A few quick updates on the iConsumer portal.
eBay Cashback Details
- The portal initially offered 8% – unlimited.
- Then it was 16%, with a limit of $20 per month.
- Then it was just 8%, with a limit of $20 per month.
- For a few short moments, it was 8% with a limit of $80 per month. iConsumer informs me now that this was a temporary glitch.
- Now, they lowered the cashback amount to 4%, still with a max of $20 per month.
- I verified with iConsumer that the cashback resets on the first day of each calendar month, so February 1st starts over a new $20 limit.
Folks who made purchases on eBay when it was supposed to be unlimited are still getting limited to the $20 per month. They are not swallowing their mistakes. 🙁
Social Security Number
Readers mentioned that you’ll need to give in your SSN since they’re issuing stock. I reached out to iConsumer to verify that the portal does not require an SSN. They confirmed that unless you get $600+ over the course of the year or if you want to receive stock, you won’t need to give in your SSN.
Readers have clarified that the 1099 is only for $600+ in bonuses, not for cashback earned from shopping.
Referral Bonus
Frequentmiler reports that iConsumer now added $10 to the referral bonus for referring new members. The new member gets 100 shares, and after the new member makes a purchase, the referrer will get $10 + 100 shares. This $10 bonus goes on until 2/14/16.
Final Thoughts
iConsumer pays out via check. Minimum of $25 needed to cashout. I think I’ll continue using them for eBay, up to $20 per month, and hope for the best. To each their own. Hopefully, with the new 4% rate, it will be sustainable for the long run, at $20 per month. And maybe we’ll end up with something from all these stock earnings. Of course, there’s always risk dealing with a new portal.
See also iConsumer Offering 8% Cash Back On eBay + Our Review
