Do you want to know how to make money with every purchase? Simple, get cashback from every purchase. I made more than £400 last year in cashback alone. This is money I get back from my day-to-day purchases for just making them in a certain way. If you are interested in how you can immediately make money from your expenses, keep on reading.
What is cashback?
Cashback is one other way that companies promote their products and services. Instead of offering a discount, they offer some money back on your purchase. The beautiful thing is that you can still combine the best promotions with cashback offers. This is possible by combining cashback cards with cashback platforms and sales. Please allow us to introduce you to the world of cashback.
Cashback Platforms
These platforms are 3rd party websites that help companies get customers via the cashback incentive. The great thing here is that you can still get the retailer’s discount. This means you are not sacrificing value for cashback. You are not overpaying to compensate for that cash you will get later. Find below a list of the most popular cashback websites.
1. Quidco
I have personally been using Quidco for years. They are very reliable and have a smooth app. Also, I never struggled to find what I want/need on there. From clothing to appliances and holidays, you will probably find what you need on there. It is quite simple to use as well. You just need to open the Quidco app or website, search for the retailer/item you want and visit the retailer from Quidco. Your purchase is usually tracked within 24 hours but the payment will only be made available a few months later. There is no minimum required before withdrawing your cash. You can withdraw the cash using Paypal or you can get a cash boost from Quidco when you withdraw the cash as a voucher with any of the participating retailers. You can sign up using our link here to get an additional £5 of cashback when you get your first £5 of cashback.
More recently, Quidco also became a comparison website with very lucrative cashback offers if you switch your insurer or service provider through them. So instead of using comparethemarket or moneysupermarket when switching, use Quidco.
2. Top Cashback
Another cashback platform that is almost identical to Quidco. You might find slightly different deals and/or retailers on there, but they are 95% similar. They also work in the exact same way. I keep them both on my tablet and phone just in case. If I can’t find what I need on Quidco, I will check Top Cashback. However, Martin Lewis recommends going to Quidco first, as do I.
3. Airtime Rewards
I love airtime rewards. I made £10 in the first week of using them. They are different from Quidco and Top Cashback in a couple of ways though. Firstly, you do not need to visit the retailers’ websites through their app like Quidco and TC. Instead, you register your debit or credit cards on the app and any transactions made at eligible retailers are tracked. Secondly, cashback is only given as a credit on your phone bill. Currently, Airtime Rewards only works with Visa and Mastercard cards. You can sign up here. Don’t forget to use our code (GRCDAJUQ) to get an additional £1 when you spend within 7 days. Argos, Asda, Greggs, Wilko, and Currys are some of the big retailers on there.
4. Inbox Pounds
I know what some of you are thinking but no, Inbox Pounds is not just for surveys. Inbox Pounds work with companies to incentivize and reward customers to buy their products or services. Sometimes, the reward even exceeds the cost of the service. I got 1 year of antivirus protection and VPN just because the payout was double the cost. Basically, these companies paid me to have their product. Another great offer was with eToro; they would pay £120 pounds for opening an account, depositing £75, and making 4 trades!
Cashback Cards
Cashback platforms are not the only way to get cashback! Yes, there are credit cards (& even debit cards) that offer cashback on *almost* all purchases. An overview of these cards can be found below.
1. Amex Reward Cards
American Express probably offers the widest range of reward cards out there. Amex Platinum and Gold cards offer a cashback of 0.5%-1.25% on all purchases. There is a catch though, these cards have very high-interest rates, so they need to be used for normal spending. It is strongly recommended that you pay the balance in full every month. Also, do not apply for these cards if you have an important credit application coming up. Also, make sure you know the credit card basics before making any credit card application by reading our article.
2. Chase Debit Card
JP Morgan Chase has recently launched a digital bank in the UK, Chase. Their way of winning over customers? Cashback. For the first year, eligible purchases, which include most transactions, will get 1% cashback. Customers seem disappointed though for a myriad of reasons, but primarily because it lacks a bunch of important bank features. Some of the features missing include direct debits and joint accounts. I would not use it as my primary bank account though. Instead, I would use Chase as my day-to-day spending card and keep my direct debits and salary going from another account (more about this budgeting technique here).
3. Paypal Business Debit Card
Paypal’s brilliant business debit card offers 0.5% cashback on all eligible purchases. All you need is a Paypal business account, which you can open even if you do not have a limited company. The only annoying thing about this card is that it does not actually work with your Paypal balance. Instead, any purchases made with the card withdraw money from your linked bank account. The withdrawals take 3 business days to clear.
4. Barclay Rewards Card
Barclaycard have introduced their rewards credit card. This card pays 0.25% back on all purchases. These cards are more widely accepted than amex, which means you can end up with cashback no matter which card you use.
How to Make the Most out of Cashback
Here are a few tips and tricks to make the most out of cashback. But as a prerequisite, you should have an account with Quidco, Airtime rewards, and at least one cashback card.
1. Quidco First
Every time you think of making an online purchase, go through Quidco. There is a 99% chance you will find what you want on Quidco for a great price. This really needs to be habitual, it is easy to forget and miss out on a lot of money. Especially on big purchases like appliances, furniture or holidays.
2. Combine Your Cashback!
You can double up or even triple up your cashback by combining rewards from different platforms. Many of the retailers on Airtime Rewards are also on Quidco or Top Cashback. You can also register your cashback card on Airtime Rewards (except Amex). This means that for an eligible purchase through Quidco or Top Cashback, you will get rewards from the platform, Airtime Rewards, and your card provider!
3. Switch Through Quidco
Loyalty costs. The best deals are always saved for new customers. Whether it is your insurance or telecom provider, switching will save you money, and switching through Quidco will save you more money. Quidco offers tens and sometimes £100+ for just switching. 9 times out of ten you will be getting a cheaper deal anyway so the cashback is just a bonus.
4. Make Purchases on Behalf of Friends and Family
Close friend going on holiday or a relative purchasing an appliance? Why not make the purchase for them? I have made plenty of purchases on behalf of my parents, usually big-ticket items. This strategy is not for everyone but for the right people, it will almost double the money they make from these platforms on a yearly basis.
In Summary
You can expect to make £100’s annually in rewards from these platforms, if not more. Following the tips and tricks in this article will save you money every step along the way. Combining this spending behavior with a zero-sum budget is guaranteed to leave you with more money in savings and investments.
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