What Are Cash Back Offers and How to Earn Them On Your Purchases

Get Cash Back What Are Cash Back Offers and How to Earn Them On Your Purchases

What Are Cash Back Offers and How to Earn Them On Your Purchases

What is cash backCash back is a type of rewards program that gives incentives when you use a paid product or purchase specific items or brands. 

  • Credit cards, like Discover and CitiBank, and payment forms, like PayPal and ApplePay, offer a percentage of your purchase, rebated back to you as an incentive or reward for using that payment method.
  • Apps like Ibotta and Rakuten, offer manufacturers rebates to promote a new or promotional product.  You can benefit by using cashback programs to stretch your hard-earned dollars, often being able to 'stack' your savings by using multiple programs.

But there is a problem with cash back programs.  Often they go unused because consumers like you get busy and forget to use them or it just all seems so complicated and cumbersome, so it does not get done!  That's where DoNotPay can help.  With our Cash Back product, we can get you the cash back you deserve quickly and easily.

What Are the Types of Cash Back Programs?

Cash back programs come in several forms.  It takes some time and planning to optimize your savings.  You just need to know which payment method offers the best program, what offers are available from manufacturers, and if any stores are offering additional cashback savings.

Credit Cards

  1. Many credit cards and payment types like ApplePay offer cash back programs.  They may offer a set percent cash back on all purchases, but in addition run specials such as additional cash back for purchases for gas, restaurants, and entertainment.  There are three types of cash back credit cards:
    • Flat rate, applying to all purchases.
    • Tiered, usually a flat rate, with higher cash back given to special categories.
    • Rotating, where the cash back categories change during specific purchase periods.
  2. Some examples of cashback programs are:
    • Citi Custom Cash: 1-5% based on your spending patterns
    • Wells Fargo Active Cash: 2% on purchases
    • Capital One Savor Cash Rewards: 1-8% on restaurant and grocery purchases
    • Discover It: 1-5% on selected purchase groupings
  3. Some credit card cash back programs require annual fees.  Be sure your cash back will offset the cost of carrying the card.  The ones who have annual fees typically offer higher cash back amounts.

Cash Back Apps

  1. These are apps to use on your mobile devices to receive cash back for your purchases.  Most can be used for several major stores, both in person or online.
  2. Some examples of popular cash back apps are:
    1. Ibotta-A simple to use app that includes shopping from your phone or in person.  You simply scan the store where you will be shopping and look for cash back offers.  Scan your receipt after purchase and you earn rewards that can be transferred to your bank account.
    2. Rakutan-This app is good for cash back from all sorts of purchases, including travel, airfare, and car rentals.  You are issued checks or payments through PayPal every three months.
    3. Fetch Rewards-This app has become popular, especially for grocery shoppers.  You simply submit a scanned copy of your receipts and your earned points are converted into gift cards.

Cash Back Retailers

  1. Many retailers offer cash back for purchases made in their stores or their websites.  Usually, they are calculated with a customer loyalty card, adding points for each dollar spent.  Retailers differ from other cash back programs because the cash back rewards can only be spent in their stores.  Some retailers may set limits on the cash back allowed.
  2. Some examples of retailers that offer cash back programs:
  • Ace Hardware - You earn 10 points for every dollar spent and after your total comes to 2500, you earn a $5 coupon for merchandise in any Ace.
  • Dick's Sporting Goods - One point is earned for each dollar spent.  After 300 points are accumulated, you get a $10 reward.
  • Staples - Rewards are based on the amount you spend and can range from 2-5% of your purchases.  Staples also offers cash back for returned ink cartridges.
  • Kohl's - In addition to their Kohl's Cash promos, Kohl's rewards customers with a 5% reward.

What Other Ways Can I Earn Cash Back?

There are several ways to increase your savings and earn additional cash back for the items you buy every day.

Stack itUse manufacturer's coupons to reduce your purchase price on an item that qualifies for cash back on an app,  Then, purchase with a credit card that has a cash back program.  This can save money, often making the item free!
Purchase on saleOf course you should check if cash back rules exclude sale items, but in most cases, you can increase your savings by purchasing at the right time.
Make a listBeing prepared is one of the best ways to save money, whether on vacations or groceries.  Researching the best deals, prices, and cash back programs can put money back in your pocket.

What if I Can’t Do It on My Own?

If it all seems pretty confusing and time-consuming to get the most bang for your buck with cash back programs, DoNotPay can help!  DoNotPay can help you find the best apps, and get you ready to cash in!

It only takes three steps:

  1. Search for Cash Back on the DoNotPay website.
  2. Kick off the process to find the right app or website for you.
  3. Answer some specific questions so that we can help you start making money!

And that's it! DoNotPay will send you the best cash back options we can find and help you to start earning more cash back on your purchases!  Let DoNotPay save you time and money today!

What Is Cash Back? — Frequently Asked Questions

Is Cash Back Free Money?

No, you will need to spend money to earn cash back. In other words, cash back offers are incentives for you to use your credit or debit cards.

What Is an Example of Cash Back?

Cash backs are offered by banks, card companies, and retailers to incentivize spending. For example, if you made $1,000 in purchases with a 1.5% cash back rate, you will earn $15.

How Much Does Cash Back Pay?

Cash back typically pays 0.5% to 3.0% on the amount you spent using your credit or debit card, depending on your card company and bank.

How Do You Get Money From Cash Back?

The money you earn from cash back is typically a portion of merchant fees that your card provider charges. You can redeem your cash back rewards by requesting a credit or check, transferring them to another bank account, or using them as points, depending on the cash back program you've enrolled in. The easier method is to use DoNotPay's cash back product, which will help you redeem cash back offers that you've forgotten about in seconds.

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