Are Cashback Programs Worth The Time & Effort?

mrvaluepack on 01/01/2021 - 16:14

The recent boxing day and cyber monday promotions at cashrewards and shopback have pushed me to a point of thinking if its worth my time & effort to constantly worry about:

  1. Whether the purchase was tracked.
  2. Was the purchase eligible for the bonus.
  3. Will I receive the bonus or cashback in 3-4 months.
  4. Filing missing claims.

During the December and November period, I've only had a 66% tracking success rate and had to file several missing claims.

The amount of time taken to track and ensure you get paid $5 - $10 is ridiculous. Just wondeing what methods everyone else is using to constantly keep on top of your cashbacks at these sites and ensure you get paid what you are owed?

General Discussion Cashback

Comments

  • Seraphin7 on 01/01/2021 - 16:22
    +1

    I've found they are. My experience has been pretty straight forward on the whole. I've earned about $2k over the years and had very few not go straight through. YMMV.

    • mrvaluepack on 01/01/2021 - 16:26

      Do you keep track of your cashbacks? I currently set reminders on my calendar to check if they actually pay up.

      • Seraphin7 on 01/01/2021 - 16:29
        +4

        Mentally, yes from the perspective of whether or not they are tracked.

        In terms of actually paying up, that's all recorded on the sites.

        That said, it is very rare that my purchasing decisions are based on the cashback. I'm looking for the best deal I can get and the cashback is just a kicker.

        • mrvaluepack on 01/01/2021 - 16:42

          The bonuses and extra incentives usually arent recorded on the regular Claim history. Its a pray and hope they give, kind of situation.

          • Seraphin7 on 01/01/2021 - 17:04

            @mrvaluepack: That's true, although I do see those ones as "bonuses". I think I only ever used those bonuses in respect of WOW gift cards (until they went away) that I was going to buy anyway.

        • Zachary on 02/01/2021 - 10:35
          +1

          In terms of actually paying up, that's all recorded on the sites.

          What do you do when they dont pay up and blame the merchant saying "they havent paid us so we wont pay you"?

          • Seraphin7 on 02/01/2021 - 11:40

            @Zachary: I've had this happen twice. Interestingly, both times were with the same merchant. Read into that what you will.

            In both those cases I followed up with the cashback site who made "goodwill payments" so I ended up still getting my rebate.

            • yvesmpicard on 02/01/2021 - 12:27
              +1

              @Seraphin7: What about NAME the guilty party ????
              They deserve ALL publicity !!!!!

            • Zachary on 02/01/2021 - 13:07
              +1

              @Seraphin7: I followed up mine and they basically stood firm and didn't want to pay me….

              • Seraphin7 on 02/01/2021 - 13:19

                @Zachary: You need to stand your ground as well. You've got to get through the first two or three rounds of canned responses, get into an actual conversation with someone and go from there.

              • mrvaluepack on 03/01/2021 - 14:46

                @Zachary: Cashrewards or shopback?

  • hentabara on 01/01/2021 - 16:26
    +3

    Just click and forget so you wouldn't waste your time.
    And dont forget to withdraw the cash.

    • mrvaluepack on 01/01/2021 - 16:28

      I used to have that mentality but with those $5-$10 100% bonus cashbacks, i find myself forcing to look and purchase items i dont really need.

      And if i dont get that cashback, its $5-$10 i wouldnt have wasted.

      • Frank Murphy on 01/01/2021 - 17:51

        have pushed me to a point of thinking if its worth my time & effort to constantly worry

        The amount of time taken to track and ensure you get paid $5 - $10 is ridiculous

        i find myself forcing to look and purchase items i dont really need.

        Being pushed? Worrying? Forcing? Seriously Forcing yourself?
        This is a case of consumerism at its stupidest.
        Quit your whining and grow up.

  • SF3 on 01/01/2021 - 16:26

    If the time and possible “hassle” is worth your time sure, otherwise look for real savings, rather than rely on cashback/shopback as the only $ avenue to save or get a deal.

  • Caped Baldy on 01/01/2021 - 16:36
    +1

    They are worth it for me. I've made a few hundred but I wouldn't rely on it completely. I consider it a nice bonus.

  • MeesusEff on 01/01/2021 - 17:07
    +2

    All up I've probably gained back about $2k worth, big ticket ones were from hotel bookings back in the day. Think of it as a bonus rather than an incentive to spend

  • stevednj48 on 01/01/2021 - 17:10

    i have taken out around $450 from each of Shopback and Cashrewards so i say yes.

  • Yowie on 01/01/2021 - 17:26
    +7

    Good discussion.

    In regards to the bonus cashback offers only, I found one of the detriments to participating in these offers were tracking the bonus payments and ensuring they eventually end up in my account.

    Hence, I created the Bonus Cashback master thread to assist with tracking. Feel free to subscribe as others have done.

    This addresses point 3) above but the other valid points you have made still has to be adhered to which also stresses me out.

    I usually keep a list of $5 - $10 items to buy so I usually make use of these offers. Overall, it's a bonus above and beyond what you normally get so I'm happy to participate but I can see how others are more hesitant.

    • mrvaluepack on 01/01/2021 - 19:14
      +2

      I saw your thread previously and was very thankful for it.

