When we think of using coupons, we often see the coupons as the frugality strategy designed to put more money in our pockets. But what if you could save money using coupons and promo codes and get cash back? That’s the idea behind cash back sites like Ebates on top of its coupons and promo codes.
Buying Through Cash Back Sites and Getting a Discount
When you make a purchase through these sites, you get a portion of what you spent back in rewards. If you spend $100 at a store that offers 4% cash back, the site explains, you get $4. One of the things I like about these program is that you don’t get this money as an account credit or promo credit. This cash back is actually made as a payment to you. You can choose a check or PayPal to receive your money.
It is important to note, though, that there is a lag when it comes to receiving your cash back payments. Your payment won’t be processed until after the return period (usually 60 days, or after the travel is completed in case of travel purchases). That means that it might take more than two or three months receive cash back payment, as long as you meet the payment threshold of $10 for the month being processed. Once you get into a rhythm, the process tends to smooth out a bit.
Different stores come with different cash back offers, ranging from less than 1% cash back to 5% cash back. On top of receiving the cash back, you can also still apply coupons and promo codes. If you really want to boost your rewards using these sites, you can pay for your purchase with a cash back credit card. You’ll still get your cash back through the cash back site, enjoy whatever discount you qualify for, and be able to get cash back from your credit card as well. It’s a great way to maximize any savings that you are looking for when shopping online.
Of course, no matter what program you are using for cash back or coupon savings, you do need to be careful. It’s important only to buy what you would normally purchase. Don’t go out of your way to make new purchases just because of a coupon or a cash back opportunity. As long as you are careful to create a spending plan or budget, and you use these tools in conjunction with your planned spending, you can come out ahead. And, if you use a credit card, don’t forget to pay off the balance. A month of interest can wipe out any of your cash back rewards and other savings.
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