anyone heard of Lyoness?? cashback loyalty company--thoughts

[lizamarie]

I was at one of my jobs last night when a resident's family members approached myself and another coworker and went on about Lyoness. Apparently its big in Europe but just starting in USA and Canada. Its a cash back loyalty club/income making opportunity I guess depending on how many people are referred by you. I'm still researching it as i am not a fan of having to "recruit" others just so I can make some money. But if I spend money anyways at these store I guess I might as well get some kind of kickback (2%cashback)

part of email he send me--"Let me introduced you to Lyoness… the world’s largest shopping network. I asked if you would be interested in learning how to turn your day-to-day business and personal living expenses into income? Unlike numerous other loyalty programs, with Lyoness there is no cost to join and there is no cost to maintain membership. Also unlike other loyalty programs and unique to Lyoness you have the opportunity to create a passive income. Have a look at this 3 minute video that explains the Lyoness opportunity. Click here:




Lyoness is now over 10 years old in Europe, (relatively new to North America) and has over 150,000 merchants and 3.3 million members worldwide. Lyoness pays members cash back on purchases made through Lyoness Loyalty Merchants. Some of the more local merchants include Canadian Tire, Cara Restaurants, Cineplex Odeon, Home Depot, all Loblaw’s brands, Longo’s, Petro Canada, Pizza Pizza, Shoppers Drugmart, Starsky, and Subway’s. It also provides the opportunity for members to create a passive income. To be honest… nothing happens unless people shop through Lyoness Merchants for their day-to-day household and business needs."

Has anyone else heard of this and what are your thoughts???

I googled it and read some reviews but it can't be a pyramid scam if all the name brand companies are a part of it. To me it sounds no different then when I buy GC at shoppers when it is bonus 8000 points but with this company I could have the opportunity to actually make a little income. He says right now he's bringing in around an extra $125 month but with more and more referrals it goes higher cuz they are also spending money and you make a profit off when your referrals spend too.

Thanks

[xlxo]

My thoughts...

• who are the Lyoness merchants?
• have you seen any Lyoness merchant decals at the places you shop?
• how often and how much do you plan to spend at Lyoness merchants?
• You assume it's 2%. What is it really? Would you sign up your private information for 0.02%? What if it's 0.00002%?
• there are credit cards that give you back 1% for no annual fee. You can get even more cash back if you do pay an annual fee. If you pay for car insurance, home insurance and a few major repairs on your credit card.... I can justify the fee. Unlike Lyoness... there are MANY more merchant choices.
  https://www.cibc.com/ca/credit-cards...ack-cards.html
  http://www.tdcanadatrust.com/product...dType=personal

[xlxo]

OK.... I saw one retailer in my area now advertising Lyoness. It's promoted at 2% return. However, it's limited to REGULAR price items. When he puts an item on sale... it's not eligible.

At 2% basically it's a "cash discount" that he would otherwise need to pay credit card companies. Sometimes when making a purchase, you can ask retailers if there is a discount for not using a credit card. If they say no, bring out your credit card and they will have to pay 2% or more to credit card companies anyways.

Hmm.... I wonder if Lyoness purchases can be made with a credit card as the retailer would be double-billed.

Here's a tip... if you wanna see huge cash back returns... put your money in an RRSP.