Looks like CellNuvo did something sneaky while returning swap points

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5 months 4 weeks ago - 5 months 4 weeks ago #38437 by peterquinn
I had put in for a 1-month swap which was due to be cashed out in May. CN delayed by another month with the holiday-backup excuse. Now they have canceled the swap and returned the points. But here’s the sneaky part – they have returned the REDUCED-rate points. So now, if I want a 1-month swap, I will get even less money. So CN has used the delay excuse to devalue our points even further. I am, as Hungry-Hog put it, quite disgusted!

Edit – an example might help to show their sneakiness – suppose you had $50 or 50,000 points On April 2, you put in for a 1-month swap at their rate of 1750:$1. So on May 2, you should get an e-check for 50,000/1750 = $28.57. CN delays the e-check and “returns” your points in June – but, like they have done with me, they only return 28 dollars instead of your original 50 bucks.

So now, when you put in for a swap, you can only swap out $28 instead of the $50 you had. I think that’s real sneaky on CellNuvo’s part! They have made 22 bucks disappear from your account!
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5 months 4 weeks ago #38439 by Nunodat
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5 months 4 weeks ago - 5 months 4 weeks ago #38440 by mmfacemm
So you are saying you swapped 50,000 and only got 28,000 returned?

I wonder if you did a 6/9 month you get more points back?

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5 months 4 weeks ago #38441 by Nunodat

mmfacemm wrote: So you are saying you swapped 50,000 and only got 28,000 returned?

I wonder if you did a 6/9 month you get more points back?

peterquinn wrote: Edit – an example might help to show their sneakiness – suppose you had $50 or 50,000 points On April 2, you put in for a 1-month swap at their rate of 1750:$1. So on May 2, you should get an e-check for 50,000/1750 = $28.57. CN delays the e-check and “returns” your points in June – but, like they have done with me, they only return 28 dollars instead of your original 50 bucks.

So now, when you put in for a swap, you can only swap out $28 instead of the $50 you had. I think that’s real sneaky on CellNuvo’s part! They have made 22 bucks disappear from your account!


No, you don't get an increased return forvlonger wait.

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5 months 4 weeks ago - 5 months 4 weeks ago #38442 by mmfacemm
Yes one of mine is the same. I did a 2 month swap for 10500 points ($7) and a 4 month swap for 5000 points ($5) and got 12,000 back.

I guess that is their "unsubsidized rate" bs.

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5 months 4 weeks ago #38443 by mmfacemm

Nunodat wrote: No, you don't get an increased return forvlonger wait.


I'd be interested to know for sure from someone who did a 6/9 month swap.

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5 months 4 weeks ago #38444 by peterquinn

mmfacemm wrote: Yes one of mine is the same. I did a 2 month swap for 10500 points ($7) and a 4 month swap for 5000 points ($5) and got 12,000 back.

I guess that is their "unsubsidized rate" bs.


Yup, that's their sneakiness - you had a total of 16,500 points = $16.5 before you put in for a swap. Now they delay and give you only $12 back.

And then to actually get an e-check for $12, you will have to take a further rate cut for a 1-month swap, which they will delay by another month, then "return" your reduced points, and the circle will go on for ever until there is nothing left in your account.

Nice money-making scheme for CellNuvo!

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5 months 4 weeks ago #38445 by Nunodat

mmfacemm wrote:

Nunodat wrote: No, you don't get an increased return forvlonger wait.


I'd be interested to know for sure from someone who did a 6/9 month swap.


If you did 6/9 month swap, the points returned are at the 1000:1 rate. Your points are not increased.
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5 months 4 weeks ago #38446 by KentE
I thought I noticed the same thing with one of my accounts last night, with the points being returned at short-duration-swap-value.
But, on my account, that isn't quite what is actually appearing.
I have one 2-month swap that hasn't matured yet-- it was returned at original point value. (The swap request cancelled out.) .
I have 2 short-duration swaps (1 instant, 1 x 1 month). Those 2 haven't been returned to the point value at all (as of last night). They seem to be in stasis, with the converted swap value still showing as Your $$ (or whatever the top line is-- I don't have my phone.)

The result seems to be the same: my points have already been converted at short-term rates, and no way to even do a short-term payment request for that value.

I think this is an honest mistake. There is no reason I can see to return full point value for a duration that hasn't matured yet, and a reduced value for one that had already matured & requested payment.

The only other explanation I see is that we're expected to wait for the short-term coffers to be refilled, and repeat our request for a payout at the original converted short-duration rate. Presumably, those coffers would refill as payments dribble in from the ad vendor.

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5 months 4 weeks ago #38447 by peterquinn
KentE wrote: "I think this is an honest mistake."

I hope they correct it soon! I'm very frustrated by the way CN has been treating us and giving us the runaround.

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