Anybody else getting hosed on AP's 9% interest? [Archive]

ShiftyFifty

11-09-2007, 01:33 PM

I usually keep around 18-25k at AP. For 1 month at 9% annual interest, I figure I'm due for around $150. Instead I get $26. Am I missing something here besides about $125?

Lucky

11-09-2007, 02:13 PM

yeah, i think you can't have made a withdrawal recently. call and get specifics, but when they told me I remember thingking wtf, i'll never see any interest.

ibluffoldladies

11-09-2007, 02:20 PM

hah, you mean you don't know all the **conditions/details until they screw you over?

jkpoker

11-09-2007, 04:10 PM

its a cool idea but its not that effective the way they have it set up

Suigin406

11-09-2007, 04:13 PM

i haven't looked into this much other than what i read here, but i'm not surprised this interest deal is not nearly as good as i thought, also not surprising that absolute is misrepresenting something

cassette

11-09-2007, 04:19 PM

To be fair all the conditions are clearly stated on their website. 9% interest only gets paid if you do not make any withdrawals or transfers during the month. Not sure why you would get underpaid though. Seems like you would get nothing.

zen_rounder

11-09-2007, 04:41 PM

wtf is anyone doing playing on AP??

boohaa12

11-09-2007, 04:46 PM

[ QUOTE ]
wtf is anyone doing playing on AP??

[/ QUOTE ]

or trying to gain high interest on 25k lol.

RikaKazak

11-09-2007, 05:02 PM

[ QUOTE ]
wtf is anyone doing playing on AP??

[/ QUOTE ]

Seven_of_Cups

11-09-2007, 05:50 PM

[ QUOTE ]
wtf is anyone doing playing on AP??

[/ QUOTE ]
+2

manupod

11-09-2007, 07:07 PM

I'm not good at this stuff, why did I not get 9% of roughly $20k? Instead I got $371 to my bonus account for Oct_VIP_promo?

Can someone tell me the VIP phone number please?

Pokeraddict

11-09-2007, 08:04 PM

Is anybody surprised this looks to be a scam too? It seems like this was just a way for AP to get high limit players in they could steal from. I have a feeling this was no coincidence that it started about the same time as the cheating.

ibluffoldladies

11-09-2007, 08:17 PM

[ QUOTE ]
Is anybody surprised this looks to be a scam too? It seems like this was just a way for AP to get high limit players in they could steal from. I have a feeling this was no coincidence that it started about the same time as the cheating.

[/ QUOTE ]

QFT. If there are detailed terms and conditions you have to follow to achieve 9% interest, and those terms are posted, then I'd stop short of calling it a scam. Misleading is a term that fits more. As others have stated, this is par the course for AP, and I'm really casting suspicious glances at the posters who want to help this company regain their credibility.

RedWave

11-09-2007, 08:37 PM

[ QUOTE ]
I'm not good at this stuff, why did I not get 9% of roughly $20k? Instead I got $371 to my bonus account for Oct_VIP_promo?

Can someone tell me the VIP phone number please?

[/ QUOTE ]

Oct_VIP_promo is the payout for the $1 every 50 Vip points earned that month.
Edit: Same goes for the OP.

manupod

11-09-2007, 08:51 PM

[ QUOTE ]
[ QUOTE ]
I'm not good at this stuff, why did I not get 9% of roughly $20k? Instead I got $371 to my bonus account for Oct_VIP_promo?

Can someone tell me the VIP phone number please?

[/ QUOTE ]

Oct_VIP_promo is the payout for the $1 every 50 Vip points earned that month.
Edit: Same goes for the OP.

[/ QUOTE ]

So that's not the interest thing then? I want that now!

iggy

11-09-2007, 09:25 PM

The owners of a site actively engage in cheating their own customers out of money and you're surprised they're under-reporting interest payments???

Armadillo King

11-09-2007, 10:04 PM

[ QUOTE ]
I'm not good at this stuff, why did I not get 9% of roughly $20k? Instead I got $371 to my bonus account for Oct_VIP_promo?

Can someone tell me the VIP phone number please?

[/ QUOTE ]
Also, 9% annual is actually 0.75% per month...which works out to $150 for $20,000.

ikestoys

11-09-2007, 10:45 PM

omg a pokersite runs a promotion that is clearly +Ev for the site!!!!

ZOMG ZOMG!

manupod

11-10-2007, 02:42 PM

Hey guys, it's worth a call over there if you haven't been paid yet. They weren't going to pay me because I have a withdrawal completed on Oct 1, but then I showed them the email where it was requested on Sept 30, so now, apparently, my request was forwarded to some corrupt Costa Rican so he can deposit a few hundred in my account and give me super user privileges.

manupod

11-10-2007, 03:46 PM

Wow, just got an email saying they aren't going to pay me, because the withdrawal took place in October, even though I requested it in Sept.

In conclusion- peace out Absolute Poker.

ShiftyFifty

11-11-2007, 09:21 PM

Finally, resolution.....

Dear Mr. Chamberlin, Thank you very much for your patience. Seems like the 9% interest was not credited accordingly this month, however, we are pleased to inform you that it has been corrected already. The total amount you were entitled to receive is $155.51, you only got $26.25, because of this, we will add the missing $129.25 into your account in the next couple of hours to complete the amount. We really appreciate your understanding. Have fun at the tables! If there is anything else we can help you with, please let us know. Sincerely, MaryAbsolutePoker ~ VIP HostVIP@AbsolutePoker.com

thepizzlefosho

11-11-2007, 09:33 PM

I got shorted by about $15, but didnt feel like it was worth the hassle. At least they deposited most of it in my account.

KSOT

11-11-2007, 10:30 PM

Just think about how much money the other sites make by keeping the interest from our money. That should be enough by itself, forget the damn rake.

mo42nyy

11-12-2007, 02:51 AM

are you serious? lets be generous and say they make 10 percent on your money anually
you have 10k in the account
In a month theyll make 83 dollars off of you
Are you really only paying 83 dollars in rake?

jkpoker

11-12-2007, 06:17 AM

I Personally wouldnt trust 25k in a poker account to try and get that 9% when you can withdraw it and get 5-6 on just savings accounts and CDs.

R*R

11-12-2007, 07:29 AM

[ QUOTE ]
[ QUOTE ]
Is anybody surprised this looks to be a scam too? It seems like this was just a way for AP to get high limit players in they could steal from. I have a feeling this was no coincidence that it started about the same time as the cheating.

[/ QUOTE ]

QFT. If there are detailed terms and conditions you have to follow to achieve 9% interest, and those terms are posted, then I'd stop short of calling it a scam. Misleading is a term that fits more. As others have stated, this is par the course for AP, and I'm really casting suspicious glances at the posters who want to help this company regain their credibility.

[/ QUOTE ]

Typical Absolute Scam