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GTM redoing their points system...AGAIN!


theskyhunter

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got this email message today.

 
Dear Bobby,

2017 is bringing with it lots of exciting changes for GlobalTestMarket and here is the first update. MarketPoints will be discontinued from April 17th and will be replaced by our new LifePoints. This will bring bigger, better and faster opportunities for being rewarded and this is just the beginning as we continue to create a better experience for you.

In the coming months, we will be creating new and exciting ways for you to share opinions relating various aspects of your life and be rewarded with LifePoints at the same time. Our new mobile app is being built and it’s looking good – keep a look out for when it’s launched!

What's the big change?
Instead of MarketPoints, you will be rewarded with LifePoints, which will be credited to your account in the same way before. These changes mean that you will be able to redeem your LifePoints even sooner.

Any existing MarketPoints will be converted to LifePoints, at the following conversion rate:

1 MarketPoint = 5 LifePoints

100 MarketPoints = 500 LifePoints

When is the change?
The change will take place between April 17th through April 22nd. You’ll see the conversion of your MarketPoints into LifePoints in your account history. Any surveys completed before this date will be credited at the old MarketPoints rate.

What happens next?
Once your MarketPoints are converted to LifePoints, you will be able to redeem them for a wide range of great rewards in our catalog. Any newly completed surveys will be rewarded with LifePoints. However, while the change is taking place, the catalog of rewards will not be available for viewing. Please refer to our HelpCenterfor additional information.Once the changeover to LifePoints is completed, we will let you know.

Thank you,

The GlobalTestMarket Team

I just don't know about this. from experiences change most of the time is not good at all.

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Yep, I'm glad I conveniently just cashed out - probably for the last time, given how long a slog it was. We'll see, maybe the changes will be for the better, but I'm not counting on it. GTM doesn't do anything "for the better", in my experience. :D

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On 4/5/2017 at 10:44 AM, theskyhunter said:

got this email message today.

 
Dear Bobby,

2017 is bringing with it lots of exciting changes for GlobalTestMarket and here is the first update. MarketPoints will be discontinued from April 17th and will be replaced by our new LifePoints. This will bring bigger, better and faster opportunities for being rewarded and this is just the beginning as we continue to create a better experience for you.

In the coming months, we will be creating new and exciting ways for you to share opinions relating various aspects of your life and be rewarded with LifePoints at the same time. Our new mobile app is being built and it’s looking good – keep a look out for when it’s launched!

What's the big change?
Instead of MarketPoints, you will be rewarded with LifePoints, which will be credited to your account in the same way before. These changes mean that you will be able to redeem your LifePoints even sooner.

Any existing MarketPoints will be converted to LifePoints, at the following conversion rate:

1 MarketPoint = 5 LifePoints

100 MarketPoints = 500 LifePoints

When is the change?
The change will take place between April 17th through April 22nd. You’ll see the conversion of your MarketPoints into LifePoints in your account history. Any surveys completed before this date will be credited at the old MarketPoints rate.

What happens next?
Once your MarketPoints are converted to LifePoints, you will be able to redeem them for a wide range of great rewards in our catalog. Any newly completed surveys will be rewarded with LifePoints. However, while the change is taking place, the catalog of rewards will not be available for viewing. Please refer to our HelpCenterfor additional information.Once the changeover to LifePoints is completed, we will let you know.

Thank you,

The GlobalTestMarket Team

I just don't know about this. from experiences change most of the time is not good at all.

They all seem to be doing this now and I really don't see the point. In the end it's all the same BS just different names and numbers.

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Global is actually one of favorite companies. I have been with them for years and have earn a nice amount of money. I hope the change will be a good one. I'll just have to wait and see. In my experience, they have paid me well, it does not take me long to earn cash and when I had an issue, I was able to speak with someone.

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It would be great with this new point system coming in if they would lower the amount of points needed to cash out from 1000 to say 500...since I find it takes forever to cash out otherwise

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I am so glad I was able to cash out today before they change things. I have a feeling they are going to reduce the value of the points again.

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I've had a battle with GTM going on for the last few months to get them to reinstate points  (to the value of £30) which I redeemed but for which the gift certificate they sent was faulty.

They promised to reinstate the points ....... but didn't.

When I queried (after months) why they still had not reinstated the points, they responded by simply saying that a) they had returned the points and b) I had redeemed them. Neither of these claims were true.

I have no idea whether this situation has come about due to their systems being in chaos or whether they are being tricky with me.

I would have to admit that they've been very good about paying in the past, so I'm hoping this is just the result of a (very) flawed system they are using as opposed to outright dishonesty but only time will tell.

I've just submitted another points redemption so I'll await the outcome as to whether they will actually pay me this time.  I have only been prepared to give them another try because of the good previous experience I've had with them.   That said, I think there is precious little chance of them giving me the thirty quid they owe me.  (You can rest assured they will have been paid for the studies which have been completed with my contribution though!)  Always works one-way with these companies, doesn't it?

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  • 3 weeks later...

its really stupid if you ask me about the new points thingy. everything is multiplied by 5. the points you get for doing the surveys and the points needed for a cash-out. ive noticed too the last week that almost all their surveys are now lower paying than they were before. an example now: 30 lifepoints  that's pennies folks! for a 20 minute survey. that my friends is not very good at all. if was it the old market points, decent. I reckon they figure that they have everyone mixed up now that nobody will notice the difference. when ever there is a change being mentioned on a panel I shudder, because I know the shoe is going to drop!

