How to make the most of cashback offers

When it comes to making your money go further, the first port of call is to pare back spending. That’s obviously a great place to start, but there’s a great way to save while you spend. If you’re not already making use of them, or you’re not using them to their fullest, cashback offers can be a revelation.

Generally speaking, cashback is an offer whereby a percentage of your payment is paid back. This payback is usually applied to a wallet tied to whichever cashback service you used, and may take a few days to clear. Nevertheless, they’re essentially discounts that many people either ignore or don’t fully understand – money left on the table! Let’s take a look at the various kind of cashback offers out there, and how you can make the most of them.



Cashback credit card offers If you have a credit card already, or you’re thinking of getting one, be sure to look out for ones with cashback offers. “Cashback credit cards can be a useful tool for generating a little extra money through your everyday spending on things like groceries and fuel,” says Amy Knight, personal finance expert at NerdWallet UK. Some may have cashback in the form of loyalty points, such as American Express’s Avios points which rack up with every transaction and can eventually be used to buy airline tickets and more.

Then there are more traditional cashback options, such as with American Express Platinum Cashback and Barclaycard Rewards. Some of these may offer cashback on purchases up to a certain value, while others will have cashback offers for particular retailers. It’s worth exploring the latter to see if a simple change could result in a regular stream of cashback, such as switching to a supermarket where you can get cashback with your credit card.

Of course, it’s important to keep your credit card’s T&Cs, fees, and your payment plan in mind before committing to using one for cashback. “For a cashback credit card to make you better off, you need to be earning enough to cover any fees, and you must clear your balance in full every month,” adds Knight. “Many rewards credit cards come with high interest rates, so if you’re not clearing your balance, you could quickly find you’re paying more in interest than you earn in cashback.

” Cashback offers with bank account and personal finance apps Many banking and personal finance apps have their own cashback offers just waiting to be used. Monzo , for example, offers cashback on a tailored list of leading retailers via its current accounts. Of those, cashback offers of between 2% and 10% are up for grabs, with fresh offers rolled out each month.

All you have to do is shop at those brands with your Monzo account, and you’ll get the cashback applied to you account, with examples including eBay, Currys, Burger King, Tesco , and many more. Budgeting and financial planning app Emma, which collates all your accounts into one place, has similar cashback offers available for its customers. Emma features over 500 retailers in its offers, with cashback of up to 30% up for grabs! Cashback voucher websites like Quidco and TopCashback Sites offering cashback voucher codes like Quidco and TopCashback are a brilliant way to make your spending go further.

Quidco promises the highest rates of cashback around, with more than 5,000 retailers covered in their offers list, with TopCashback operating in the same way. A good habit to get into is to browse such sites any time you want to make an online purchase, search for the retailer you’re planning to use, and see if there’s a cashback offer available. From there, click the respective button for ‘Get Cashback’, and you’ll be taken to the site in question to complete your transaction as normal.

Once the payment has cleared, your cashback will be available in your cashback site wallet within seven working days. It’s a good idea to keep your options open too, as these sites will suggest alternative brands if the one you’ve searched for isn’t available for cashback. To make sure your cashback comes through, be sure to follow Knight’s tip: “To ensure your journey is tracked and cashback paid where it’s due, it’s a good idea to clear cookies from your browser before you start shopping.

” General tips for making the most of cashback offers Now you know what they are and where to get them, but how can you make sure you’re making the most of them? Keep these tips in mind and you’ll be racking up the savings in no time. 1. Think ‘cashback’ whenever you shop – this one takes a bit of dedication, but in time the habit will take hold and you’ll be scouring the deals any time you add something to a basket.

2. Keep an eye on your cashback wallets – be sure to regularly check your cashback wallets, whether it’s a pot set aside from your current account or credit card or a wallet on Quidco, and withdraw funds once you meet the minimum withdrawal limit. If you put it straight in a savings or investment account, the funds can start gaining interest too! 3.

Be aware of expiration dates – this goes hand in hand with withdrawing from your wallets regularly, but it’s worth noting that some cashback offers or funds will expire if they’re not withdrawn in time, so don’t hang about! 4. Make use of loyalty cards – whether it’s a Nectar card, a Tesco Clubcard, a Boots Advantage Card, or anything else, be sure to get one if your retailer offers them. Points accrued with these will take longer to have an impact than direct cashback offers, but there’s no harm in racking them up regardless.

5. Keep an eye out for offers – cashback offers appear, disappear, and change all the time, so it pays to be attentive. Check back with your go-to cashback tools at least once a week to see what’s available, but be sure to shop around as well.

If you haven’t yet made use of TopCashback, for example, don’t let that stop you from checking back to see if a new and relevant offer has come up. 6. Read the small print before you start spending – this one comes courtesy of Knight: “There may be specific steps you need to take in order to get your cashback, such as activating a deal in an app, recording a code, spending a minimum amount, or making your purchase within a set timeframe.

If you miss these details you could go out of your way to spend with a particular retailer, only to miss out on the reward.” 7. Consider adding cashback extensions to your browser – “If you shop online frequently, install cashback browser extensions,” says Liz Hunter, director at Money Expert.

“These will automatically activate cashback when available, so you don’t have to remember to do it yourself.”.