Among the most common tools used to gain customer s loyalty, companies give a great importance to loyalty programs which, in most cases, give rewards for consumers expenses. It is no different in the internet, as virtual companies had to adapt themselves to a new reality, in which operational profits are essential to their economic health. In this research the conjoint analysis theory is used with the objective of showing the group of characteristics understood as desirable by the class of consumers researched about a multi-loyalty program in the internet. This work is composed of two main basic steps: the choice of the attributes to be evaluated by the respondents and the analysis of this evaluation. The group of stimulus to be evaluated was chosen based on the information collected through the focus group interview. The group of stimulus presentation was developed making use of the SPSS software, for windows. Right after, the data collection was implemented with the questionnaries, sent by e-mail. Some of them were handled personnally. In the last step, also using the SPSS software for windows, this study reached its objective, identifying the concept of product considered the most adequate, as a result of the stimulus combination which generated the highest utility level.