In this post we’ll be exploring the world of cashback. How does cashback work? We’ll explain how it works and how anybody can utilise it to make money back on purchases. Additionally we will look at some of the best cashback shopping sites and top cashback cards. Including a simple method you can use to boost your earnings even more.
What Is Cashback And How Does Cashback Work?
Cashback is money that is earned back on a purchase. It can include both online and offline purchasing.
Retailers are increasingly competing for your custom. One way to do this is by offering customers cashback for shopping with them. Although the customer still pays the full price upfront – they are then paid a percentage of this back later. This effectively gives the customer a discount on their purchase.
There are different ways to earn cashback. Some retailers may offer their own cashback promotions directly. But most commonly used are cashback sites.
There are lots of specific cashback websites and apps available that combine offers from lots of retailers into one easy to use central location. These sites are free to use (although some offer extra paid premium options).
If you are wondering how they can be free to use, this is because they receive commission payments from retailers for referring customers to them.
In addition to cashback sites there are also some credit and debit cards that offer cashback incentives when making purchases. These are usually referred to as reward cards. We will look at some of the top cashback cards further below.
So now we’ve answered the question of how does cashback work? We’ll look next at some of the best cashback shopping sites to use.
What Are The Best Cashback Shopping Sites?
There are lots of cashback websites and apps available that are free to use. But some are better than others. Whether that be for ease of use, the amount of retailers available or the cashback rates on offer. We’ll list below a few of our top picks for the best cashback shopping sites.
Slide is an awesome cashback app that offers a straight 4% instant cashback across all participating retailers. We like this as you know exactly what you are earning no matter which retailer you use.
It’s easy to set up by adding your card to the app and can be used in-store and online. Plus when you pre-fund your account you can earn an extra 1% cashback on top. There’s even a free $20 sign up bonus.
Find out more in our post on this free $20 cash app.
TopCashback is one of the most popular cashback sites with offers from thousands of the top brands. One major benefit to this site is that there is no minimum payout threshold and generous cashback rates available. Payout options are plentiful and include bank deposit, PayPal or gift cards.
It is easy to use via the website or the dedicated app. It is free to use but a premium version is also available allowing you to earn increased cashback rates and exclusive perks.
Rebaid is a little bit different to your other cashback sites. It is a rebate site specifically for products sold on Amazon. With rebates of up to 100% off. That’s right you can even get some products for free!
Learn how it works in our post for this Amazon rebate website.
More Cashback And Discounts Sites
There are many other sites and apps offering cashback, discounts, loyalty points and coupons. Fine them on our site here; Cashback Sites, Discounts, Loyalty Programs.
What Are The Top Cashback Cards And How Do They Work?
Cashback cards can include both credit cards and debit cards. They are usually even more convenient than cashback sites as cashback is automatically applied when you use the card to make a purchase. No need to keep signing into accounts beforehand, it is done instantly whenever you use it.
There are many credit cards available offering rewards and one of the top cashback cards is the Aspiration Zero credit card. Not only does it offer cashback but for each purchase you make, Aspiration will plant a tree to offset your carbon emissions. There is even an incredible $300 credit card sign up bonus!*
There are also bank accounts and debit cards that pay cashback including the Aspiration Spend & Save account. This account offers up to 10% cashback on debit card purchases plus other perks. And Aspiration will continue to plant trees with every round-up. You can earn up to $200 as a welcome bonus.*
We like Aspiration as they are a truly green and environmentally conscious financial company that help both the customer and the planet at the same time. Make your wallet fatter and the planet greener with Aspiration.
*Note, sign up bonuses are subject to provider’s Ts &Cs and may be adjusted or discontinued at any time.
How To Boost Your Cashback Earnings
When using a cashback product most people will tend to use either; a top cashback card or a cashback shopping site. But why not combine the two of them and earn even greater cashback?
For example you make a purchase using a cashback card offering 10% cashback at a particular retailer. You could also make this same purchase through a cashback site also offering 10% cashback.
But if you use both the cashback site and card to purchase the item you will be earning double the cashback. 10% from the card and 10% from the site = 20% total cashback. And it doesn’t take any extra effort.
To show the example let’s assume the product costs $100. You visit the cashback site and click through the 10% offer to earn $10. That’s $100 x 10% = $10.
When you get to the checkout you use a cashback card to make payment that also offers 10% at the same retailer. This means you earn another $10 cashback from the card. Again that’s $100 x 10% = $10.
So that’s $10 from the website/app and another $10 from the card. Giving a total of $20 which is 20% of the $100 item price. You’ve now made back double what you would have if you’d just used one cashback option. A lot more cash for no extra effort!
Cashback Signup Bonuses
Many cashback sites and cards usually offer new customer sign up bonuses that pay you when completing your first purchase. Take advantage of this to boost earnings even further. For example MyPoints offers a $10 gift card on your first purchase.
Simply sign up to one provider and meet the bonus conditions. Then move onto another provider for your next purchase to make use of their bonus offerings. You can often make even more through referrals.
We have a post covering the many free ways to earn money online including using free sign ups. Read more in this post; Real Ways To Make Money From Home For Free.
How Does Cashback Work? Conclusion
Hopefully we’ve clearly answered the question of how does cashback work?
By using both a cashback site and paying with a cashback card you can increase your earnings and discounts even more. Plus you can use free sign up bonuses from different providers to make more money back.
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