift certificate’s restrictions. But a good opportunity to browse the choices for sure.
I’m told that most of these restaurant programs are like crack for the restaurants. They give the restaurant 25-50% of the cash value of the coupon (and that’s it), so basically the restaurant is paying absurd usurious interest rates. It used to be that the restaurants actually got cash advances from these programs, again at crazy implied interest rates.
Last time I looked (years ago), many of the restaurants in these programs were soon out of business. I realize that the restaurants go in with their eyes open, but the idea of using these at restaurants I like horrifies me – I actually want my favorite restaurants to be profitable and to stick around!
If the restaurants are using it as a way to gain new customers who will then the regular price, that’s another thing completely.
What a great deal especially for the restaurants located in the Las Vegas hotel casinos. We go there regularly and nice to save a few bucks back after gambling a few away. Especially good deal for the places in Mandalay Bay and Palazzo.
I am sure these are not gonna go out of business being in a casino.
Thanks!
This deal has been extended through Sunday, Aug 10 – same code FIRST.