In an era where digital retail therapy can be as satisfying as visiting the high street, the savvy shopper is always looking for ways to maximise every possible saving. One potent tool in the armoury of such shoppers is cashback – an opportunity to reclaim a fraction of your spending. However, making the most of cashback schemes can sometimes feel like a labyrinthine task. In this article, we will unravel the mystery and unveil five top tricks to help you maximise your cashback earnings when shopping both online and in-store.
Understanding Your Cashback Credit Cards
First and foremost, the benefits of a cashback credit card can’t be overstated. These cards offer a percentage of your spending back as cash, effectively giving you a discount on every purchase. However, different cards have different cashback rates for various categories. So, understanding the fine print of your card is crucial. Key questions to ask are: What are the cashback limits? Which spending categories attract the highest cashback?
Several cards offer rotating categories where you can earn higher cashback for a limited period. Ensure you’re signed up for these rotating categories to boost your benefits. Furthermore, consider using specific cards for certain purchases to capitalise on higher cashback rates.
N.B. Always remember to pay off your balance every month to make sure you avoid interest charges.
Utilising Cashback Websites
Online shopping provides another layer of cashback potential through cashback websites. These sites partner with various retailers and offer a percentage of your purchase back as cashback when you shop through their links. Companies like TopCashback and Quidco host a vast array of retailers, meaning you can earn cashback on everything from groceries to holidays.
To maximise these benefits, make a habit of checking for cashback deals before making any online purchase. Remember, it’s not just about large purchases; small, frequent cashbacks can accumulate to substantial savings over time.
Taking Advantage of Loyalty Schemes
Many retailers offer loyalty schemes that provide points for every purchase, which can later be redeemed for cashback or discounts. Some schemes may also offer bonus points for specific products or during certain periods. It’s worth signing up for these loyalty schemes at the retailers you frequent. Also, consider planning your shopping around bonus point offerings to maximise your rewards.
Using Retailer Specific Apps
Many retailers have their own apps offering exclusive deals and cashback. From supermarkets to clothing stores, these apps can provide excellent value. Moreover, they often provide personalised offers based on your shopping habits, which can be a great way to earn additional cashback on products you would buy anyway.
Leveraging the Tail Cashback App for Monzo and Starling
Finally, UK-based fintech apps like Monzo and Starling offer unique cashback opportunities through our Tail cashback app. We partner with various retailers to provide personalised offers based on your location and shopping habits. All you need to do is link your Monzo or Starling account to Tail and use your card for purchases. The cashback is automatically applied to your account, making it a simple and efficient way to maximise your savings.
Ultimately, maximising cashback requires a combination of careful planning, understanding your spending, and utilising the right tools. Whether it’s selecting the right credit card, using cashback websites, joining loyalty schemes, downloading retailer-specific apps, or leveraging the power of Tail with Monzo or Starling, every strategy plays a part. So, get strategic with your shopping habits, and you’ll see the rewards in no time.