What exactly is a cash back site?
You are probably already familiar with cash back and other kind of rewards programs your credit card company offers. Cash back sites work similar but they are totally independent from your other rewards programs. If you do any online shopping you can probably take advantage of one of the cash back sites and even combine it with your other rewards program your credit card might offer. Mr. Rebates offers cash back for over 2000 different stores including Apple, Macy’s and Nordstrom. All you need to do is login at your preferred cash back site and select the store where you want to shop. As soon as you click through to the online shop from your cash back site you are on your way to save some money.
How much can I save?
You can get cash back from anywhere between 1% and 52%! In addition you might find some coupon codes on the cash back sites that you can apply as well. If you have a rewards program on your credit card you’ll still earn the rewards on top of that.
What’s the catch?
There isn’t really one. Well, besides the risk of shopping too much because you are trying to get more cash back. I started using Ebates in 2006, later I discovered Mr. Rebates and Big Crumbs (now MainStreetSHARES). Over the years I got checks from them. I only had a problem once were an online retailer didn’t seem to report/credit the cash back amount into my account. A quick email to Mr. Rebates and they took care of it for me.
Which one is better?
That depends on what stores you are going to shop. I personally make most of my purchases through Mr. Rebates since they partner with over 2000 shops. The amount of cash back varies between the different cash back sites, so I sometimes switch between them. Mr. Rebates even gives you a $5 sign up bonus when you create your account. The amount is credited immediately to your cash back account. Currently Ebates also offers a $10 sign up bonus so you might also want to sign up there since it is free.
How do I get my accumulated cash back amount?
Depending on the cash back site you can get it through PayPal, Check, Prepaid MasterCard or Prepaid Visa debit card.
What if I am not patient enough to wait for shipping?
There is an increasing amount of retailers offering In-store pick-up. At stores like Apple, BestBuy and Office Depot you can still use the cash back site and pick-up your order at the store one hour later.
Cash back site side-by-side comparison
|Sign up Bonus||$5||none||$5 in cash or $10 gift card from (Barnes & Nobles, Target, The Home Depot, magazines.com|
|Payout Method||Check/PayPal||PayPal||Check/PayPal/Prepaid Visa Debit Card|