Posted by William Charles on October 6, 2017
Misc

Published on October 6th, 2017 | by William Charles

67

FatWallet Forums Closing Down [Repost, Officially Closing On October 9th)

FatWallet has sent out an e-mail to members announcing that the site will be closed on Monday, October 9th.

According to Tim Storm (founder of FatWallet) the FatWallet forums (and I assume FatWallet as a whole) are closing down. It’s not clear what will happen or when it will happen. They migrated the shopping portal to Ebates last year, so I guess this change was somewhat inevitable.

 

This is a pretty sad day for me personally, FatWallet is a real OG and without those forums it’s unlikely this site would exist in the same capacity. FatWallet is one of the places that really got me interested in bank account bonuses and more specifically collating data points regarding direct deposits. You can find some discussion about the forums closure here, as well as some alternatives that users are putting together. I wish the FW team and community all the best!



67 Responses to FatWallet Forums Closing Down [Repost, Officially Closing On October 9th)

  1. charles chang says:

    well, fw is dead. Most deal seekers are on SD anyway.

    • mommafrica says:

      What is SD?

    • Philco says:

      The magic of Fatwallet was not the deals section. It was the finance forums. Many of the angles we play today got their start in that forum or at least were publicized first in that forum. I would say prior to the great recession that was one of the best finance sites for financial hacks there was. The quality of contributors was very high. Over time it declined for sure and honestly I have spent no time on the FW Finance forums in years but in their heyday they were awesome. The community was also much smaller back then and the banks were less aware of us. Good times.

      • Sluce says:

        Couldn’t agree more. Good times, indeed. It was FW that lead me to the US Presidential Coin deal. Still one of my favorite deals of all time. That one is legendary.

        • Mimi says:

          OMG! how can I forget the 30% savings from Microsoft Live banner that went along with that deal?! That got DH and I started into collecting “expensive paperweight” but those gold presidential spouses coins have at least doubled the price and there’s not a lot selling them now. They must be looneys like us who just like to take out their coin collection to marvel at their beauty…lol

        • sue says:

          loved that deal….FW will be missed by all…

  2. Mark says:

    Don’t you dare to shut down Doctor! This blog has been wonderful and I learnt a lot quickly. Doctor needs to move to a forum style website. Isn’t there a free vbulletin forums with some advertisement?

    • We’ve thought about opening forums of some description before, I have a few ideas I’d like to implement but I just don’t have the time between keeping this blog updated and my real job.

      • Ken says:

        Forums are a ton of work. They never work like you want them to out of the box, and you’ll spend more time and money getting them where you want them. And the upkeep…

        I started a small forum forever ago back in college and it took almost all my free time moderating things and contributing. Besides college full time and the forum I was also working full time. I was a maniac when I was young, and there’s no way I could do even half that now.

        Most forums inevitably are bought by large management companies who employ people to upkeep and babysit the forum. Of course you can always hire out for the daily tasks once you get things running how you like them.

      • Josh says:

        As long as it’s not Discourse.

      • James C. says:

        Maybe a subreddit?

      • Adam says:

        Just hire an intern to do it for fame.

      • Jeff H says:

        I appreciate the thought, but being a regular contributor to a few FatWallet threads and OP of one that I maintained, I can recommend you not take on that task without a paid 24/7 MOD staff. I had to activate a Mod Alert all too often to keep the threads I used clean.

        I am sad to see FW go, but I understand.
        I was the last Star of the Week which I did not expect and certainly IMO some others did far more than I did.

        • Yeah if we set it up we will make sure it’s properly staffed, that’s one of the reasons why I want to wait. Congrats on being the last star of the week, I always appreciate your contributions here and on Twitter.

    • gretta says:

      learnt

  3. John B. says:

    I say good riddance. Several years ago I stumbled upon FW’s forums, in general I found the discussions to be rude and mean-spirited. I then found SD and never looked at FW again.

    • MarcoPolo says:

      @John B
      You got it backwards.
      SickDeals is the place where everyone is rude and mean-spirited.
      I was a member there initially but moved to FW as the the only deals which made them most money got posted to their “Front Page”. Later they started charging extra commission to post their deals. FW on other hand shared their profits and in the form of CashBack.

  4. CM says:

    Wow…

    What’s wrong with these new owners?! What’s the point of buying a thing only to have it shutdown in a few years?

    The main thing here is to not forget to request the cash-back, I guess, if you still have any left from their former portal, which used to pay the best commission for Priceline NYOP at one point.

