Have you heard about the $400 million ebook settlement? Well, it means you might have credit on Amazon. See how much we had!

The next time you log-in into your Amazon account, you may be surprised to find you have a little extra spending money.

That’s because a class-action lawsuit has just been settled to the tune of $400 million and the funds are automatically being distributed to millions of Amazon buyers.  That means that you could have a credit to apply to your next Amazon purchase.

The average settlement credit has been around $15.

Let’s discuss what’s going on here.

You see, between April 2010 and May 2012, there were ebook price fixing incidents which meant that consumers were paying about 30% more for ebooks through Apple with five specific named publishers. Well, this has finally come to a head and Apple has settled by paying out $400 million, much of which is in the form of Amazon credits to those purchased ebooks.

How much will you get? Well, it’s pretty simple really – you get $6.93 for every New York Times bestseller e-book and $1.57 for every other e-book that you purchased.

Many are finding an extra $10, $15, $20 – even one friend had a whopping $230ish! That’s a nice surprise!

There’s two things you should do to check your credit balance – there’s nothing that you actually need to do as any affected customer will automatically receive that credit, but it’s nice to know if you have any credit available.

1. Head to the Amazon site HERE to log-in and check and see if you have any credit.
2. Consider any other Amazon accounts April 2010 and May 2012. Many people are finding that they have credit in their current account, but also in an old one that they used during this time period. We want you to get and use all of the money due to you!

Now….here’s the fun part…how much did we have in our Amazon account?

 

Drumroll please…..

 

Let me share a screenshot with you so we can all bask in the excitement brewing over here for our next online shopping spree……

Whoo hoo…I’m going to get me a pack of gum!

In all seriousness, with the plethora of free ebooks, I guess we real have rarely purchased an ebook. And in this case, only one non-best seller, thus the $1.57 credit (see above).

I actually have never been an ebook reader. I can’t stand it. I want the real, tangible pages and love to place my bookmark in my book and see where I am and where I am going. But Alex does have the first generation Kindle Fire and our eldest daughter has the very basic ereader (that has no internet or apps, simply an ereader). Well, it looks like they both have stuck to the free ebooks when the come around. 🙂

Now it’s your turn….what is your Amazon shopping spree looking like?

Sources: Inc.com, USAToday.com