Cashback is one of the most popular benefits for today’s consumers. Surprisingly, far too many Americans do not take advantage of their reward programs.
Did you know that 31% of credit cardholders have never redeemed their cashback rewards? Many people are just ignorant of the rewards accruing on their account.
Once you are aware of cashback, you will never shop the same way again. There are many websites that allow you to accrue cashback while shopping.
Read on to learn about cashback sites like Ebates that help you save money. Explore the concept of cashback and how to find the best deals online.
How Does Cashback Work?
Many shoppers cannot comprehend the concept behind cashback offers? They believe it must be a scam because no business would just send out free money.
The truth is that cashback sites work with affiliate networks online. These affiliate networks represent some of the largest retailers in the world.
The cashback sites are rewarded for referring customers to a particular retailer. For their role in directing business towards the retailer, the cashback site is given a pre-negotiated percentage of the profit.
Think of this as a commission for helping to generate a sale. The cashback site then gives a small percentage of that back to its website users as an incentive to shop with them.
What Is Ebates?
Ebates is a cashback site that works with some of the largest retailers in the world. Now known as Rakuten, you can earn cashback on purchases from Nike, Kohl’s, and Target.
Consider an example in which you are shopping for wall art from Kohl’s. Once a purchase is made through Rakuten, the retailer verifies the purchase. After verification, the retailer reports back to Rakuten, who can now issue the cash back into your account.
Each quarter, you can redeem your cashback rewards from Rakuten. The cashback comes in the form of a check or PayPal payment depending on the consumer’s preference.
Is There a Catch?
The cashback deal sounds too good to be true. There has to be a catch, right?
The truth is that a good cashback website will have no strings attached. You should not have to pay a monthly membership fee or payout in any way. Websites like Rakuten do not have any fees to use it.
Many of these websites have introductory offers like a $10 bonus to sign up. On Rakuten, you can even sign up with an existing account from Google or Facebook.
There are not any forms involved with signing up. The sign-up process should be easy and not cumbersome.
A Recap of Cashback Sites Like Ebates
You do not have to pay full price for every item you buy online. Instead, you can use cashback to earn a discount on popular items. These rewards accrue over several months and are distributed each quarter. It is a nice surprise to receive a check or PayPal payment just for shopping.
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