When was the last time you clipped a paper coupon before shopping? Even if you wanted to, most people don’t have the time, or initiative, to do so in a 21st century digital world. So, you might want to make more use of cash back apps.
And whether shopping in-store or online, people still want to save.
Consumers spent over $86 billion on purchases in 2017.
So, you might want to use cash back apps to make your shopping experience easier and earn more money than you would with a coupon.
Some cash back apps, like Rakuten, Ibotta, and Fetch, earn you instant cash back or reward points.
Before we get into all of that, let’s explain the definition of an app.
What Are Cash Back Apps?
An app is just a software application that performs the digital equivalent of a previous analog function or service.
Cash back apps have some similarities to paper coupons, though they are very different.
A retailer and supermarket make promotional deals for various products that are passed onto the consumer in the form of savings via the coupon before you checkout your purchases.
Cash back apps are kind of like an old school coupon merged with a rebate. You earn cash back or reward points after the purchase. How you redeem your cash back rewards vary by the app issuer.
First, just register an account online. Then download the app. The app issuer will have an online directory showing you which affiliated brands and retailers offer savings and cash back rewards.
Start shopping and redeem your cash back rewards as per the instructions of the issuer.
If you’re ready to shop, here are three cash back apps deserving of your attention.
You could earn serious cash back or reward points with these apps.
Rakuten
Formerly known as “Ebates,” Rakuten was launched in 1997 as an online site for shopping rewards and cash back incentives.
The business model hook Rakuten offers its customers is an opportunity to earn over 40% cash back rewards on their online purchases.
And, all without the need to look for and/or redeem online coupon codes. You can definitely find online coupons on the site too, but it isn’t necessary to redeem rewards.
Rakuten has over 12 million registered members in the United States alone and has extended over $1 billion cash back rewards since 1997.
It barely takes a minute to register on Rakuten. Then, you can start shopping online through the site.
As you rack up your cash back rewards, you can be paid via check or PayPal.
You can earn cash back rewards from over 2,500 retailers through Rakuten. These include:
- Ace
- Amazon
- American eagle
- Butcher Box
- FedEx
- Macy’s
- Nike
- Old Navy
- OverStock
- Sakara
- Travelocity
- Walmart
If you’ve earned over $5 in cash back rewards, Rakuten will mail you a check or pay you via PayPal once every 3 months.
Unfortunately, this is the redemption standard – you can’t choose when to cash out your cash back rewards.
Still, if you spend over $25 within 90 days of opening a Rakuten account you’ll earn a $10 bonus in cash back.
Ibotta
Ibotta is one of those free cash back apps that gives consumers cash back rewards instantaneously.
This is a great cash back generating app for consumers who shop every day or every other day.
Ibotta was founded in 2012 and currently has over 35 million users. Since its founding, it has paid out over $682.4 million in cash back rewards to its users.
All you must do to gain cash back rewards is register online, link a debit or credit card account to your Ibotta account, register for an Ibotta loyalty account, and download the Ibotta cash back app.
Even though Ibotta is known as a grocery app, the service partners with over 1,500 retailers and brands to offer you cash back savings.
These affiliated retailers and brands include:
- Best Buy
- Domino’s Pizza
- Gap
- Grubhub
- JCPenny
- Target
- Walgreens
- Walmart
There are three ways to earn cash back rewards via the Ibotta app.
You can earn cash back rewards by paying for your purchases via the Ibotta app while you shop in-store. First, peruse available deals and offers on the app.
Then, pay for your in-store purchases through your credit card or debit card linked Ibotta account via the app. You can pay for in-store via Ibotta app at over 50 retailers.
Or secondly, you can use an Ibotta loyalty card. After applying online, you will receive your card in the mail.
Use your Ibotta loyalty card like a coupon card to save on qualifying cash back offers when you check out. You’ll receive your cash back rewards within a day.
Finally, you can just submit your purchase receipts through the Ibotta app. Just add any qualifying offers you find on Ibotta into your app.
Buy your purchases, take a photo of your purchase receipt, and submit it via the app. You’ll get your cash back rewards within a day.
If you redeem 10 cash back offers within two weeks of registering, you’ll get an automatic $20 bonus as a reward for signing up.
Fetch Rewards
Don’t want to work too hard for your cash back rewards? Then Fetch Rewards might be the best cash back rewards app you can find for your needs.
To redeem Fetch Rewards, all you have to do is take a photo of your receipt and upload it to the app.
That’s it.
Keep in mind, you accrue reward points instead of actual cash back with Fetch Rewards.
After accruing between 1,000 to 3,000 points, or more, you can choose free online gifts or gift cards from your favorite retailers through Fetch Rewards.
You can also accrue points if you buy from brands and retailers affiliated with Fetch Rewards, which include:
- Chex Cereal
- Coors
- Gevalia Coffee
- Jell-O
- Hamm’s Beer
- Huggies
- Pond’s
If you refer friends and relatives to sign up to Fetch Rewards, you and your referral will each earn 2,000 points.
There is no limit to the number of referrals you can submit to Fetch Rewards as a registered member.
Submit the code “PENNY,” when you scan your first receipt and you’ll get 2,000 reward points as a sign on bonus.
Check Out Websites for Cash Back Apps for More Info
There are many cash back apps that may be deserving of your attention.
You may save a lot more money, and gain more cash back rewards, depending on the app and your shopping habits.
When it comes to cash back apps, there isn’t a one size fits all situation for everyone.
Shop around for the right cash back apps before you literally shop around. Find the right cash back apps for you and your shopping needs.
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Allen Francis was an academic advisor, librarian, and college adjunct for many years with no money, no financial literacy, and no responsibility when he had money. To him, the phrase “personal finance,” contains the power that anyone has to grow their own wealth. Allen is an advocate of best personal financial practices including focusing on your needs instead of your wants, asking for help when you need it, saving and investing in your own small business.
