Cashback: It really is that simple

This is a nice and simple one really.

If you aren’t already, you should be earning cashback on EVERY purchase you ever make.

Retailers pay cashback companies and credit card issuers incentives when people use their services, and a lot of products specialise in passing some of this return to you. In addition, card companies charge a fee for the retailer to use their card, again some of which they can pass to you.

It is entirely possible in this day and age to use cards or electronic payment for pretty much every purchase you ever make, and its pretty straightforward, so in reality if you aren’t doing it, you’re missing out.

There are two primary ways to earn cashback:

Cashback Credit Cards – these provide cash back on purchases you make on a credit card. Cashback debit cards do exist but their coverage is varied at best. The credit card equivalents tend to pay out on any purchase, between 0.5 and 5% depending on the card and what you are buying. Remember though, if you take out a credit card, always pay the balance in full every month to avoid interest (direct debit is the easiest way).

I personally have a Platinum Cashback American Express card (1% on everything with a 5% introductory rate up to £200 with a £25 annual fee) for most purchases, and then a Tandem Mastercard (0.5% on everything with no fee) where AMEX isn’t accepted. Both of these are fee free. I have chopped and changed these cards over the years though in an effort to chase the best deal. More on this another time. I’ve had about £300 cashback my normal spends on these cards so far this year (shopping, petrol etc.)

Cashback Merchants – These exist in a few forms, but by far the simplest is the online portal that links you to other retailers, and when you complete a purchase the portal rewards you with the cashback.

By far and away the best cashback site hands down is TopCashback. Its been operating for around 10 years and seems to work with everyone. There are very few times I have logged in and not found what I was looking for, and that’s after using it for almost 4 years. It also helps that they normally have the best cashback rates.

All you do is sign up for the site, and when you have something you want to buy online, you just check on the TopCashback website if they give cash back for that retailer (they do most of the time), click a link on their site, which redirects you to the retailer, and then shop away. The time it takes for the cashback to hit your account varies with the retailer but it has always worked out for me given enough time. I’ve earned over £200 in 4 years just through my normal online purchases (which are few and far between). In addition to earning the cashback in cash form, you can even make the value go further with a bonus by turning it into vouchers you need such as for Amazon or restaurant chains.

Both methods are really quite simple, and both earn you income passively whilst you perform your normal spending. You really don’t have to expend a lot of effort to save a significant sum towards a big purchase, a holiday, whatever it might be. So what are you waiting for?

You can earn even more rewards by using my referral links below: (This one gives you an additional £25 statement credit after spending £1 on the card, that covers the fee for the first year)

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