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Do you like the idea of getting paid to shop? Have you heard of earning cashback as you shop? If this is a new idea for you, it is possible to earn cashback by using your credit card or an app on your mobile device. You can earn back a little of what you spend every time you shop.

It’s important to understand that cashback is not free money. Instead, cashback is a method retailers use to get you to spend more. In fact, their offers may be so enticing that you spend money on things you may not need or use. Maybe you wouldn’t have bought the items otherwise. Later, after making a purchase to earn cashback, you may find the product or item is cheaper somewhere else, making the cashback purchase cost you more in the long run.

However, cashback can be a good method to find better prices and save a little money in the process.

You’ll find there are basically four methods you can use to earn cashback including:

1). Bank Accounts

You’ll find there are bank accounts that offer cashback at rates from 1% to 3% on your household bills. However, these accounts do charge you a fee. For this type of offer, it’s best to see how much you’ll earn in cashback and add in the fee to see if the deal is really worth pursuing.

There are also other accounts that offer cashback bonuses for certain retailers, shops and restaurants. These offers generally require you to activating them before you can access the bonuses.

2). Cashback Credit Cards

These are specialized credit cards that offer cashback between at rates anywhere from 0.5% to 3% for each pound spent. Cashback credit cards generally pay your cash back once a year, or you may receive the points that can be exchanged for some reward, such as vouchers and more.

Each cashback credit card works in a slightly different way. For instance, some cards will give you cashback on certain purchases, such as buying petrol for your car. The offer may stipulate the petrol station you have to use to earn the money back. Other cards may offer the same money back rate on all purchases.

You’ll also come across cards that charge a fee. Since the conditions vary from card to card, it’s a good idea to thoroughly read through each cashback card’s offer before signing up for their credit card. 

If you’re considering a cashback credit card, then remember these are only a good method to earn some money back if you can afford to completely pay the balance off each month. Otherwise, you’ll have to pay interest on the credit card balance, which can be pretty expensive. And this will wipe out any benefit you may have received for earning cashback.

Keep in mind that credit card companies want you to spend more. This can be addictive and dangerous behavior if you fall victim to their encouragement to spend.

3). Cashback Websites

You may have come across some fun websites that offer cashback for your participation on their sites. While these sites are fun and do pay you cashback, they’re actually a type of middleman between you and retailers. You earn money back by using their site for online shopping.

Offers do vary in how much you can earn, but generally they run anywhere from 2% for making purchases or booking travel plans, to hundreds of pounds for opening a new account with a mobile operator.

The thing to be careful of here is that the money back isn’t guaranteed. For this reason, don’t make a purchase through the cashback site just for the money you may earn. Another thing—don’t spend the money before it’s in your account. This is crucial. And be sure to check other sites online to see if you can find a better deal on the same item, without having to use the cashback option.

These sites can earn you a chunk of change. To be successful, you must read the instructions on the site and follow them exactly. In this way, you can earn a nice amount back in your pocket. In fact, you can use Kerching to earn cashback on your everyday purchases – simply shop online to earn free credits which you can then use to enter competitions or trade them in to receive gift vouchers.

4). Utility Switching

Did you know that switching your utilities to new providers can sometimes save you money, and earn a little cashback in the process? You can save up to hundreds of pounds by switching, making this a great way to save money on household bills, while you earn a little money back, too.

To find some of the best deals for switching utilities, it’s fast and easy to use a comparison site. The thing to watch here is that you should choose a provider who offers what you need. If you find a couple of offers that appear beneficial for you, consider how much you’ll save with each one. If one of the providers offers a bonus such as £20 back, this could be the deciding point you need, as long as the offers are otherwise about the same.

5). “Get Paid To” Sites

These sites are similar to the cashback sites, but they ask you to complete certain actions to earn cashback or vouchers. For instance, some sites may ask you to complete surveys, watch videos, read emails, play games or other activities to earn.

These sites won’t make you rich, and, again, you’ll need to read through the terms and conditions to make you understand exactly how they work. When you have a few spare minutes in your day, it may be relaxing and fun to complete these activities to earn a little money back. It may take a while to earn enough for a payout, but it’s a great way to use a few minutes here and there to earn a little money for your wallet.

These are some fun, creative ways to earn cashback when you shop online or complete specific activities. Always read the terms and conditions and be careful when choosing a cashback credit card or bank account. These are great ways to earn cashback if used in the right way!