In my last post, I stated that “IMReportCard Removed Their Referral Program“.
I was angry that there was no official email about it, and no member of staff posted in the thread started on the IMRC forum.
Well, today, I got my answer… and unfortunately, it’s NOT a good one.
Here is the official email sent out by the Admin of IMReportCard.
I want to call your intention to a very important update at IM Report Card that took effect moments ago.
When IMRC launched last year, we really needed as many people as possible to participate so the site could get enough reviews, comments, and grades to be useful and meaningful. So we devised the credit system as a method to incentivize people to come to IMRC and use it. As you know, we also allowed people to “cash out” their credits for cold hard paypal cash.
Today we are revising the credit-based incentive system. You can no longer cash out your credits for cash. Unfortunately, we just had too much fraud when cash was involved.
Instead, you will be able to earn status icons based on your credits earned, and will be able to use your credits as virtual currency to purchase some selected internet marketing materials, or gain access to certain internet marketing sites that you would normally have to pay to access. We’re still working on rolling out this revised system so there are no other details to share right now.
Rest assured, those hard-earned credits will still have value.
In addition, we’ve also added a new free eBook on the homepage to encourage people to become members. All current members like yourself can download the ebook from the IMRC homepage simply by entering your name and the email address that received this email. You should be able to click a link to download that eBook immediately if you are logged in.
We really appreciate your continued participation as a member of the IMRC community and hope you continue to use the site often. The information and accuracy of the comments is going to get better and better by eliminating the cash incentive, so the site should provide even greater value to you going forward.
Feel free to email us at email@example.com.
All the best,
We put a lot of time and effort into determining what to email to you, but if you no longer wish to receive email from us simply click below to unsubscribe:
1675 Larimer St – Ste 640
Denver, CO 80202
The above message states that not only is the “referral program” removed from IMReportCard, but also the ability to convert credits earned to cash payments via PayPal. This means that IMReportCard no longer pays cash to its members, instead you’ll be able to convert your credits to virtual “cash” that can be used to purchase membership at internet marketing sites, or internet marketing materials.
Me, not so much…
With the delay in response from the Admins about the issue, I was certain that it was going to be for the worst, and I was right.
This change is unfair to ALL members of the site who believed their participation was earning them some extra cash.
IMReportCard has always stood their ground about being a site that’s not for “making money online” but for real reviews of products, services, and people in the internet marketing world.
While I agree with their stand, they should have launched the site this way in the beginning without offering any sort of compensation for being a member.
Would they have less members and possibly less success? Sure, but they’d probably grow with time if they did all the right things for the website SEO wise. And, the members that DID partake in the reviews of the site, would be doing so wholeheartedly, with no expectation of compensation.
My prediction for IMReportCard is that activity will drop in a MAJOR way. I’m not saying that the majority of users were there to only make money, but it definitely was nice getting something in return for your experiences and the time you took out of your busy schedules to write them.
Why would I “waste my time” writing reviews and building their content on IMReportCard for nothing in return, when I could be writing my OWN reviews here on my blog (to build MY content) or spending that time working on my SEO and SERP for this blog, which WILL make me money in return.
I’m not a chess player, but I am positive that this is one of those times that you’d say “Checkmate IMReportCard”.
I am not the only one that feels this way. Like I mentioned before, read the thread started in the IMRC forum about this exact issue and you’ll find a lot of other members that share my exact sentiments.
Forum Thread: IMReportCard – No Referral Points?
As one of the members “wahmaholic” said in that thread, all good things do come to an end.
I mentioned in my previous post that one of my referrals got banned and so left me with a negative balance of -3000 credits.
Well her balance is -28,940 since the same thing happened to her.
Is it fair to us to spend what might take hours and hours rebuilding that balance to a positive number all on our own, and only to get “memberships” and “products” in return? Mind you, they didn’t even say which ones! I think I’d rather spend my time more productively.
I have cashed out 61,319 credits on IMReportCard since I’ve been a member. This translates to $613.19!
That’s the thing with making money online, things change all the time, and you have to be ready for the change. I’m definitely ready. My run on IMRC was good while it lasted but I will no longer be a very active member on their website. My goal on this blog is to make money online, not “products and memberships”. I will use the time I spent promoting and participating on their site to focus on things that increase my search engine rank on this blog for the keywords “make money online free“.
To my referrals that signed up to this site when I highly recommended it, I hope you used it to your advantage when you had the chance. I know for sure at least one person that told me IMReportCard helped them pay for textbooks.
Again, will I go so far as to call IMReportCard a scam? Probably not, only because they stated their cause ever since the beginning. Never once did they claim to be “make money online” site. They always were a review site. The site still stands for what it is, however, participation is now free on your behalf. Unless you’re interested in ebooks you’ll never read, or internet marketing products you’ll probably never know how to use, then I suggest investing your time elsewhere.
Notice I have now removed IMReportCard from my list of ways to make money online.