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OLD MARKETPOINTS were  5cents per point. NEW LifePoints are 1cent per point. I knew they were going to screw us like that so I cashed out 2 days before the transition started. Now they expect us to complete surveys for 1cent to 5cents per minute? NOT GONNA HAPPEN!!! The ONLY decent paying surveys are 10mins for 75points (75cents). They were the last of the decent paying  panels other than Pinecone ofcourse. Now I'll be lucky to cashout 2-3 times a year compared to 8-9 times a year  previously. 

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12 hours ago, yobry1 said:

OLD MARKETPOINTS were  5cents per point. NEW LIFEPOINTS are 1cent per point. I knew they were going to screw us like that so I cashed out 2 days before the transition started. Now they expect us to complete surveys for 1cent to 5cents per minute? NOT GONNA HAPPEN!!! The ONLY decent paying surveys are 10mins for 75points (75cents). They were the last of the decent paying  panels other than Pinecone ofcourse. Now I'll be lucky to cashout 2-3 times a year compared to 8-9 times a year  previously. 

The points are less than that, at least for amazon or paypal 75 LifePoints does not equal 75 cents, it's less.

6,000 Life Points =$50 paypal
120 Life Points = $1.00
30 =$.25
60 =$.50
90 = $.75
6 =$.05
150 = $1.25
100 = about $.83
12 = $.10
------------
amazon
1100 = $ 10.00 amazon card
2750 = $20.00  amazon card
1650 = $15.00  amazon card
110 = $1.00
27.5 = $.25
55 = $.50
11 = $.10

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  • 2 months later...
On 4/27/2017 at 11:32 AM, somelady said:

The points are less than that, at least for amazon or paypal 75 lifepoints does not equal 75 cents, it's less.

6,000 life points =$50 paypal
120 life points = $1.00
30 =$.25
60 =$.50
90 = $.75
6 =$.05
150 = $1.25
100 = about $.83
12 = $.10
------------
amazon
1100 = $ 10.00 amazon card
2750 = $20.00  amazon card
1650 = $15.00  amazon card
110 = $1.00
27.5 = $.25
55 = $.50
11 = $.10

That's not how I look at it since they began 4-5 years ago "charging" $5(100 points) for the $50 check which was 1100 points to cash out and receive the check. I see it as 1000 points for the $50, and 100 points fee for processing and mailing the check. I see all the other cash out options the same way, a fee for processing the specific cash out option. This is how it started to begin with.

The cash out options I see as "UNFAIR" are the GC (amazon, etc), bcoz they buy those giftcard codes for 15-20% less than the actual face value just like all other online or retail stores do(which is why some stores offer 5-10% discount during sales they sometimes have and they still make a profit), so GTM is double dipping on gc's they offer  which is just ethically WRONG, and is therefore a higher processing fee than a paypal cash out, so I avoid their gc options.

New LifePoints

$10 amazon=1100pts. 1000pts for the $10+100pts($1) processing fee. Plus another 15%(the discount they get when giftcards) of the $10 is $1.50 which is $2.50 total. That's a 25% processing fee for amazon and is the same for all amazon denominations since it's the most popular, they charge the most points than many other gc options available. I don't care for the other gc's offered so I use paypal which is $50 paypal=6000pts, 5000pts for the $50 + 1000 processing fee is a 20% fee plus 3% paypal fee making it 23% fee and the same for all paypal denominations.

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2 hours ago, yobry1 said:

That's not how I look at it since they began 4-5 years ago "charging" $5(100 points) for the $50 check which was 1100 points to cash out and receive the check. I see it as 1000 points for the $50, and 100 points fee for processing and mailing the check. I see all the other cash out options the same way, a fee for processing the specific cash out option. This is how it started to begin with.

The cash out options I see as "UNFAIR" are the GC (amazon, etc), bcoz they buy those giftcard codes for 15-20% less than the actual face value just like all other online or retail stores do(which is why some stores offer 5-10% discount during sales they sometimes have and they still make a profit), so GTM is double dipping on gc's they offer  which is just ethically WRONG, and is therefore a higher processing fee than a paypal cash out, so I avoid their gc options.

New lifepoints

$10 amazon=1100pts. 1000pts for the $10+100pts($1) processing fee. Plus another 15%(the discount they get when giftcards) of the $10 is $1.50 which is $2.50 total. That's a 25% processing fee for amazon and is the same for all amazon denominations since it's the most popular, they charge the most points than many other gc options available. I don't care for the other gc's offered so I use paypal which is $50 paypal=6000pts, 5000pts for the $50 + 1000 processing fee is a 20% fee plus 3% paypal fee making it 23% fee and the same for all paypal denominations.

So in other words you are feeling ripped off by them?Because I know I do.I think I will get to the 6000 and stop doing their surveys.Then see how they like making money off of me?However at the rate I'm doing their surveys it'll be at least 6 months before I can cash out.

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1 hour ago, footfree said:

So in other words you are feeling ripped off by them?Because I know I do.I think I will get to the 6000 and stop doing their surveys.Then see how they like making money off of me?However at the rate I'm doing their surveys it'll be at least 6 months before I can cash out.

Yes, which is why I mostly only do the 75pts for 10min(their highest paying) and occasionally a 100pt for 15min survey. I did cash out over a month ago for $20 paypal. I think they may have removed the restriction they had before switching to LifePoints where you had to spend 1000pts to cash out. I don't see anything in their rewards section nor faq's about having to redeem a certain amount of points before you can cash out, so you should be able to cash out with as low as 550pts with one of their rewards options, I can't remember what it is tho.

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