More and more credit cards, debit cards, and online money transfer apps continue to hit the market promising users features other than basic functionality. After all, it is the extra perks and benefits that keep us all interested, right?
One such reward scheme is that of cashback offers.
Cashback means you would get a percentage of your spending sent back to your account. The exact amount may vary depending on the type of purchase or several other factors. Nonetheless, this encourages customers to make purchases via the card or app and get a refund as a reward. Works like wonder!
However, it is common to see many clients not taking advantage of such schemes to the fullest. If you are also on the list of users who do not know how to maximize the earnings via cashback offers, DO NOT skip on this post because we know all the right tricks.
Choose The Right Tool For Your Purchases
We know that cashback offers only imply when you make a purchase or a transfer up to a certain value. For example, some credit cards promise to reimburse up to 10% of the funds if you use $500 or more within a week.
What will happen when you don’t spend this much in a given amount of time? Well, bye-bye to any hope of cashback you had!
The same applies to using online apps for money transfers.
So to say, Cash App rewards offers only make sense if you are using the application regularly and fulfilling other criteria necessary for winning cashback. If the purpose is just to send and receive funds on Cash App, you might not be able to reap the full benefit of the reward schemes.
Look into the kind of purchases you regularly make or the apps that you use for most transactions. This will help you choose the right tool that will eventually let you score more cashback rewards.
Be Regular With The Use of Cash Card or the App
Once you have got the credit card, debit card, or the money transfer app that seems to be most useful in your case, the next step is to set aside expenditure that you would deal with using these tools.
This is necessary because only with regular use of the card or the app would you be able to reach the threshold value for the cashback reward.
A great technique to use your tool of choice regularly is by selecting monthly bills that you will pay through it. This can include internet subscription charges, cable bills, utilities, rentals, health insurance, etc.
Try To Go “BIG” With The Purchases
Another strategy is to opt for big purchases with your card or the online app. This would help you reap significant rewards.
Although we don’t have many costly options on our “to-buy” list, you can look into purchasing items or bills that charge more than others. This may include your kid’s college fee, car rental, or an investment that you may have been thinking about for a while.
Big expenditures like these make it easier to score cashback offers.
Moreover, if you don’t have enough funds in your app, you can always choose to transfer it from another source for the time being.
For example, if you see a catchy offer on Venmo spending, you can have the funds sent to your Venmo account for the purchase that you can, later on, send back to the concerned account. It’s actually pretty easy!
See If Your Bank Supports Online Shopping Portal
There are many reliable banks and credit unions out there that directly support your purchase from specific retailers or merchants.
The catch in using these shopping websites is that they guarantee plenty of cashback and might as well give you other incentives on top of it.
Moreover, you don’t have to step into any confusing procedure to complete shopping via bank online portals. Simply open the portal on your banking app and visit the website of your choice from the given list.
You can check out their cashback rewards before you begin to add items to the cart. Then you can avail these points once you reach the checkout. The transaction would be registered directly with your bank and you would get the reward wherever they are applicable.
Don’t Miss Out On One-Time Rewards
You might have noticed that many cards and money transfer apps offer interesting sign-up rewards. Although they are just one-time offers, they can actually help you accumulate a good amount of cashback points.
Therefore, we recommend users who are looking into maximizing their earnings, start by choosing an option that promises the best one-time rewards like a sign-up bonus or even friend referral programs that plenty of apps now offer.
After that, once you start using the card/app, the rest of the points would top-up, assisting you to reach the benchmark for cash-back offer quickly and easily. Isn’t this smart?
Cash backs are often considered to be the best form of reward since you are purchasing what you were going to get anyway! Luckily, with these schemes, you can have to have a portion of your spending reimbursed in your account as a token of gratitude from the retailer or your payment company.
It takes just a little effort to learn how you can automate the process of winning cash-backs and get the most out of it. Newbies might find it to be a bit confusing at the start but don’t fret, it only gets easier later on.
So, next time you are out shopping or planning to pay a bill via a mobile money transfer app, keep these tips in mind. They are easy to incorporate into your daily shopping patterns. Hopefully, you would enjoy the reward scheme even more once you start to get the hang of it.