I mentioned recently that there is a new rewards program out called Savings Register Rewards, another site “powered by Memolink” like PCHPoints and LuckyPoints. It’s a carbon copy of the other two sites, as a matter of fact — same points offered, same costs to redeem, same terms of service.
Memolink’s affiliation with PCHP and LP has been a concern to some, as we all know about Memolink’s tense financial situation. But we’ve been assured that PCHP and LP would not have the same payment difficulties, as they were financially backed by Publisher’s Clearinghouse.
So, who backs Savings Register Rewards?
You’re not gonna like this.
The URL “SavingsRegisterRewards.com” is registered to SilverCarrot, Inc… who are the same folks who own…guess who…MILESOURCE!
Yep, that’s the same Milesource that at least doubled the cost of its participants to cash out just a few weeks ago. They’re the financial backers of Savings Register Rewards. And the guys operating it are Memolink, widely touted as a fraud for not sending rewards and for cancelling accounts (and thus outstanding redemptions) to reduce their debt load.
Interesting bedfellows, don’t you think?
Why did SilverCarrot lease Memolink’s software (and technical staff? not really sure what it means to be a licensee) to run their new rewards program? Could be a couple of reasons. 1. Maybe Milesource’s rep is so tarnished, nobody would want to join it if their name was attached? 2. Maybe no one at Milesource could modify their own software (changing names, logos, etc.) for SavingsRegisterRewards? 3. Maybe SilverCarrot is planning to merge/partner with Memolink, maybe phasing out Milesource altogether? 4. Maybe Memolink’s software is just easier to customize and it’s more cost-effective to license out the technical side.
HellifIknow. But I did email one of SilverCarrot’s VPs, and I hope he will enlighten us.
Meanwhile, use good common sense when it comes to all rewards programs. Don’t put all your eggs in one basket so you don’t lose it all should that one program go under. Don’t carry a huge point balance in any program. And right now, the smaller programs are the ones with the best reputations: QuickRewards, ClickToTheMagic, and CreationsRewards. Please see my reviews of (and users’ comments on) all of these programs before you decide where to earn larger amounts, like shopping and signup rewards. And I’m here if you have any questions at all — just mail me.
