It works like this: they send you a few sponsored emails a day. You get 5 points for clicking on them. That's all you have to do. You usually get more points (depending on the offer, sometimes 10-25, sometimes thousands) if you "take advantage of the offer" (ie buy something, but sometimes it's a free thing like sign up for a website or take a survey.)
That's about it. There are more ways to earn (if you install their toolbar you can get 75 points/month for doing at least 30 searches), but that's the meat of it. Their offer wall is lacking, and the only other way to earn points is by shopping. If you happen to already do a lot of online shopping, you are likely to rack up points much faster, but of course that somewhat defeats the purpose of "free" (still better than no rewards though!)
Other good points:
- Sometimes the ad emails they send actually have really good offers in them. I've mentioned before that I love drugstore.com. That site already has a lot of good deals, but thanks to MyPoints I've gotten additional deals *plus* extra rewards on MyPoints for buying stuff I would have paid more for at any local shop.
- You can actually get points for shopping on eBay! You can access eBay search and even bookmark items directly on MyPoints. Then, if you win an item that you clicked through, you get points from the purchase. Just make sure not to clear your cookies between the time you clicked and the end of the auction (if you do, just go back and click again.)
- They actually insist on mailing you your gift card claim code. No clue why. The good news is, the letter shows up pretty quickly (less than a week in my experience.)
- There used to be a "Spin and Win" feature on the site which gave you the daily opportunity to get free points. It seems to be gone now.
- There doesn't seem to be a referral link or banners to use; you have to email people to get referrals, which I don't really like doing (makes me think all my friends and family will just start ignoring my emails because they may see stuff like that as spam. I much prefer to direct people to my blog!)
Bottom line: It's pretty worth it, but especially if you shop online frequently. They have a lot of available retailers, and seem to be pretty good at tracking cookies. (I have had to email Swagbucks customer support several times to get them to cough up my Shop & Earn points!)