Fucked by the Bank

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NineASpades

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Jan 1, 2008
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Two days ago I was spending $5k per day on facebook. That was the limit on my bank card and on my facebook account. I just got my facebook limit increased to $30k and my debit card increased to $10k. I had a long talk with my bank, First Niagara, making sure that my maximum daily spending limit would be increased to $10k in time. They assured me it would.

On Tuesday, I spent $8,200 and on Wednesday facebook went to charge me. They could not make the charge because my bank had not properly raised my limit. My account got shut down for a few hours as I tried to find another card with a higher limit to pay it off. Now my fb ads are running again but I'm spending at a rate of like $500 to $1,000 a day.

First Niagara fucked me. Any suggestions to get my facebook traffic back up to speed without starting over?
 


Remake your ads into a new group. Also if you haven't noticed a ton of people are bidding ridiculous amounts so that could be one factor.
 
Since Facebook relaxed on the rules a lot of dumbass n00bs have started up campaigns. Give them a few weeks to lose their ass, and bids should go back down.
 
BrynYoungblut said:
Remake your ads into a new group. Also if you haven't noticed a ton of people are bidding ridiculous amounts so that could be one factor.
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Thanks. I'll Try that.

I have noticed, but my spending rate dropped in a matter of hours by like $8000 per day. Thats why I think it was my card's fault.
 
Yeah I experienced the same thing before. Busted my limits and had to unpause my campaigns later. Impressions dropped significantly after that.
 
I had the same problem.. just emial fb and tell them what happend and they will reinstate that card and allow you to use it again.. I did it and it took a couple of days..
They can clear that card number in fb to allow you to use it again.
email your rep he can probably get it done faster
 
KHyuga said:
Yeah seems like they have deep pockets and cash to burn. :updown:
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Maybe not. Consider this scenario:
Joe N00b is playing around with affiliate marketing on the side and suddenly loses his job with no other prospects in sight. He also receives a notice of default on his mortgage and knows he will soon face bankruptcy.
With some extra room on his credit card, he knows he will be stripped of these when he files his chapter 7, plans on defaulting and makes a hail mary pass down the AM route.
He figures WTH right? The worst that can happen is he maxes out all credit cards, defaults on them and in a month, the network will still send him some money he can live on, find an apartment, buy more time until he gets a job, etc.
 
johu said:
Why were you using a debit card in the first place?
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Because I'm 19 and even though I make a lot of money, no credit card company will give me a card with a decent limit. Even with the perfect credit I have so far. So I have to front all my own cash.

And I've talked to my manager, my card has been reinstated but that is not the problem. The problem is I was doing $8,000+ in traffic per day and now I'll be lucky to do $1,000.
 
1) Talk to someone at the bank about increasing your daily POS limit.
2) Find another/Other banks
.. talking to people will help you work thorough this.. don't freak out..
 
Because you can't get a credit card right now with a high limit you refuse to get one?

Why not get an AMEX and cap it out every month so they double your limit and then use your bank card for the rest of it?

Just a suggestion
 
Because you can't get a credit card right now with a high limit you refuse to get one?
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Putting words in my mouth. I'm pretty sure I never said I don't have a CC. The question is why was I using a debit card, and that is why.

FYI, I have a CC and I max it out every month and pay it off in full every month.
 
NineASpades said:
Because I'm 19 and even though I make a lot of money, no credit card company will give me a card with a decent limit. Even with the perfect credit I have so far. So I have to front all my own cash.

And I've talked to my manager, my card has been reinstated but that is not the problem. The problem is I was doing $8,000+ in traffic per day and now I'll be lucky to do $1,000.
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Talk to your banks manager and ask for a secured credit card. Put $20K down as collateral and after 6 months, they'll likely give you unsecured. Miss a payment once though and you're done.
 
bb_wolfe said:
Talk to your banks manager and ask for a secured credit card. Put $20K down as collateral and after 6 months, they'll likely give you unsecured. Miss a payment once though and you're done.
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I went down this road to get my credit limit increased. All banks will give out secured credit cards - all I had to do was transfer my savings account into a GIC which I was planning on doing anyways.

As per your problem about not spending as much before - that really blows, but it is (like the others said) likely due to the influx of people trying out different campaign types and jacking up the CPC. Over the past week I've had a couple campaigns go from $2k a day spending to $1200 a day - not as big of a drop - but likely the same cause.
 
NineASpades said:
Two days ago I was spending $5k per day on facebook. That was the limit on my bank card and on my facebook account. I just got my facebook limit increased to $30k and my debit card increased to $10k. I had a long talk with my bank, First Niagara, making sure that my maximum daily spending limit would be increased to $10k in time. They assured me it would.

On Tuesday, I spent $8,200 and on Wednesday facebook went to charge me. They could not make the charge because my bank had not properly raised my limit. My account got shut down for a few hours as I tried to find another card with a higher limit to pay it off. Now my fb ads are running again but I'm spending at a rate of like $500 to $1,000 a day.

First Niagara fucked me. Any suggestions to get my facebook traffic back up to speed without starting over?
Click to expand...

its nothing you can control...its just too many advetisers now...that's why you're not gettin as much impressions...literally blew up in the last day or so. you can thank jon and his facebook thread for that:)
 
You guys, thats not the issue here. Saturation is not the problem. I cannot believe that I was getting over 20 million impressions a day, then my card gets declined and my ads shut off, I get it fixed within 20 minutes and now all of a sudden I'll be lucky to get 1 million impressions. There is no way within that 20 minutes tons of new people suddenly saturated facebook. I've been trying to get a hold of my FB manager but he hasn't answered his phone yet.
 
NineASpades said:
You guys, thats not the issue here. Saturation is not the problem. I cannot believe that I was getting over 20 million impressions a day, then my card gets declined and my ads shut off, I get it fixed within 20 minutes and now all of a sudden I'll be lucky to get 1 million impressions. There is no way within that 20 minutes tons of new people suddenly saturated facebook. I've been trying to get a hold of my FB manager but he hasn't answered his phone yet.
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yes, that is the problem. i am paying .15-.20 cents more per click than i was even 1 day ago and getting much less impressions. one thing that has somewhat worked for me is recreating the ads and starting fresh. may want to try that.
 
mberman is right, what you saw was almost certainly just a coincidence. ive had campaigns running with similar huge #s of impressions for a couple of months that tanked in the last 2 days. bumped my bids up to compensate, what sucks is that i am now part of the problem of skyrocketting CPCs
 
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