Pongow.com Review Is It a Scam
As it stands today (November 2010) Pongow.com is not involved in any fraudulent activity to reel potential customers to their program, another thing i noticed while doing my research on Pongow.com is the fact the use paypal as a way to accept payments. I think this is a good thing because if pongow gets a lot of complaints from customers paypal will not allow Pongow to continue to use their service. For the record i don’t like Penny Auction websites. Pongow has claimed that they will clean up the penny auction arena with transparency which is great mission for them as a company but this does not reflect how i personally feel Penny Auction websites. Call me old fashion but i prefer the eBay model for online auctions.
Non Refundable Credits
Pongow like all the other penny auction websites use non refundable credits. I would hate to walk into a walmart or any retailer and be asked to pay them up front so they could give me credits to either shop or bid with. I think the model for Penny Auctions is designed wrong and doesn’t encourage growth. On the flip side I do think penny auctions can offer some value to people looking to have a good time kind of like going to a casino or Chuck E Cheese. Before signing up to any Penny Auction website I advise anyone reading this to read the terms and conditions if not read at least skim through it. On the Pongow.com website under their terms section found at http://www.pongow.com/terms under where it says BIDDING AND BID REFUND POLICY it clearly states Purchased and free bid packages are non-refundable. PonGows (free bids) have not cash value. I think they meant to say NO cash value. For the record the time in which i am writing this November 2010 so be sure you read the terms for yourself at the time you sign up.
How is Pongow Different From other Penny Auctions
Pongo’s team seems to be committed to making user experience as good as possible. Despite my personal negative feelings toward Penny Auction websites as a whole this commitment alone can possibly mean users of Pongow may in fact have a better experience their (pongow.com)than they would at other penny auctions websites. Pongow practices Transparency which is something i personally believe every business should practice in order to be successful. After doing my own independent research at the moment they are practicing what they preach. That being said I am not an active member of Pongow or any other Penny Auction website.
Why I think Penny Auctions are the Wrong Choice
Penny auctions use non refundable credits meaning once you spend your money at Pongow to buy credits your money is gone. Unlike eBay where customers can leave feedback and rate their experience with a particular vendor Pongow is the only vendor. All purchases of credits and bids go into the hands of Pongow. Even if you lose and then use your credits to purchase your desired item Pongow still wins. If i go to eBay and I am in a bidding war and I lose I won’t have to pay for the item nor will eBay bill me for the amount of bids I placed. In a penny auction website like Pongow if lose the bidding war i also lose my credits/money sure they will offer me my desired item but they will do this at the price they(pongow.com) set.
The Time Factor
Then you have to factor in the time factor. If you do your research on most of the winners on Penny Auction websites you will find out that majority of these winners spend hours sometimes days or weeks bidding at penny auction websites, some have made it their jobs, this is one of the reasons people say Penny auction websites are like gambling. You walk in buy credits/tokens and began bidding the difference with a casino is that you can walk out the casino (depending on the casino) with Money/ U.S backed currency. At a penny auction website your money is gone you might walk out with a IPOD or an IPAD but your U.S or country backed currency is gone.
One last fear i have and this my personal fear is that the game is rigged this is only my opinion and doesn’t reflect the practices of Pongow but as some of us are aware with some of these Penny Auction websites the owners make sure they make a profit on every single item. Pongow says they are dedicated to making their Penny Auction site transparent for the most part i believe them but that does not mean I will shop there. This article was written for information purposes only. If you want to sign up with Pongow.com don’t let me opinion stop you have fun and good luck
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