    I was never an active user @ FW, but I used to find it in Google all the time, and always found it super valuable. Has that changed recently? I think it is entirely unjustified to do an Oracle here where an HPE would have been a much better option. I wonder who and how did the math — there is no way such a big site with so many users is a net negative. I guess it’s those venture capitalists that just don’t like a thing that doesn’t grow explosively, and would rather have a write-off than a steady source of minor revenue?!

    Anyhow, I hangout mostly here and on reddit, so, not that big of a loss personally, but still sad — FW has many different DPs on all sorts of topics, dating back years, before any alternatives were spawned up, so it certainly would be sad to see all that go away. Will they at least be kind enough to donate the data to Web Archive?!

    • Ken says:

      It’s pretty simple… FW was bought so that Ebates could eliminate one of their competitors. The forums aren’t profitable or worth it to them so they’re closing down.

  5. david says:

    One day, many years ago, Citizens bank sent me a flier offering me 10% cashback at supermarkets, pharmacies, and gas stations for 3 months. The forums there were extremely useful in helping me learn quickly how best to punish them for their mistake. Finance was the place to be. RIP

  6. Robert says:

    Doc, maybe it’s time you open a Forums?
    This would be a truly amazing thing!

    Guys, please share what you think?

  7. Alden says:

    Sad that SD won the battle, they don’t even offer CB.

    RIP FW, I was an avid user years ago.

  8. David Jeremias says:

    FW Member Stats
    Member Since: 12/11/2001
    Ave. Posts/Day: 0.55
    Lifetime Posts: 3,178
    ++++++++++++++++++++
    Adios

  9. MarcoPolo says:

    This is the new “home” for FW
    https://phatwalletforums.com/

    • Information Booth says:

      Well, I wonder if this was as a result of burnout. When doc recently posted about blogger burnout, I was concerned that maybe he was experiencing this himself. It is my hope that after witnessing what has happened to FW, we will all be a little more grateful for what we have here at Doc of credit.

      • Mimi says:

        Burnout must be a huge factor, I must say I’m so grateful to FW for not just thousands of $$ I saved but from friends I found there when they had the grocery forum and we have continued to explore the ‘net to find more savings and earnings.

        I’d like to say it now William Charles that I appreciate everything you share here on DoC website. May blessings never leave you for the rest of your life.

      • Aahz says:

        “Well, I wonder if this was as a result of burnout.”

        Fatwallet is owned by Rakuten. Billion dollar companies don’t close forums due to burnout.

      • I go through ebbs and flows, sometimes I’m highly motivated and feel like putting lots of hours into the site and other times I absolutely loathe doing it. I guess I’m a sucker for punishment because I’m still here.

  10. barrytuneup says:

    fw has given me tons of info on saving $. Just 2 weeks ago found out about the xfinitymobile deal. I am an xfinity tv/internet customer. Got 3 lg xcharge phones for free and only pay 4.02 monthly on each phone. This is only taxes. Cancelled my 2 Sprint (no contract) and 1 mobile pcs acct. got the 3 phones, activated online and it’s awesome. No activation/free shipping/ no fees for text/phone. they use Verizon.It also seamlessly connects to my work internet and home router and any xfinity hotspot around. One of the best deals ever. BUT, no one knows how long the deal for free service will last. The phone is not free anymore.

  11. Mimi says:

    I’m sad to read this, it is where I first learned the basics of App-O-Ramas and learned how to get groceries not just totally free but got paid using coupons before the advent of Extreme Couponing show. Now, all good things must come to an end 🙁

  12. mjs says:

    Fat Wallet Finance really was OG. Literally, my family made six-figures off of that forum’s wisdom.

    As others said, the hay-day was pre-2008 crash. We all are familiar with the churn on airline miles cards, but for several years it was the place to trade URL links posted in Sunday papers, bank offices, etc. that you couldn’t get universally online. The game then was years of “0% APR for X months and $0 BT fees” everyone seemed to offer, when you could get 4-6% APY in high yield savings accounts. Pure, 100% lucrative arbitrage for those that new how to play the game on a high level.

    They also were the best bastion for finding the top savings rates, and things like PenFed offering 5% 10 year-CDs (which I still luckily have a few years left of rainy day funds in).

    Some great characters too. CodeName57 who seemed to sue every telemarketer who called him. And SUCKISSTAPLES who was like this mystic Keyser Soze figure who seemed to be playing a seven-dimensional level of chess on financial deals and angles.

    Glad DoC is here though– FW Finance just seemed to lose mojo on the type of deal discussion after the Great Recession.

