I got the 12% coupon also. I last renewed my membership in May '05 for two years at $14.99.
I called them up and they're going to issue a $5 refund in the form of a certificate.
Anyways, yeah, it sucks how it was lowered to 2%, but that's probably because they started the new Reward Zone Mastercard. You get 150 points for every dollar you spend at Best Buy when using it as credit, you get 100 points per dollar when you pay another way but show the card, and you I think you get 30 points per dollar spent outside of Best Buy.
So right now:
In Best Buy, if you use the credit, you'd be getting 5%. (Spend $100 x 150 points = 15,000 points = $5 certificate), and 3.33% for other payment methods, and 1% for purchases outside of Best Buy.
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Sorry about the bad info I posted earlier. I got a little confused by something.
With current system, you get 1 point for every single cent you spend (so a purchase of 49.99 gets you 4,999 points), and you need 15,000 points to get back $5.
With the upcoming new system, you get 1 point for every dollar you spend, not cent. You'll need 250 points to get back $5. I think this will make it worse for us as points will probably be rounded down. So I'm guessing that, let's say you buy something for $39.95, you'll probably only get 39 points for that.
So here's the thing, I asked and they told me that we'll still be getting 5% back with the MasterCard. That would mean that you'd have to get 2.5 points per dollar spent or there will have to be some seperate point system for the credit card, or what the guy told me is wrong.