‘I’ve made extra £700 just by shopping online – you’re missing out if you don’t do this’
A savvy shopper has explained how he has made an extra £700 by shopping online – and has warned others are "missing out big time".
Yang Sun, 47, a customer success manager from South London, started using TopCashback in 2013. This is a type of cashback website that gives you a percentage back of your online spends when you click through to your chosen retailer through the TopCashback website.
On average, TopCashback says members can earn £345 every year – but it all depends on how much you shop online. Yang said: "To me, cashbacks are savings, hence I generally make withdrawals into my bank account. These savings are contributing to and helping out on my daily spending. My favourite [cashback] is not necessarily based on the percentage, but the overall savings I will be making. My best could be £10 cashback when I am spending £30 with certain retailers."
To anyone who isn't already using cashback websites, Yang warned: "You missed out big time but it's never too late to join up and start saving." The only downside is you sometimes have to wait a bit of time for the cashback to be confirmed – so this isn't an instant way to make extra money.
You also need to make sure you click through to the retailer through the cashback website, otherwise your cashback may not track properly. TopCashback earns commission when someone clicks through one of its links to a retailer. Other popular cashback websites include Quidco.
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Other ways to get cashback
The majority of UK supermarkets run their own loyalty schemes where you earn points every time you spend money – these points can then be converted back into vouchers to spend in stores. For example, Tesco shoppers get one Clubcard point for every £1 spent on groceries in stores and online, or one point for every two litres of fuel you buy at a Tesco petrol station.
When you've saved up 150 points, you get a Tesco voucher worth £1.50. Sainsbury’s shoppers get one Nectar point for every £1 spent in stores and online, or for every litre of fuel purchased. You also get points when you shop with other retailers, including Argos, eBay, Sky and VUE cinemas. Each point is worth 0.5p to spend in Sainsbury's stores – so 100 points are worth 50p.
You may also be able to earn cashback from your debit or credit card. Chase is named as a top-pick for cashback in terms of debit cards on the MoneySavingExpert.com website. It gives 1% cashback on most spending, up to £15 a month, although after a year you need to pay in at least £1,500 a month to continue getting the cashback.
For credit cards, MSE flagged the Amex Cashback Everyday credit card for offering 5% cashback. This usually only applies for the first three months, up to a maximum of £100, but this has been temporarily extended to five months, and up to £125. This drops down to 1% after this. Also keep in mind that you need to spend at least £3,000 each year to get any cashback. Always remember to pay off your credit card in full every month to avoid paying interest.
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