You have probably heard of cash back programs but still might not be familiar with how they work. Simply put, these cashback online shopping sites allow you to earn or save by adding a significant extra click to your ordinary shopping process.
Cashback programs are shopping sites that use affiliate marketing to make a small commission. They give a portion of this commission to customers who purchase items through their website. These rewards can vary and depend on how much you spend on qualifying purchases, making it ideal for those who enjoy online shopping.
What Cashback Means
As the term suggests, cashback means that you receive a rebate for qualifying purchases. Cashback sites like Ebates reward customers for making retail purchases through their site. The cashback is a percentage of the amount spent on a purchase.
The percentage differs across retailers with some issuing higher rates than others. Today, most businesses recognize this program as the ideal promotion. Online shoppers are also recognizing the value in receiving cashback online free.
With this program, businesses don’t need to discount their items. They can simply offer a monetary incentive to purchasers. This allows them to reward customers without discounting or devaluing their products.
How it Works
Consumers must shop through the affiliate link on a cashback site such as Ebates in order to receive rewards. Often, they will have to sign up online free so they can receive their rebates.
Some sites will issue rebates, while others issue points that can be redeemed for coupons or other rewards.
How Long Does it Take to Receive Cashback?
All cashback websites have varying policies for establishing when members receive their rewards. Generally, it takes up to 90 days after fulfilling certain terms. Most cashback websites have a threshold that members must meet before they receive any cash. The threshold amount is usually $5-$20 in earned rewards.
Only a few sites issue cashback irrespective of the amount that a member has accrued. The 90-day period allows the verification of a sale to take place as well as payment confirmation. Moreover, they can account for any purchase returns and make necessary deductions. Once they complete this, the member can access their cash.
Tips on Cashback Sites
- If a cashback site charges a membership fee, consider it a scam and avoid it. There’s no reason you should pay to shop.
- Before you sign up, perform a search with the term “complaints” or “reviews” along with the site’s name. If the search outcomes return complaint pages, this could indicate that the website has failed in sustaining good standards.
- Be selective and only join a handful of websites to start. This way, you will have sufficient sites to get access to your desired store selection while earning cashback rewards that can be easily managed. This way you can secure the best deals without getting bogged down in emails and fine print.
- You can use a cashback finder site to compare different percentage rates being offered by various stores at a glance. Finder websites also use affiliate links and some don’t require any sign up. It can be very time-consuming to do this without a finder, especially if you are looking for particular stores.
How to Capitalize on Cashback Websites
Numerous cashback websites such as Ebates issue a bonus if you refer a friend to them. Do this by sending an email using the site’s referrals page. The email will include a link to the cashback website with a personalized code connected to your account. Typically, you won’t obtain a bonus until the referred customer earns a specific amount of cashback, so be sure to send them to those you know actually shop online.
Use a Credit Card
You can secure a bonus on your purchases by paying with a credit card. Cashback from credit card purchases can add up quickly, especially if you use it for everyday items. To avoid any interest charges, ensure that you pay off the balance at the end of the month. You could also use a card that has its own rewards program and get double the cashback!
Withdraw Money as a Gift Card
Some websites permit you to withdraw the earned cash back through bank transfer. However, if you decide to withdraw it as a gift card with a particular retailer, you’ll receive a cashback top-up. When withdrawing funds, you will notice a huge list of retailers that issue gift cards, which could earn you up to 15%.
Although cashback websites have grown in popularity over the past few years, they have been in existence since the late 90s and have only become more streamlined and rewarding with the increase in online shopping. If you haven’t enrolled in cashback shopping yet, perhaps it is time you started enjoying the benefits.