    • Adam says:

      lol this SUCKISSTAPLES character sounds interesting. can you give an example of the kinda deals & angles he was playing? I mean 7D chess is a huge claim – so this sounds like an incredible story if his antics are indeed that epic.

      also did CodeName57 win every lawsuit against a telemarketer? and on what basis did he sue in the first place?

  13. Adam says:

    DoC, is there anyway you can save the DPs that you hotlinked to on FW? from what I’ve read, once the lights get shut off at FW forums, they’re gone into oblivion forever. along w/countless nuggets & useful info that we’ve relied on for so long. so since they wont leave the forums up for posterity, can we as a community think of anyway to salvage atleast the DPs we’ve accrued via FW on all the various knowledge base pages here? … can we hotswap the links w something like the archive on wayback machine or something? should we start taking screenshots & linking to imgur instead of the direct forum post on FW?

    it’s only a matter of time before we lose a treasure trove of good data. sure it maybe legacy, and some may make the point that it gives us a chance to start fresh. but I’m of the opinion its good to preserve historical, useful data. all ears – if anyone can think of something else on how to best get this done.

    • Not that I know of, if anybody has any ideas let me know. Thankfully most of the FW datapoints are older, most of the new datapoints are from our blog directly.

      • Adam says:

        one way I can think of is, you create a forum (using the same software FW currently runs on)… install it & host it on the current DoC backend server, doesnt even have to be public. and then I believe all of these software forums have an internal admin tool to transfer/migrate and copy full data over (from another forum) to the new forum. if for some reason the whole database (which is what FW forum essentially is) doesnt move over, at the very least all the public posts should come thru in a mirror copy… this way you’ll have a digital archive of almost everything before FW goes down.

        after that it might be a bit of a pain to go thru each link on each of the posts to manually switch URLs to point to the new host. but that project can go on for as long as it takes. atleast we’ll have the old data to preserve & source from to reference in the future.

        lastly, another thing I thought of is you turned the knowledge base into some sorta wiki… crowdsourcing could lessen your workload or feelings of burnout. I’m sure all of us together could knock out major data compiling projects like what I mentioned above in no time. esp because we benefit the most from useful & updated DPs. even historical ones to see how things used to be, from a learning standpoint & for reference.

        • Yeah, I can’t just completely take all the content from FW and host it elsewhere. That isn’t legal unfortunately. I’ve thought about a wiki style feature before, but at the moment it’s easier for readers to tell me what needs to be updated in the comments rather than dealing with the problems that have a wiki causes.

  14. Amex Platypus says:

    Which is the best site to ask non-deal questions like, which bank offers the cheapest fees for outgoing international wires?

  15. Electroman says:

    Ah yes, Fat Wallet – I have a special connection to them – not as a longtime user (I’m that, but that’s not very special). I actually interviewed for and was offered a fair;y lucrative job with them. This was in their pre-Rakuten days. I might have accepted this but it required me to relocate to a hick town where they are (or were).

  16. Maifriend says:

    Tim,

    If you have spare time and the terms of the sale allow it, just build a new Fatwallet 2.0

  17. your daad says:

    good news! LMAO!

  18. Brad says:

    I think I found FW back in 1999 around the time of the legendary ValueAmerica deal (half price Dreamcasts and many other deals). Inspired by FW and others, 5 years later GottaDeal.com was born and I’m still running it nearly 14 years later despite several negotiations to sell the site over the years. We still have our forums which are less busy these days but always come alive as Black Friday gets closer each year. Still very sad to see FW close.

  19. Stevil says:

    Just curious: How much work would it be to set up forums on DoC? While I’m extremely grateful for all the work put into the posts here, I’ve had quite a few questions that I wish I could toss out to the great hordes of DoC readers. And obviously I can’t hijack a thread about a Navy Federal card to ask for advice on student loan refinancing…

  20. NinjaX says:

    this doesnt even make sense. where do they explain their decision in detail? I dont get why a company like Ebates cant keep the entire DB forum in archive mode with no new activity. that should be very easy and no maintenance overhead. can u imagine FT just being deleted? yeah right. thats a digital nuke rocket boy NK would be very proud of. very sad.

  21. calwatch says:

    Hopefully they’ll archive all the threads instead of deleting them from the Internet.

  22. calwatch says:

    Officially dead as of lunchtime today.

  23. Wing says:

    Thank you Fatwallet for the great times and the 32″ LCD TV that I won a few years ago during their Christmas giveaways

  24. komoto3030 says:

    Fatwallet is dead but has risen like the phoenix ad morphed into (https://phatwalletforums.com/) with a lot of the same players. check it out.

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