May 3, 2010

Ways to Make & Save Money Update: MySurvey Redemption Changes

Every Monday, I share a way to make and/or save money, as I strive to achieve my New Year's Resolution of banking a large sum of money by year's end. You can read the rest of the series here.

A couple of weeks ago, I wrote about as a legitimate survey company that pays reliably. But right around the same time that I published that post, they changed their rewards, so I want to share this update.

The bad news: Your MySurvey points are worth a about 10% less.

The good news: You have more rewards to choose from.

I always used to redeem my points for cash, with 1,000 points being worth a $10 check. Now, a $10 check will cost 1,150 points. However, you now have the option of requesting your payment via PayPal, and that’ll be 1,100 points for a $10 deposit.

And that’s the new benchmark: 1,100 points for $10.

For 1,100 points, you can pick from a large variety of $10 gift cards and electronic gift certificates, including Amazon, iTunes, Zappos, CVS and assorted restaurants. Incrementally, there are some $15 gift cards/certificates at 1,650 points and $25 gift cards/certificates at 2,750 points.

However, if you want to maximize your points, your best bet appears to be any check that’s $20 or more. Update: I just discovered there's a $1.50 processing fee for each check, which makes PayPal or a gift card a better value. For some reason (and for the time being, since this may change at any time), the $20 check is 2,150 points, the $30 check is 3,150 points, the $40 check is 4,150 points, the $50 check is 5,150, the $75 check is 7,650 points, and the $100 check is 10,150 points. Meanwhile, the highest PayPal payment offered is $20 at 2,200 points, and the gift cards/certificates seem to all be based on a 1,100 points = $10 value.

MySurvey continues to offer tangible prizes, like iPods and even a Niman Ranch half ham. However, as is almost always the case, the value isn’t as good as cash or a gift card/certificate.

Personally, while I’m disappointed with this change/devaluation of the points, it’s not too significant, given that MySurvey is a legitimate survey company that pays reliably. I will continue to fill out surveys for them, and continue striving toward my goal for this year.

1 comment:

Susan said...

I love My Survey! It's the only company I take surveys for. I've gotten to test market full size samples of diapers, wipes, tide laundry detergent, hair highlights, etc.!