They promise products and gift cards, but that's fake. A gift card appears for literally like half a minute at some random time of the day. And it's usually lame like Fanatics, 1-800-flowers, Buffalo Wild Wings, etc.
Viggle does let you redeem points for digital media, which it overcharges for. Plus it uses M-GO for it's digital media and who knows how long that company will even be around?
They told me I could trade in points for things like a cruise, TVs, game consoles, iPads, etc, and then when I get enough points to buy them, they disappear. Coincidence, or is Viggle posting fake rewards that remove from your catalog when you have enough to cash out? I spent over 3 years accumulating over 2 million points and now all the products are gone.
UPDATE: Perk has purchased Viggle. Points aren't worth nearly as much - the amount of points that used to buy $500 worth of merchandise will now get you about $100 worth of gift cards. However, they WILL supposedly be there. Right now (mid Feb 2016) no changes have come, but they are supposed to be offering gift cards and perk plastik (reloadable prepaid Discover card) soon. If you're thinking about getting started with Viggle, you might want to wait until the Perk prizes actually become available. They haven't given any hard dates, they just say it's happening soon.
Update 2: The new Perk Viggle doesn't work well. It doesn't make any sense to use Viggle over PerkTV which you can passively let play rather than earn fewer Perk points by having to check into shows, which is what Viggle does.
On the upside, Perk is reliable when it comes to paying. I don't like Perk Plastik. I've had a buck disappear from my PerkPlastik for no reason I understand (they said there weren't any fees), and Discover isn't accepted most places. Still, Perk has Amazon and other gift cards so that's much better than the old Viggle.
I was right about M-Go. Luckily, they got bought out by Fandango so Viggle users can still access their M-Go purchases there.