Home  /  Blog  /  Cashback apps

Cashback apps

"Save as you spend, earn as you shop..." This quote captures the core element of cashback apps, which are gaining more popularity in 2024. Thanks to partnerships between banks and retailers, these apps let you earn rewards when you shop. Whether shopping online or in person, you can earn cash back effortlessly. As the year goes on, more apps with enhanced and novel features surface. Intending to save money and improve your shopping experience, this guide evaluates the best cash-back apps in 2024.
Updated 3 Aug, 2024

|

read

Mette Johansen

Midweight Copywriter

cashback apps

A guide to the best cashback apps of 2024

Save as you spend, earn as you shop. This simple idea captures the essence of cashback apps, which have become increasingly popular in 2024. These apps, developed through partnerships between banks and retailers, offer a convenient way to earn rewards on everyday purchases. Whether you prefer shopping online or in person, cashback apps allow you to accumulate savings effortlessly. As new features and updates continue to emerge, these tools are becoming essential for budget-savvy consumers. Let’s explore the best cashback apps of 2024 and how they can help you maximize your savings.

Cashback apps

Understanding cashback apps

Cashback apps are mobile platforms designed to reward users for their purchases. By partnering with retailers and brands, these apps allow users to earn a percentage of their spending back in cash, credits, or other forms of rewards. The concept is straightforward: shop through the app’s partner network, and a portion of your spending is returned to you.

Why cashback apps are essential in 2024?

Cashback apps are more than just a savings tool; they are a gateway to smarter financial management. Their convenience, coupled with the potential for significant savings, makes them indispensable for consumers. Here’s why they should be part of your financial strategy:

Earn rewards effortlessly

Unlike traditional savings methods that require disciplined planning, cashback apps let you earn rewards automatically. Every time you shop through the app’s network, you accumulate cash back without extra effort. It’s a seamless way to save as you spend on necessities or indulgences.

Boost your overall savings

Cashback apps often provide better returns compared to standard loyalty programs or savings accounts. Whether it’s 5% cash back on groceries or exclusive deals on travel, these apps enable you to save more over time, especially on frequent or large purchases.

Diversify your savings opportunities

With partnerships spanning various industries, cashback apps allow you to earn rewards across multiple categories, including groceries, dining, entertainment, and travel. This flexibility ensures that you’re always maximizing your savings potential, no matter where you shop.

Gain better financial insights

Many cashback apps come equipped with features like spending trackers, transaction histories, and budgeting tools. These functionalities help you monitor your spending habits and make informed financial decisions. By understanding where your money goes, you can adjust your habits to align with your savings goals.

Stretch your budget

Cashback rewards can be a lifesaver for anyone looking to make the most of their budget. The savings you earn can be redirected towards other financial goals, such as paying off debt, building an emergency fund, or treating yourself to something special.

Encourage strategic spending

In addition to standard rewards, cashback apps often include incentives like sign-up bonuses, referral rewards, and exclusive offers. These perks encourage you to shop strategically, focusing on purchases that offer the most value.

How to get started with cashback apps?

Using cashback apps is simple, but a strategic approach can help you maximize your savings. Here’s a step-by-step guide:

Download and register

Begin by choosing a reliable cashback app that suits your needs. Popular options often cater to a wide range of shopping categories. Download the app and create an account by providing basic details. Some apps may require additional verification or linking a payment method for activation.

To start earning rewards, connect your preferred credit card or bank account to the app. This ensures that your purchases are tracked accurately, and rewards are credited to your account. Most apps prioritize security to protect your personal information during this process.

Shop smartly

Before making a purchase, check the app for participating retailers and current offers. Many cashback apps highlight deals or boosted rewards for specific categories, making it easier to prioritize where to shop. Use the linked payment method for transactions to ensure you qualify for rewards.

Redeem your rewards

Once you’ve accumulated enough cashback, it’s time to redeem your rewards. Redemption options vary by app and may include direct bank transfers, PayPal deposits, or gift cards for popular retailers. Be mindful of minimum thresholds required for cashing out.

Take advantage of bonuses

Many apps go beyond standard cashback rates by offering bonus rewards. Look out for seasonal promotions, special offers on specific brands, or additional rewards for referrals. These opportunities can significantly enhance your overall savings.

Cashback apps

The cashback app market continues to evolve, with innovative features aimed at enhancing user experience. Here are some trends shaping the industry in 2024:

  • Personalized offers: Advanced algorithms now tailor deals to individual shopping habits, ensuring users get the most relevant rewards.
  • Subscription benefits: Some apps offer premium memberships with higher cashback rates, priority customer support, and exclusive deals.
  • Integration with financial tools: Many apps are incorporating budgeting and investment features, making them comprehensive financial management platforms.
  • Cryptocurrency rewards: A growing number of apps now allow users to earn cryptocurrency instead of traditional cash rewards, catering to tech-savvy shoppers.

