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PROMO: 60% Credit Promo Codes Raffle For Kiva Started by: Squishy on Sep 18, '13 23:30

We will be raffling off a some huge bonus credit promo codes (I encourage you guys to work together in teams to bank the most from this huge promo code).

The highest bid will get a 60% promo code.
The 2nd highest bid will get a 55% promo code.
The 3rd highest bid will get a 50% promo code.

100% of what is raised from the promo code will go towards Kiva.org and stay in kiva.org

To bid, simply post in this thread (Reachable by Comm Menu, News & Info).  We will start the bidding in minimum 1 dollar increments with bidding ending Saturday 23:59:59(ish).

(If you are not familiar with kiva, imagine a charity where you loan small amounts of money to upstart small business owners in third world countries who don't have access to proper banking.  They get the money, invest it in their business, then pay you back, you then take the same money you got paid back and reloan it to someone else.  Rinse, repeat.  Its a  really cool program many of us at MR have been involved with since day one. Feel free to check it out at http://www.kiva.org/invitedby/MafiaReturns )

If you are not familiar with the promo codes, they work like this:

Lets say you get a 50% promo code and apply it to a $100 dollar purchase. If you purchase 100 credits, you will receive a bonus of 25 free credits (25%). Giving you a total of 125 credits. Plus another 50% of the 100 from the promo, for a grand total of 175

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Example bid:

 

I bid $1

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I bid $20

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Question.

The bidding, does that determine the price of credits you will be receiving? Or does that determine the the percentage of the promo code you would be receiving?

So in a way, you would need to outbid everyone, pay that, then get your promo code to use? Or will the bidding determine the money given and transferred over through credit form?

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You are essentially buying the code.  If the winning bid is 50, that person pays 50 dollars and gets the 60% promo code to use on a credit purchase they can later (no expiration date).  The guy who bids 49, gets the 55% promo code, guy who bid 48 gets the 50% code.

The money used to purchase the codes does not go towards your credit purchase.

I take the money they used to buy the codes, and I keep recycling that into kiva over and over and over.

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I bid $30

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I bid $35

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I bid $50

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I bid $70

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i bid 200

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So far:

1st:  60% $200 Tony_Accardo (Wow!)

2nd: 55% $70 Perrin

3rd: 50% $50 Prozac

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Ill bid $80

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Why wouldnt I just spend 100 dollars on the site and make use of the promo code I receive via email? Considering you receive the initial investment back at a future time? Would the discount  on top of original wager be more than the instant return from promo codes and site discounts?

Obviously other than appealing to those who donate to every charity does the maths add up?

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Perhaps I am miss understanding the process ........

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The proceeds go to a good cause, there is no math in that.

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Well that escalated quickly. 

I bid $210
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Basically yogaflame you're helping people in countries who don't have the opportunities we do so basically you're bidding for a promo code but your money goes to a good cause , So if you bid a good amount not only do you get a nice bonus but you get to know you helped someone less fortunate.

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im well aware of the concept of charity. but the charity is a loan amount.

 

I was wanting to clarify the point - if indeed i understand it right: you pay or give MR money who then use that money as a loan  and the individual / group receive a 60% promo code. Then the individual / group have to purchase credits in order to use the code.

 

is that how it works?

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Yes.

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Thanks mike

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