With so much misleading information about making money online, it is hard to know what is legitimate and what is worth the time and effort.
There are many popular, legitimate options available online.
Mypoints Survey, offers rewards for surveys, purchases and watching advertising and videos.
You may have seen plenty of misleading posts, pins and videos about making hundreds or even thousands of dollars a month answering surveys online.
Unfortunately, this information is misleading at best.
While answering surveys in the Mypoints survey zone can be a way of making a little extra cash on the side, it is not a practical strategy for full time (or even part time) income.
If your goal is to build a business and earn passive income or to work from home on your own time, there are options available for more substantial and reliable income.
What is Mypoints Survey?
Mypoints.com is a limited liability company operated by Prodege, LLC that was founded in 1996 as company offering savings for online shoppers.
Since then, Mypoints has added additional ways to earn points, such as answering surveys.
Currently, Mypoints' goal is to help their brand partners grow by bridging the engagement between the brands and its consumers.
In doing so, Mypoints rewards their members with cash back and gift cards.
Ideally, everybody wins.
This program pays points when you complete surveys on topics ranging from music preferences, to medical conditions, to grocery purchases to the newest electronics or trending topics.
The points can in-turn be redeemed for gift cards to numerous popular shops and restaurants or as a payment thru PayPal.
How does Mypoints Survey work?
Although there are opportunities to earn points from watching videos and playing games, I will not be discussing on them.
Because you will be spending so much time just to earn 4 to 6 points, which is totally not worth your time.
We will be talking about surveys which will potentially earn you more money.
Earning Points from Online Surveys
You can find a list of the available open surveys in the Mypoints Survey Zone.
The surveys are listed with the points awarded if the survey is successfully completed and the estimated amount of time it will take to complete the survey.
There are also notes or indications on some surveys indicating if there are particular requirements for that individual survey, such as "this survey must be taken on a desktop or laptop computer."
You will not qualify for all surveys, however you will get 5 points for the first 5 surveys you attempt, but do not qualify to complete.
Some surveys can even involve a at-home trial of a product for which you will complete a follow-up survey for additional points.
These particular types of surveys typically offer a higher payout, the availability is very limited and the qualifications required are highly specific.
Is it hard to find eligible surveys?
For most people, qualifying for surveys can be difficult.
It is not uncommon to attempt 10 or 20 surveys before finding one for which you qualify.
This is because unfortunately Mypoints shows all surveys available when you are logged in, not the ones you will at least initially qualify for based on the information you have stored on your profile such as gender, age and location.
Most of the surveys do have a pre-qualification section at the beginning of the survey and some of those can be quite time consuming.
Also, if you make it thru a long pre-qualification survey and are not elected for the survey, it can be frustrating knowing your time would have been better spent elsewhere.
To make it more difficult, you may fit the specific demographic targeted for that survey, but because the survey is made available to so many individuals, it could be full once you attempt to complete it.
Something interesting for you to know...
I've studied the recent trend of online surveys (1) and it seems that the demand of this market is going downhill.
Companies and brands now realizes that they have much cheaper and better alternative to collect accurate data from its consumers.
So, it deems that the online survey industry could phase out if the trend continues.
That's probably the reason why it is so difficult to find eligible online surveys to profit from.
Do you agree with my observation? Please share your views in the comment section below.
How will you get paid?
Once you have a minimum of 480 points, the equivalent of $3, you can cash out your rewards.
Mypoints Survey rewards its members with gift cards that can be spent on a limited number of retailers, including Amazon, Dunkin' Donuts and Ebay.
Once you have a balance of 700 points, the equivalent of approximately $5, many more retailers and restaurants like Barnes and Nobel, Papa John's and Nike become available.
It is important to note the points do not always equal the same dollar value for each gift card.
Currently, a $10 Starbucks gift card is 1,580 points, but a $10 gift card to Burger King will cost you 1,670 points.
To request a PayPal payment you have to have a minimum of 3,970 points, the equivalent to $25.
Once you've made and verified your selection, it typically takes a few days to receive your reward via email if you have elected an eGift card.
However, the website does state it can take up to 10-14 business days for receipt.
If you have chosen a physical gift card, it will be mailed out after 7 days and it should be received within 2 weeks.
Pros and Cons of joining Mypoints Survey
#1 Opportunity to Earn Money when You have Extra Time
The pros of joining Mypoints survey rewards include earning points for gift cards or cash in your spare time.
It can be a great way to pass the time if you are sitting on a train or subway during a commute, waiting on your food at a local restaurant or any other occasion when you have a few minutes to spare that would otherwise be spent on activities with no real benefit.
#2 You Don't have to Pay to Play
Another positive point to consider is that you don't have to purchase anything to start earning points.
The money you earn from this website can be truly "free money."
Also, as mentioned before, you may have the rare chance to be included in a survey in which you will receive a free product to try and evaluate before it is released to the public.
These free items can be anything from beauty products, baby items, beverages or a new brand of snack food.
Additionally, you can earn an extra 25 point for each friend you refer that signs up and makes it to 125 points.
There are also cons to consider when joining Mypoints Survey as a means of making additional income.
#1 Time wasted on Pre-Qualification Surveys
Firstly, you will have to answer pre-qualifying questions on almost all surveys that are offered.
During these pre-qualification surveys, you could spend five to ten minutes (or more) just to be told you do not qualify, which can be frustrating.
A second con to consider is that the points are worth just a few tenths of a penny.
#2 Exchanging a lot of time for little money
While some survey sites points have a clear monetary value, you would have to do the math to figure out what each survey is worth.
Essentially every point is worth just over $0.006.
So a 15 minute survey that is worth 75 points will pay you approximately 45 cents or $1.80 an hour.
And that is just for the surveys you successfully complete.
#3 Risk of Account Deactivation
Another cautionary word would be to make sure surveys are being answered honestly and consistently.
If the Mypoints Survey system discovers inconsistency between your survey answers and your profile details, they can deactivate your account.
The points earned will be lost without the opportunity to cash them in for any reward.
In some instances, accounts are deactivated without prior notice or explicit reasons.
#4 Poor Support
It has also been reported that the support team of Mypoints Survey can be unhelpful.
Numerous users have reported little to no assistance when contacting support.
Issues like points discrepancy in account or issues preventing them from redeeming their points are left unanswered in many occasions.
#5 Not Enough Surveys to go around
As I've mentioned above that the demand for consumer data through online surveys is on a down trend.
There isn't much surveys going around.
Furthermore, Mypoints survey is not the only survey company in the market.
There's at least hundreds of such companies.
And, they are experiencing the same effect across the industry.
If the trend continues, this market could be obsolete rather quickly.
My Sincere Advice to You
All things considered, Mypoints Survey is one of many sites offering the opportunity to turn your opinion into cash.
It can be time consuming and should not be relied on as a regular source of income.
Nowadays, it is rather difficult to qualify for surveys due to the lack of demand from companies and brands.
If you want to have a steady source of income, I would advice against completing online surveys.
There are much better opportunities out there.
If you are interested to know...
This happened to me a few years ago
I happen to be in your shoes years ago.
Looking for ways to earn extra cash, but I landed myself in a lot of online scams.
I've tried online surveys, mystery shopping, MLMs, Online trading, etc.
All of which didn't earn me a single cent, but burned a huge hole in my pocket.
I wish to tell you that earning a full-time income online is easy, but it isn't. You can read about my story here.
Thank you for reading this review!
I hope I have provided you with sufficient information to make an educated decision.
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