Factors to consider when choosing a cashback app

Selecting the right cashback app can transform your shopping experience, helping you save money effortlessly. Here are the most important factors to keep in mind when choosing a cashback app that suits your needs.

Cashback rates

Cashback rates determine how much money you earn back on your purchases. Higher rates mean greater savings, especially for frequent expenses like groceries, clothing, or online shopping. Compare rates across multiple apps to find the most rewarding options for your spending habits.

Redemption options

How you redeem your cashback is crucial. Some apps allow you to transfer earnings directly to your bank account, while others provide gift cards, discounts, or credits for future purchases. Opt for apps with flexible redemption options that align with your lifestyle and preferences.

Ease of use

A simple, user-friendly interface can make a world of difference. The best apps allow you to track your cashback, check ongoing deals, and redeem rewards quickly. Look for apps that streamline the process to save you time and effort.

Compatibility

Ensure the app integrates seamlessly with your preferred payment methods, whether it’s a debit card, credit card, or digital wallet. Additionally, check if it’s compatible with your favorite retailers and shopping platforms.

Some cashback apps go beyond basic rewards by offering enticing extras, such as sign-up bonuses, referral incentives, and personalized deals tailored to your shopping preferences. These features can provide added value and boost your overall savings.

How shopping habits influence cashback app choices?

Your shopping habits play a significant role in determining the most suitable cashback app for you. Here’s how different shoppers can benefit:

Frequent shoppers

If you shop often, prioritize apps with high cashback rates across multiple categories. Flexible redemption options, such as direct deposits or versatile gift cards, will ensure you can maximize your rewards with ease.

Occasional shoppers

For those who shop less frequently, look for apps that emphasize simplicity. Lower cashback rates might be acceptable if the app offers straightforward navigation and easy redemption methods.

Budget-conscious users

If managing your finances is a priority, choose apps that provide budgeting tools or let you set savings goals. These apps help you track spending while earning cashback, offering both financial management and rewards in one place.

Cashback apps

Top cashback apps for 2024

With so many cashback apps available, it can be overwhelming to choose the right one. Here’s a closer look at five standout apps that offer excellent features and savings potential.

BeFrugal

BeFrugal consistently ranks among the top cashback apps for its competitive rates, offering up to 40% cashback at select stores. The app’s browser extension and in-store purchase options make it versatile and user-friendly. BeFrugal also features regular updates on deals and promotions, ensuring users never miss an opportunity to save. Its straightforward layout highlights current offers, making it ideal for shoppers who value simplicity.

Rakuten (formerly Ebates)

Rakuten is known for its reliable cashback rates, with some stores offering up to 12% cashback. The app also boasts a “double cashback” feature, which significantly boosts your earnings during promotional periods. With partnerships across major online retailers and an intuitive interface, Rakuten provides a seamless shopping and saving experience. Bonus coupons further enhance its appeal, making it a well-rounded option for both everyday and occasional shoppers.

TopCashback

TopCashback stands out for its high cashback rates, reaching up to 15% at partnered retailers. This app caters particularly well to fashion and travel enthusiasts, with extensive partnerships in these categories. In addition to its clean design, TopCashback offers referral bonuses, incentivizing users to share the app with friends and family for additional earnings.

iBotta

For grocery shoppers, iBotta is a go-to choice. The app offers cashback through receipt uploads, with rebates of up to 20% on groceries. While iBotta’s primary focus is groceries, it also provides options for online shopping, albeit in a more limited capacity. The app’s visually appealing and easy-to-use interface makes it a favorite for those seeking simplicity. New users can also enjoy a welcome bonus, adding extra value from the start.

Upside

Upside specializes in cashback for gas stations and convenience stores, offering up to 25% cashback in these categories. Instant cashouts are a unique feature, providing immediate access to your rewards. While its overall cashback rates may not always match competitors, Upside’s focus on fuel and convenience shopping makes it an excellent choice for drivers.

