June 2005 Archives
Every now and then I get an email from someone with a comment like:
"I shop at Milesource because I earn more points there than at MyPoints." Or, "PCHPoints pays a lot more points than other programs!"
And while these comments may very well be true, they ignore one very important aspect of the calculation -- the value of those points. More points may be worth LESS money.
I've talked about this in the past but I think it's something that needs repeating.
You CAN'T compare points across the board, from one program to another, because they have DIFFERENT point costs to cash out for the same reward! Yes, you may earn more points at Program A, but it probably takes more points to cash out there than at Program B!
An example.
Say you're going to spend $100 at Sharper Image.
At PCHPoints, you'd earn 2500 points.
At Milesource, you'd earn 1500 points.
At CreationsRewards, you'd earn 1200 points.
At MyPoints, you'd earn 400 points.
So if you just look at total points across these programs, it seems that PCHPoints is the place to shop, right? And why even CONSIDER MyPoints?
Well, here's the thing: points are worth different values at each of these programs.
At PCHPoints, 2500 points is worth about $2.91.
At Milesource, 1500 points is worth about $3.41.
At Creations, 1200 points is worth about $5.88.
At MyPoints, 400 points is worth about $3.33.
Now you can see that although PCHPoints pays the most points for this order, they're actually worth the least! And Creations, although it pays less than half the points that PCHP does, is actually the best place to shop because their points are worth more!
SOOOoooooo... PLEASE don't compare points from one program to another. It's irrelevant how MANY points you earn, what matters is what those points are WORTH.
Lecture's over, class. You may go now. :)
Freeride just upped the cost of their redemptions by 500 points (i.e., what used to be 27,500 points is now 28,000). If you already requested a cashout and you're just waiting, you may notice that it APPEARS they deducted the higher cost, but according to my friend Sunshine, who watches her accounts very closely, they didn't (they only took out what it cost at the time you redeemed). Thanks to Sunshine for bringing this to my attention!
I am very happy to tell you that Bonnie, the owner of ClickToTheMagic, is back from a brief leave to deal with some family stuff (including the birth of her daughter). She left a lengthy news item yesterday affirming her commitment to CttM and saying that she and the site ARE here to stay! The full text of her news post is below (click Continue to read it in its entirity). Congrats on the new baby, Bonnie, and welcome back!
Not a member of ClickToTheMagic? Join here!
From an email to members:
"We asked, you answered, and we listened! Members like you voted on the new look and feel for memolink.com that will be unveiled soon. The site will include new features, dozens of shopping opportunities and special members-only discounts, coupons and more!"
The big questions, though, are do they plan to tinker with the costs to redeem and will they send rewards in a timely manner. We know that they plan to make changes to their referral program. What else do they have up their sleeve?
Today Ebates sent out a survey to its members requesting their feedback on their program. The survey asks about what features of their site that you use or find valuable, how you like the site and their emails, etc. What I found most interesting is that they ask some questions about their competitors -- which ones you use more often and why. They also ask about the MoeMoneyMaker -- whether you use it and if not, why.
This is an EXCELLENT opportunity for us to join together to make our opinions known about Ebates. My comments, and I hope that you agree and will voice similar concerns, were that there were other rewards programs (many others) that pay faster. I found in my Spring '04 shopping comparison that Ebates is only "average" when it comes to their rebate rates, too. And most of all, I hope that you'll join with me in condemning their MoeMoneyMaker program -- their pop-up shopping "reminder" -- often installed without the user's permission, with a non-working uninstall option, that redirects your purchase from the rewards program you WANTED to use and sends it to them instead.
If you haven't read about MMM, here are some good articles to read: (1), (2), (3), (4), (5), (6)...oh gosh, just Google MoeMoneyMaker and read to your heart's content.
Now, to be fair, Ebates is a very reliable rewards program. They pay exactly when promised, and though I've heard some negative stories, I've had nothing but good experiences with my purchases crediting. Their referral bonus ($5 when the referral makes a purchase) is VERY competitive. And the site has a great look and is easy to navigate. If they could just address those few issues (slow quarterly payout, "just average" rebate rates, and the questionable practices related to the MMM), I think Ebates would get a lot more of my, and other folks', business.
As always, I welcome your comments.
According to a note in the Member Support page of Memolink posted on May 23, the site is making some changes to their refer-a-friend program and they're suspending the option until those changes are complete. Of course, I could insert a smarmy remark here about "why would anyone refer a FRIEND to that site" but y'all already know where I stand on Memolink.
Click Continue for the full text of the message on Memolink.
