PSA - Shopkick went under
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Breaking news, Shopkick is gone. Any cashed out gc can be used, no new ones.
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Some interesting comments on REDDIT. FOLLOW THE ADVICE ON CASHING OUT!
Former employee that got the news this morning - no one, including the GM of Shopkick, sales, marketing, dev, etc. knew about this. We had so much on the roadmap that was so exciting, hired 4-6 marketing experts, and had a lot of momentum in the business. But apparently the board decided they were going to pull the plug, with the decision being made likely this week. We knew things were tight, but not ‘close the whole thing down with no notice or severance’ tight.
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u/pink_sushi_15 avatar
pink_sushi_15
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22h ago
Let this be a lesson to everyone……ALWAYS redeem as soon as you have enough points for a gift card. It’s ridiculous to save points for a higher value gift card because these apps/platforms can shut down at any time without notice just like this. And then you are just screwed.I’m smart enough to always redeem immediately so I didn’t lose much.
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I had literally just the day before cashed out. Saw an offer for Nutella ice cream that was essentially free (a little better, in fact, since it was on sale). Submitted a receipt, got the points within a few hours, and redeemed a $25 Paypal that also processed in a few hours. Then the next day, poof, Shopkick was gone. In the end, I only lost about $5 worth of points, so not too bad.
Yes, the cautionary tale, don’t let your credits build up too high at any of the apps/sites, because indeed, they can vaporize without warning.
I recall what’s probably the biggest fiasco of all time, Cyberrebate. I bought some stuff there and got my rebates back and managed to avoid disaster there, too, before they blew up. They ended up basically being a pyramid/ponzi scheme. I remember reading about the lawsuits; some creditors were in the hole six figures!
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@yoregano said in PSA - Shopkick went under:
I had literally just the day before cashed out. Saw an offer for Nutella ice cream that was essentially free (a little better, in fact, since it was on sale). Submitted a receipt, got the points within a few hours, and redeemed a $25 Paypal that also processed in a few hours. Then the next day, poof, Shopkick was gone. In the end, I only lost about $5 worth of points, so not too bad.
Yes, the cautionary tale, don’t let your credits build up too high at any of the apps/sites, because indeed, they can vaporize without warning.
I recall what’s probably the biggest fiasco of all time, Cyberrebate. I bought some stuff there and got my rebates back and managed to avoid disaster there, too, before they blew up. They ended up basically being a pyramid/ponzi scheme. I remember reading about the lawsuits; some creditors were in the hole six figures!
As we know, Fetch pulled a fast one on us about 2-3 years ago, upping point values to cash out for a gift card, making already earned points less valuable. I do take issue with their charging 10-20% premiums on many decent cash outs (ie 56K points for a $50 gift card). They kind of screw you that way, at least IBOTTA (for now) is dollar for dollar on what you earn to cash out as cash or GC’s.
Fetch doesn’t even offer a cash option, best is a prepaid Visa for like 64K points for $50 another joke.
And as I recently griped about, they took away the Albertsons family of GC’s from their offereings. something I regularly cashed out for.
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@mistercheap said in PSA - Shopkick went under:
As we know, Fetch pulled a fast one on us about 2-3 years ago, upping point values to cash out for a gift card, making already earned points less valuable. I do take issue with their charging 10-20% premiums on many decent cash outs (ie 56K points for a $50 gift card). They kind of screw you that way, at least IBOTTA (for now) is dollar for dollar on what you earn to cash out as cash or GC’s.
Yeah, I’ve got way too much $$$ built up in Fetch at the moment because I can never make up my mind what to get, wanting to find the best bang-for-buck. Options with a better conversion rate, like Old Navy, for example, I already have too much of because that store tends to have lots of ways to get discounted GCs, and it’s not a place I shop that often. But I should do something soon, after the Shopkick shutdown.
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I used to save up my Fetch points too. I waited months and months, hoping that the gift cards would go on sale at one point or another, but then Black Friday passed and the holidays passed and still no redemption sale. I then had the realization that they probably won’t and it’s a more likely scenario that it’ll cost more points to redeem in the future and not less so I cashed out and got three $50 Kroger gift cards.
In the past, Albertsons gift cards did go on sale, but now Fetch doesn’t even offer Albertsons gift cards anymore.
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I never did shopkick for some reason. Anyway, this pushed me to cash out my Fetch points. Normally I wait for a $50 Amazon gift card, but did the math and decided to cash out for $25. $50 is about 91% and 25% is 89% so I figured that wasn’t a big enough difference to wait. I wish they still had the $10 Meijer for 10k. Took advantage of that often.
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@mistercheap Damn I’m so mad! I haven’t cashed out since Jan 2023. This is second app that I lost all the money. Stupid me😡
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@niniss said in PSA - Shopkick went under:
@mistercheap Damn I’m so mad! I haven’t cashed out since Jan 2023. This is second app that I lost all the money. Stupid me😡
Not to pour salt in your wound. But why would you do that?