Feature BeFrugal Rakuten TopCashback iBotta Upside
Overall Rating (4.5/5) (4.3/5) (4.2/5) (4.0/5) (3.8/5)
Cashback Rates Upto 40% Upto 12% Upto 15% Upto 20% Upto 25%
User Interface Easy to use User-friendly Simple layout Visually appealing Modern design
Supported Retailers Widest selection (online & in-store) Major retailers & online stores Strong in fashion & travel Extensive grocery coverage Gas stations & everyday purchases
Unique Selling Points High cashback rates, browser extension Double cashback opportunities, coupons Bonus for signing up friends Grocery receipt rebates, welcome bonus Instant cashouts
Cons Retailer selection might be less focused on specific categories compared to others. Requires additional clicks to earn through some stores Everyday store selection might be slightly less extensive
Lower cashback rates for non-grocery purchases

Slightly lower overall cashback rates compared to some competitors

How to get the most out of your cashback rewards?

Cashback apps offer an excellent way to save money on your purchases, but unlocking their full potential requires a bit of strategy. By understanding your spending habits and making the best use of app features, you can significantly increase your rewards. Let’s explore some effective ways to maximize your cashback earnings.

Understand your spending habits and app features

To get started, it’s important to recognize how and where you spend most of your money. Choose cashback apps that align with your shopping patterns. For example, if you frequently shop online, select apps that offer bonuses for e-commerce purchases. Using multiple apps strategically can help you maximize rewards by leveraging the unique offers of each platform.

Combine coupons with cashback offers

Boost your savings by pairing cashback rewards with coupons. Platforms like RetailMeNot or in-store circulars often provide coupons that can be used alongside cashback offers. This stacking technique can significantly increase your total savings on a single purchase.

Cashback apps

Double up with credit card rewards

Maximize your rewards by combining cashback apps with credit card perks. Many credit cards offer points, miles, or cash back for purchases. By using your credit card alongside a cashback app, you can earn rewards from both, effectively doubling your savings.

Take advantage of promotions and limited-time offers

Cashback apps frequently feature special promotions or limited-time deals. Stay updated on these offers and plan your purchases around them to earn higher cashback rates. For instance, some apps may offer increased rewards during holiday seasons or promotional events.

Refer friends to earn bonuses

Many cashback apps reward users for referring new members. Share your referral link with friends and family, and earn bonuses when they sign up and make qualifying purchases. This not only increases your earnings but also helps others start saving.

Monitor your earnings and spending

Keep track of your cashback earnings and spending to identify what works best for you. Using spreadsheets or budgeting apps can help you stay organized and adjust your strategy for greater savings. Regularly monitoring your progress ensures you don’t miss out on potential rewards.

Redeem your cashback regularly

To avoid losing rewards due to inactivity, cash out your earnings regularly. Transfer funds to your bank account or convert them into gift cards for future use. Frequent cash-outs ensure that your savings are secure and ready to be used.

Look for exclusive deals

Some cashback apps offer exclusive deals with partner brands, featuring higher cashback rates or additional discounts. Keep an eye on these opportunities to amplify your savings on specific purchases.

Plan purchases for maximum rewards

Strategic planning can go a long way in maximizing your cashback. For instance, if an app offers extra rewards for spending a certain amount within a specific timeframe, consider grouping your purchases to qualify for these bonuses. This way, you can earn higher cashback without overspending.

Stay consistent and patient

Maximizing cashback rewards is a long-term game. By consistently using cashback apps, planning your purchases, and taking advantage of offers, you’ll see significant savings over time. Patience and a well-thought-out approach are key to reaping the most benefits.

With careful planning and consistent effort, cashback apps can become a powerful tool to enhance your savings and stretch your budget further. Start small, stay organized, and watch your rewards grow with every purchase!

FAQs

Which app gives the most cash-back?

TopCashback often provides the highest cash-back rates because it passes on 100% of the commission it receives from retailers to users.

What app gives back money?

Rakuten gives back money by offering cash on purchases made through its app or website. Users can earn money from various retailers and get paid via PayPal or check.

Which app will give more cash back in 2024?

TopCashback is expected to offer the highest cash-back rates in 2024, with no membership fees and higher average cash-back rates than competitors.

What is the best app to earn rewards?

iBotta is one of the best apps for earning rewards on everyday purchases. Its easy-to-use app offers cash back on groceries, clothing, and other items.

Which money app is real? 

All the apps mentioned—Top Cashback, Rakuten, iBotta, BeFrugal, and Upside—are legitimate and genuine. Many users have reviewed and used them, offering genuine cash back and rewards.

Mette Johansen

Content Writer at OneMoneyWay

You may also like

How to open a company in latvia

How to open a company in latvia

How to open a company in Latvia? Latvia, a vibrant Baltic state strategically positioned at the crossroads of Europe, stands out as an exceptional destination...

read more

Get Started Today

Unlock Your Business Potential with OneMoneyWay

OneMoneyWay is your passport to seamless global payments, secure transfers, and limitless opportunities for your businesses success.