Cashback has been around for a while now, but it’s surprising how many people fail to use it to their advantage. You can claim cash back on a huge number of things, from hotel stays to your food shop – savvy shoppers earn thousands back each year simply by navigating their shopping through cashback websites. Don’t miss out: read on to find out more.
Online Shopping Cashback
You can earn cashback online by routing your purchase through one of the cashback websites, such as Quidco or TopCashBack. The cashback rate is usually between 1% and 5% and is set by the retailer. In some cases, such as with insurance and banking, a set amount of cashback is given for each policy or account taken out.
How does it work? The retailer pays the cashback site for referrals (you, the customer) and some of this royalty is paid back to you as cashback. It’s very easy to set up, you just register with one of the cashback sites, search for the retailer you want and start shopping. Money is earnt on your account as you shop, once a certain amount is reached they deposit your earnings directly to your bank account.
You don’t have to change the amount you spend, and your shopping habits are basically the same, but you get some cashback on something you would have bought anyway!
Credit Card Cashback
If you regularly use credit cards then choosing a card that offers cashback is important to consider. By rewarding you for using your credit card, and paying it back in full and on time each month, the credit card issuer will offer you cashback on all purchases or purchases at certain retailers.
Typically around 3% is offered, with some premium cards offering up to 5%. Credit card cashback is a great way to earn extra money spent on groceries, petrol and other every day expenses.
Guarantor Loan Cashback
A brand new type of cashback which is currently only offered by one guarantor loan company – Guarantor My Loan – gives you a full month’s payment back if you make your first 12 payments in full and on time. For a loan of £5,000 taken out over 12 months, this could be as much as £513.57! No other loan company does this, so if you’re looking into getting a guarantor loan then this could work out to be the best deal for you.
Cashback is something that everyone should take advantage of, very little needs to change in your shopping habits, and you can benefit each time you spend. Even if you only earn the odd £10 back here and there, it all adds up. You’d be surprised at how much opportunity you have to earn cashback – from the Guarantor My Loan Reward to earning money back on your weekly food shopping. Do your research and you can earn as you spend.
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