How Do Cashback Apps Work? The Basics Explained
You’ve had it with old fashion coupons. They take up space in your purse and remembering to take them with you when you go shopping is stressful at times.
If frugal is your name, then cashback apps should be your game. Money-saving game that is.
Curious about how cashback apps can save you big money when shopping? Check out this quick guide below.
Cashback Apps What!?
The basic idea of a cash-back app on your phone is to earn cash rewards when shopping for certain offers at select stores. This is not like a coupon where you receive savings at the time of purchase.
This is more like a rebate and can come back to you in the form of cash, check, or gift cards. Once you spend the app’s minimum amount—each is different—you get to cash in on your rewards.
Cashback apps offer buyers links to products sold by online stores. All you have to do to get started is download a cash app of your liking on your phone.
Once you’ve registered, you’re ready to shop! However, instead of just going straight to the store, you’ll visit the app for products you want.
You’ll then either click a link to purchase online or purchase the product through the preferred vendor. For purchases made outside the app, a picture of your receipt sent to the app is sometimes necessary.
However, most apps are getting away from this. Most shoppers just visit the app’s website and use it as their own personal shopping portal.
Choosing the Right Cashback App
Never sign up with a cashback app site that charges you a membership fee—it should be free. Also, do your research on the app and make sure it’s credible and has good reviews from users.
Other things to consider when looking for a cashback app:
- payout threshold – some apps require you to accumulate a specific dollar amount of earnings, others payout in periods (weekly, quarterly, etc.)
- payout qualifications – reward percentages for retailers vary on each app, some are better than others
- payout frequency – cashback app sites typically have varying payout periods and conditions
- payout method – gift cards, Paypal, credit, and checks are all ways cashback apps pay rewards to shoppers
Cashback Monitor is a great site to use when comparing payout rates of the many cashback apps.
Is it Worth It?
Using cashback apps do take more time and a little getting used to. Once you get into the habit of using the right ones, you’ll find you can receive some big rewards just for shopping. And if you are looking for cashback apps to use, moneymakingapps.com has the scoop on the best cashback apps available.
What’s the Catch?
There’s really no catch at all. Cashback apps create relationships with retailers that pay them to refer customers.
They then pass some of that money they’ve earned from referrals to the customer. So If you like earning money while shopping, then cashback apps are for you.
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