When it comes to shopping online, don't limit your money-saving efforts to coupon codes, deal alerts and price comparisons. You can also benefit from cash-back sites that let you earn back a percentage of the money you spend on qualifying purchases. Here's how it works: You register with a cash-back site and shop at its online retail partners. If you buy something, the cash-back site gets paid a commission by the retailer. The cash-back site then shares a percentage of that commission, in the form of cash back, with you.
However, these sites aren't quite as straightforward as coupon, deal and price-comparison sites. You need to know what to look for in cash-back sites and how to compare your options before you start using them, says Scott Fitterman of CouponCactus.com, which provides coupons and cash back. Here are some tips:
Membership should be free. Cash-back sites require you to become a member, which usually involves providing an e-mail address to create an account. Membership at legitimate sites, such as BeFrugal.com, CouponCactus.com, Ebates and Extrabux, is free.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Favor sites with a wide variety of merchants. The best sites have at least 2,000 retail partners, says Fitterman, including many well-known brands. And several sites offer more than just cash back -- they offer discounts, coupon codes and price comparison to help you save even more money.
Compare cash-back percentages. The amount you can earn back will vary from site to site and even from retailer to retailer. So Fitterman recommends comparing the cash-back percentages offered by various sites to see which ones provide the highest payback.
Seek out sites that make payments at least once per quarter (by check, credit card or PayPal) and allow you to file a claim if you don't receive a payment. Sites also should make it easy for you to view your balance and history.
Demand good customer service. Check companies' sites or Facebook pages for testimonials and reviews. Make sure contact information is provided. A live-chat option is ideal because it allows you to get instant responses to questions.
Evaluate the terms of use agreement and privacy policy to ensure that you won't have any issues with unauthorized use of your personal information.
-
Take Charge of Retirement Spending With This Simple StrategyTo make sure you're in control of retirement spending, rather than the other way around, allocate funds to just three purposes: income, protection and legacy.
-
Here's How To Get Organized And Work For YourselfWhether you’re looking for a side gig or planning to start your own business, it has never been easier to strike out on your own. Here is our guide to navigating working for yourself.
-
Five Reasons You Shouldn't Shop on Amazon Prime DaySmart Buying Think twice before getting lured into buying a bunch of stuff you don't need just because it's on sale.
-
Five Ways to Save on Vacation Rental PropertiesTravel Use these strategies to pay less for an apartment, condo or house when you travel.
-
How to Avoid Annoying Hotel Fees: Per Person, Parking and MoreTravel Here's how to avoid extra charges and make sure you don't get stuck paying for amenities that you don't use.
-
Best Cash Back Credit Cards December 2024Smart Buying Trying to compare the best cash back credit cards? Unlike most reviewers, we include cards from small banks and credit unions, as well as from large issuers.
-
How to Spend $1,000: Find Cheap (or Free) Online Courses to Build Career SkillsSmart Buying There's a huge array of skill-building online courses that can level up your career for under $1,000.
-
MoviePass is Relaunching. Should You Sign Up?Smart Buying The subscription discount movie card company has a checkered past and an army of disillusioned former cardholders. If you want to try the reboot, you’ll need to hurry.
-
HBO Max Is Offering Huge DiscountsSmart Buying Looking for a streaming service deal? Warner Bros. Discovery is cutting the price of HBO Max.
-
Are You Streaming Too Much? What the Discovery+/HBO Max Mashup MeansSmart Buying Fewer original scripted series? Maybe. And maybe it’s time to unsubscribe.
