Wednesday, October 1, 2008

Entrecard's new policies affects blog contests

The Entrecard team has released an announcement about changes in it's economy.

Of the eight changes enumerated, #4 and #5 are the ones to greatly affect blog contests that give out Entrecard credits as a prize.

  • Credit transfer limits: Members are allowed to make a maximum of 14 credit transfers a week, up to a maximum of 1,000 credits, whichever comes first. This means you can still run contests where you give credits away for free, and under 1k per week. Note: This does not affect linked blogs, you can transfer unlimited credits between linked blogs.
  • Transfer tax: From now on, all transfers, including transfers made with our new payments API, will be taxed at a rate of 12.5%.

If a contest sponsor would like to give away more than 1000 credits, he/she would have to give it on installment.

And, because of the tax, unless the sponsor will ADD 12.5% when transferring credits, the winner will be receiving 12.5% less of the promised prize.

For more information on these changes, visit the Entrecard blog.


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