lyoness cashback card/scam?

emurph

Hi im a first time poster, i usually get an answer to any questions by searching the forum but this 'lyoness cashback card' has not really been discussed much. I went to a seminar last night as a friend highly recommened it, there definately seems to be something good about it although if something seems too good to be true it usually is. Has anyone first hand experience with this card?? would they recommened it or advise to stay well clear? Any comments would be a great help. Thanks

jonesMUFCforever

First time poster - 2 identical posts about such and such a card>
You wouldn't have anything to do with these seminars would you?

dzug1

Why would you go to a seminar to learn about a card? Things sold that way are frequently scams

emurph

Hi jones, im definatley not part of this lyoness thing yet, but i am really looking to hear what peoples thought are on it who have first hand experience because im thinking of going in on it and cant find that much negative info from people who have attended these 'meetings', the reason i posted twice is because im newbie and unsure where to post a topic like this.

dzug1 i know it sets off alarm bells when attending things like this but it seems if it does take off it would be a good thing although you would have to be a mathmatician or econimist to figure it out it, the info on it is very confusing.

creditcardhelp11

hmmmmmmmmmmmmmmmmmmmmmmmmm Troll

SnowTiger

dzug1 wrote: »

Why would you go to a seminar to learn about a card? Things sold that way are frequently scams

It appears to be some sort of pyramid selling scheme, although I wouldn't be surprised if they didn't have another name for it. From their FAQ:

1. How can I register with Lyoness?

There are two ways: An existing Lyoness member must register you. You can be registered online or via a form provided by that person. You can sign up via the form provided by a Lyoness Loyalty Partner (trading partner with Lyoness) Registration is free of charge.

Their website suggests it works in a similar way to Nectar, but appears to offer better cashback rates. However, it also mentions vouchers and gift codes a lot, but doesn't explain in what way they are part of the scheme.

Compared to TopCashBack the cashback rates are poo. As an example Lyoness' cashback for Inkclub.com is only 2%, but TopCashBack offers a cashback of 15.15%.

They mention some big names on their website, such as Tesco and PC World. But the website isn't very informative about what Lyoness offers.

SnowTiger

emurph wrote: »

Hi jones, im definatley not part of this lyoness thing yet, but i am really looking to hear what peoples thought are on it who have first hand experience because im thinking of going in on it and cant find that much negative info from people who have attended these 'meetings'...

Apparently it's free to join, so I'd assume the most you have to lose is the cashback/giftcards/vouchers you've accrued.

It just seems odd that they have to arrange seminars to explain what they offer. People cottoned on to how Tesco's Clubcard works without having to go to a special meeting to have it explained to them.

chexum

It seems to be popular in a few European countries - where internet ordering is usually less flawless, and they usually don't have things like cashback sites like topcashback/quidco, so they invented some other scheme to get some referral money from popular shops. As the purpose is roughly the same (get some share of the purchase price), but they intend to distribute to several pyramid levels, instead of giving it straight back to the customer, it's probably worse in most cases than the usual sites we all love. *plonk* as far as I'm concerned.

emurph

Thanks chexum the whole thing stinks of a pyramid, on a massive scale, their whole presentation was based around it, the only different thing with this 1 is that apparently if you put money into it you can spend it out at any time with the stores they've got on board, it's seems very strange but they're does seem good money to be made in it and it has worked in other countries, it's pretty new to over here (northern Ireland) that's why I'm interested to hear people's thoughts on it, because it has worked in other euro countries like Austria but hasn't in the likes of Croatia.

jonesMUFCforever

What is the old maxim? Oh yes if it sounds too good to be true ............ it usually is!

[Deleted User]

Sounds like a bunch of turd to me