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How to Earn Cash Back When You Shop

Jon Lal

Whether you're a frequent shopper or a once-in-a-while buyer, everyone can benefit from learning new ways to save money. For those of you that are new to cash-back shopping, it's an easy way to earn back a percentage of your purchase. Here are some options than can work well:

Cash-Back Shopping Websites

You can sign up for a free account on a cash-back shopping website in order to start earning money back when you shop online. Cash-back rates vary by store at each website. Comparison tools such as CashbackHolic or Cashback Monitor show you what cash-back websites have the highest rates at various stores.

Once you sign up for a free account, it's really simple to earn cash-back as you shop. The key is logging into your account and clicking through the cash-back shopping website first. Just search for the store where you want to shop, and once you click, it will redirect to that store's website. Then you can make your purchases and check out as normal. It will take a little while for your purchase to appear while the store reports the purchase to the cash-back website. Once it is verified you will be able to see the money in your cash-back account.

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You will find that you're able to earn cash back from many online stores, including major brands like Walmart, Target, Best Buy and more. Just check the terms and conditions on a store for any restrictions or special circumstances on cash back rates.

The more purchases you make, the more money you can accumulate in your cash-back account. Once you reach the required minimum, you can choose to withdraw payment. That's all there is to it! You'll find you can earn cash back on many online purchases, including when you book travel, buy software, order flowers or of course, shop online.

You might be wondering how these websites are able to offer you money just for shopping online. Cash-back shopping websites earn a commission when purchases are made through their site, and then the commissions are shared with shoppers.

Cash-Back Credit Card Programs

These days, most credit cards come with a rewards program. You might earn discounts, miles or points to redeem for travel and entertainment, or maybe you invest your rewards in savings accounts. But another perk of credit cards is the ability to earn cash back on your purchases. Keep in mind that credit cards with cash back offers typically require a good credit rating for approval.

So how can you find a credit card with a cash-back program that works for you? Fortunately there are plenty of resources available to compare various offers and break down the benefits of each program. Even after you use a reputable resource to research different card offers, there are a few things you should verify before you choose a new credit card:

Check the cash-back percentage. This may seem like a no-brainer, but it's important to read the terms and conditions of each credit card carefully. Some may offer a high rebate, but in fact that percentage is only applicable to certain categories or merchants. Check to see if there are different rates offered for gas and grocery purchases. These might be more valuable to you anyway, especially if you have a long commute or a big family. Consider which program is the best fit for you.

Read the fine print. There are a number of questions you should be able to answer before signing up for a new credit card, and you can typically find the answers in a card' terms and conditions. It's tedious to read through, but may save you a lot of money (and headaches) later on. Does the card have an annual fee? Are the merchants where you typically spend the most money eligible for cash back? Is there a minimum spending requirement in order to earn a card's signing bonus? Make sure the cash back you potentially will earn is worth it.

Now that you're savvy on cash-back programs, enjoy watching your accounts accumulate from your everyday purchases. If you make a purchase through a cash-back shopping website while using your cash-back credit card, you'll really stack your rewards!

Jon Lal is the founder and CEO of coupons and cash back website BeFrugal.com, which saves shoppers an average of $27 per order thanks to coupons plus an average of 7 percent cash back at more than 4,000 stores.



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