      Do you set calendar reminders as well? Because I'm afraid that if I assume the cashback was tracked, when it comes time to check why the bonus wasnt paid (which sometimes takes 4 months), they will say you should have filed a missing purchase claim within the 60 day time limit. Thus missing out completely.

      • Yowie on 01/01/2021 - 20:32
        +2

        Step one should actually be to check whether your intended purchase item is eligible for cashback. This is essential for buying from places like Amazon and Aliexpress.

        Step two is ensuring the purchase was tracked correctly which means lodging a missing claim if you don't see this as pending in your account within the specified period. Once you miss the claim window, you can say goodbye to the cashback and any consequent bonus.

        All just in my opinion.

        Now I just set my own reminders when the next expected cashback is meant to be paid. To the credit of the cashback providers, the payment is usually made earlier than stated.

  • plmko on 01/01/2021 - 17:56

    my time & effort to constantly worry

    As compared to time and effort to worry about whether it's worth getting cash back?

    Bizarre, if you ask me.

  • AustriaBargain on 01/01/2021 - 18:25

    Zipback saved me over $100 on gift cards I'd have needed to buy anyway, plus savings on all my regular shopping. There was no fine print or complex rules or limits, even a kid could understand it. Zipback ends in a week though.

    • dust on 01/01/2021 - 20:18
      +1

      I wouldn't consider Zip a Cashback program though.

      • AustriaBargain on 01/01/2021 - 20:45

        Zip credit is as good as cash. you can spend it anywhere in store and most places online. More convenient than any other method of rewards imo.

        • dust on 01/01/2021 - 20:47

          I'm not saying it wasn't a good deal. I used it for a few Saturdays and got Prezzee gift cards. I'm saying though for the purpose of the question asked by OP that Zip isn't technically a cashback program.

          • AustriaBargain on 01/01/2021 - 21:03

            @dust: Technically it's better than a cashback program. Almost zero time and effort.

  • DemocracyManifest on 01/01/2021 - 19:18

    Depends what you are needing to buy. Saying that I only used one of the deals this December, I normally try to use it with Menulog etc but sometimes I just forget

  • Clear on 01/01/2021 - 20:49
    +2

    Definitely worth it. I travel frequently for work so I book my own accommodation, claim it as an expense and then make a little bit of profit on the side from the cashback. Not to mention the countless other purchases.

  • DingoBilly on 01/01/2021 - 21:25

    Its worth it but I'd say only if you were going to buy the item anyway.

    If I'm flying somewhere for example, it doesn't hurt if I get 1 or 2% cash back. But if I see Amazon has $20 cash back and I start making up things to buy I think that's where it's wasteful and not helpful (unless I already planned on something).

    I think many people get trapped by that need to spend to "make" cashback and end up buying stuff they wouldn't normally for a net loss.

  • avoidfullprice on 02/01/2021 - 00:43

    Just wondeing what methods everyone else is using to constantly keep on top of your cashbacks at these sites and ensure you get paid what you are owed?

    Honestly, nothing. I considered the stuff I paid at full price is already sunk cost. If the bonus is credited great, if not oh well.

    I do keep an eye of what I have purchased is tracked. I cross check that with my payment transactions (e.g. CC statement, PayPal history). I do that as part of budget routine anyways.

    I get anxiety over the uh-ohs when I paid stuff with gift cards and realised that would make my cash back ineligible. Bye bye BWS cashback.

  • eddieboy2 on 02/01/2021 - 08:02
    +1

    I am new to Cashrewards and only started using the site recently. I have made 6 purchases and all have been tracked OK and show on my account within say 30 mins of purchases. The only hitch is you have to wait 90-100 days to draw the cash. Looks good to me really. The special one day discounts are quite generous at times.

  • niffy on 02/01/2021 - 09:50

    Overall it is worth it, on boxing day a lot of shops both on SB and CR were doing 15-20% cashback deals which are very helpful if you have something in mind you wanted to buy in the boxing day sale. For instance I am furnishing a new place so these cashbacks were very handy.

    However for the one day $5 giftcard bonuses on Ozbargain I sometimes miss looking at the post on time and it does seem more impulsive to buy like a $50 woolies giftcard if I have some already

  • MontyMacaw on 02/01/2021 - 10:43

    I treat all bonus schemes the same. I don’t buy something I don’t need and if I get an extra bonus I set calendar reminders for them to be checked and get on with my life. It’s not worth overthinking for pennies.

  • OzHunterNSW on 02/01/2021 - 11:47

    Hahahaha what a load of crap… for what… $2…. $5… and in the mean time you have sold your soul to their marketing friends rendering you subjective to all manner of intrusive contacts sms, email, phone, etc.

    • MontyMacaw on 03/01/2021 - 10:00

      A loud laugh often speaks for the vacant mind. Saving money isn’t always a choice for a lot of people.

  • even-track on 02/01/2021 - 13:31

    I would recommend it. Cashback over the last 2 years or so effectively paid for my PS5. I don't worry too much about checking the tracking, if I do it's only for the big cashback amounts.

  • mini2 on 03/01/2021 - 17:52

    As long as you don't factor them into your discounted purchase price then yes. Treat it as a bonus.

  • c64 on 23/02/2021 - 17:08
    +1

    if its worth my time & effort to constantly worry about:

    you left out 5. data breach

    • mrvaluepack on 23/02/2021 - 18:48
      +1

      Yup, still getting spammed to death from the shopback fiasco.

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