Hi everyone,
 
As of June 13th, 2022, Associate Members will no longer collect EVGA Bucks on purchases.  EVGA has launched a new program to allow EVGA Buck owners to convert their existing bucks to cash.  Associate codes may still be used for discounts at EVGA.com store.
 
See more details at:  https://www.evga.com/articles/01568/evga-bucks-for-cash/

B0baganoosh
Question for you. So how would associate code holders get discounts? If the idea was that people with an associate account got BUCKS from people using their code, but they couldn't use other people's codes (double dipping). Now they won't get BUCKS anymore, but can they use other codes to get a discount on future purchases?

Good question.

EVGATech_LeeM

B0baganoosh
Question for you. So how would associate code holders get discounts? If the idea was that people with an associate account got BUCKS from people using their code, but they couldn't use other people's codes (double dipping). Now they won't get BUCKS anymore, but can they use other codes to get a discount on future purchases?

We updated the program to allow Associates to use other Associates' codes to get a discount.  If you guys try this out and run into an issue, let us know.

OK. Can I use my own code? There'd no longer be any benefit to anyone else for me to use theirs and if you just need a code from anywhere to get a discount, I'm don't see why that'd be locked. And if that's the case, you could just extend it to automatically give discounts if they have a forum membership...or you could lock it to "Elite" members...unless you're about to write a post about killing that program too. I'm not trying to cause trouble, just a bit startled by this news and wondering how far it goes.

Looks like the EVGA Bucks program is Closing on - September 13, 2022  ?  

See more details at:  https://www.evga.com/articles/01568/evga-bucks-for-cash/  
 
(excerpts, underline added for clarity) 

1) Members can continue to use EVGA Bucks for any eligible purchase through and including orders placed and paid for on or before September 13, 2022; OR  

2) The EVGA Bucks Tender offer will be open until September 13, 2022. EVGA Bucks not subject to Tender or used by September 13, 2022 will be voided. 

Payments due to members electing to Tender will be made by EVGA exclusively through PayPal, net of PayPal handling fees. Members electing to Tender must have a valid PayPal account. Payments will be processed not later than October 13, 2022.

Dang!

Nereus
 
Wow! That's news!
 
Massive thanks to EVGA for having this program, and much appreciate that members are given an opportunity to use their EVGA Bucks one way or another before the program ends.
 
I have to wonder about the September 13th date.. could that be when the 4000 series launches?
 
..and OMG, how much does that Enewt have - I'd imagine he's looking at at least a $50k cash payout.
 
Which brings to mind the next question - will these cash payouts be considered taxable income and reported to IRS?
 
 

Lol right? Enewt is looking at a big payday.

Is there any benefit to someone having their associates code used? Raise in EVGA score or something?

Well I am disappointed, for sure.

Nereus

EVGATech_LeeM

Nereus
Which brings to mind the next question - will these cash payouts be considered taxable income and reported to IRS?

This information is listed in the T&C of the program.  The answer is yes, depending on how many EVGA Bucks will be converted.

Thanks Lee. As Tresnugget mentioned, will the EVGA Score still continue based on EVGA Bucks, or will that go out the door too?

We're updating the Queue 3.0 text today, but essentially yes, lifetime EVGA Bucks earned still count permanently towards your score.  Going forward, you will not be able to earn more EVGA Bucks to increase your score, but you won't lose points either for using or converting your EVGA Bucks.

EVGATech_LeeM

B0baganoosh

Nereus
I have to wonder about the September 13th date.. could that be when the 4000 series launches?

Yeah, I've been wondering that too. Either EVGA is trying to give everyone one last hurrah and the 40-series is launching by Sept 13 or the launch is no sooner than Sept. 14th and they don't want everyone's accumulated BUCKs going there. Better paying half of them out, clearing old inventory of other things, or getting a tax write-off for charity donations (I'm not advocating against donations to charity btw!) than losing income on the new products. Of course, only EVGA could actually tell us which side of the coin that is.

I realize people are going to speculate because of unofficial launch dates for unannounced products, but June 13th is the date we began the EVGA Bucks program 19 years ago, and we feel 90 days is a fair and sufficient amount of time for people to make decisions about how they would like to use or convert their EVGA Bucks.  No matter what date we pick, there will always be something unofficially launching in the future that makes it look like we're targeting, even when it's not the case. 

Fair enough, Lee. I couldn't help but wonder. Don't get me wrong, I appreciate having 90 days a lot more than no days or only a couple weeks or something. I'm sad to see the program get killed. It has been a huge benefit and a major selling point for EVGA as a brand that they were willing to do something like this for their community. I wish we could be told why this was being killed, but I understand you may never be able to say that.

EVGATech_LeeM

Nereus
Thank you, much appreciated.
 
Is there an option to donate *some* points to charity? At the moment it appears to be all or nothing. Might be a headache for EVGA to administer a piecemeal approach though.

Unfortunately, it's an all or nothing approach to this one. 

No worries, thanks for answering our questions. Cheers.


 

 
:x
 

electrosoft
The main question is WHY is the program being sunsetted? What's the logic behind it (besides $$$$ to the bottom line)?
 
Outside of a small discount using the code, what other advantages are there now? I do like being able to apply my own code for a discount now. I suspect this will cut down some of the negativity and competitiveness on the forums as people get pretty salty with others who happen to be doing very well with the program.
 
How does this effect the EVGA ranking system for que?
 
It makes better sense to apply EVGA bucks towards purchases than cash out as it is a 2:1 cash out ratio and you're subject to any PayPal deductions/issues (along with extra tax issues).
 
Hopefully enewt will get his KPE 3090ti by then He truly made the whole pandemic / mining / GPU scarcity 2yrs of blah slightly better following his posts and positivity. I truly enjoy his posts.

My best guess is that EVGA sales direct to consumers via the online storefront became a greater portion of their overall sales than originally anticipated (due to the supply constraints, increased in pandemic-related demand, etc.) and the growing volume of outstanding EVGA Bucks was creating a problem for the bean counters. Direct sales to consumers = benefit to EVGA. Huge impairment on the books due to outstanding EVGA bucks = not as good.  A 2:1 valuation for the EVGA Bucks seems more than reasonable…so kudos to EVGA for seeing the program through to the end; well done!
 
electrosoft, thanks for the kind words re my posts. Being part of this community is a joy in my life and I am very grateful to our forum members for helping make the 30 series watch go by faster and easier than it otherwise would have. I hope we continue this collaborative environment going forward.

Nereus
 
Wow! That's news!
 
Massive thanks to EVGA for having this program, and much appreciate that members are given an opportunity to use their EVGA Bucks one way or another before the program ends.
 
I have to wonder about the September 13th date.. could that be when the 4000 series launches?
 
..and OMG, how much does that Enewt have - I'd imagine he's looking at at least a $50k cash payout.
 
Which brings to mind the next question - will these cash payouts be considered taxable income and reported to IRS?
 
 

 
Any income from any source would need to be reported to the IRS as income.
 
As for the September 13th date I personally wouldn't hold much hope of the products being for sale that day even if it was the launch of the 4000 series. Keep in mind the product must be ordered and paid for on September 13th or before to not lose the money.

Yes thanks EVGA for running the program this long; I wish I had paid attention and used it sooner.  :)
For some members here the kickbacks were better than the discounts.  For the rest of us, one high-end GPU discount will beat it.