Cashback is money returned to you after a purchase, usually as a percentage of what you spent. It is available through cashback websites that have deals with retailers and service providers.
Why most people miss out
The most common reason people miss cashback is simple: they check after they have already bought. By then it is too late. The cashback window is before the purchase, not after.
Even people who know about cashback sites often forget to use them. Building a quick pre-purchase habit can make a meaningful difference over the course of a year.
Where cashback tends to be available
- Travel bookings including flights, hotels and holiday packages
- Insurance renewals including car, home, travel and pet
- Broadband and mobile switching
- Fashion and clothing from major retailers
- Home and garden purchases
- Electronics and appliances
- Financial products such as credit cards and savings accounts
How cashback works
When you click through a cashback site to a retailer and complete a qualifying purchase, the cashback site earns a commission. It then shares part of that commission with you as cashback.
Cashback rates vary by retailer, time and product type. They can also change without notice. Some purchases may not track correctly, which is why cashback is never guaranteed.
Building the pre-purchase habit
The simplest approach is to check a cashback site before any significant purchase. Travel, insurance, broadband and switching are particularly worth checking because the potential cashback can be larger.
Some people use browser extensions that alert them when cashback is available on the site they are visiting. Others add a cashback check to their shopping routine manually.
What to watch out for
- Cashback can fail to track if you use ad blockers, private browsing or certain browser extensions
- Some retailers exclude certain product lines from cashback
- Cashback rates can drop or disappear between the time you check and the time you buy
- Some cashback has holding periods before it is confirmed and paid
- Do not buy something you do not need just because cashback is available
How Ask Fin can help
Cashback Finder in Ask Fin helps you check possible cashback opportunities for planned purchases. It can estimate what cashback might look like for certain spending, and suggests cashback providers to check before buying.
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Ask Fin provides general guidance and educational support. Cashback rates, availability and tracking are controlled by third-party providers and cannot be guaranteed.