Earning Rewards with Cashback Portals
Cash Back or Shopping Portals are a way to earn rewards on top of the normal credit card rewards such as Cash Back, Airline Miles, Hotel Points and Transferrable Points. They often feature special promo codes to receive additional discounts on top of the prices found on the retailers website. I highly recommend using a shopping portal, there is no downside to using a shopping portal and there are many options. Some of the best portals are Rakuten, Top Cash Back, Delta Sky Miles Shopping, AAdvantage eShopping, AA Simply Miles and American Express Amex Offers. There are a couple methods of Double Rewards
There are two methods for earning double shopping portal rewards. American Express credit cards have a feature called Amex Offers. They offer limited time deals at certain merchants that offer a percentage or fixed dollar amount off. After Activating the Amex Offer for Lenovo on my Amex Hilton card I can earn $100 back on a purchase of atleast $660. If I goto Rakuten and search for Lenovo, they are currently offering 12% Cash Back. I could earn either $79 Cash Back or 7,900 American Express Membership Reward Points. I would choose the Amex Points as they are valued at $158 since they are worth 2 cents each.
Another method to earn Double Rewards is to is specific for earning American Airlines Miles. American Airlines has a shopping portal called AAdvantage eShopping and a site called AA Simply Miles, which is a card linked offer site. You just need to add the offer to your card and then can browse to the retailer’s website and receive the discount. Simply Miles only accept Master card credit cards currently. Last year I earned 60,000 AA miles on a $250 purchase when they had a retailer offering 40 points per dollar with a 5x points multiplier. 60,000 miles can be used to fly Business Class to Tokyo on once they open for international travel. The current cash price of that ticket is $6,364.
Cash Back Monitor is a Cash Back Portal/Shopping Portal Aggregator. You can search for over 15,000 retailers on Cash Back Monitor and they currently have 53 different rewards programs listed. You can make a custom list to show certain retailers and certain shopping portals.
Rakuten is a site that was previously called Ebates. They are one of most known cash back sites and frequently have commercials on TV. They offer Cash Back rates upto 80% back. You can either choose Cash Back or earn American Express Membership Rewards points. Choose the option for Amex Points only if have their Amex Gold or Platinum credit cards. You can setup Direct Deposit with Rakuten and they will deposit into your account once per quarter (May, Aug, Nov, Feb).
Top Cash Back is another great option for earning cash back. When I started my new website (This One), I paid $59.88 for my Domain Hosting and earned $23.98 Cash Back. That was a purchase I was planning on making anyway. I used Cash Back monitor to see which Hosting Companies were offering the best cash back rate. They are currently offering great cash back rates on travel, 6% for Marriott, 7% for Booking.com and 9% for Travelocity. Transactions take about 30 days to post to your account and you can choose to transfer to your bank account or several gift card options.
It is a no brainer to use a shopping portal and there are a lot of options to choose from. My recommendation is to use Cash Back Monitor to see which Shopping Portal is offering the best rate although it does not always make sense to go with the site offering the highest rate. If there is a site that I have not used before I would prefer to use Top Cash Back or Rakuten as I am familiar with how they work. Certain retailers have a minimum amount required to cash out. I once booked tickets to a concert and chose a cash back site I had not used before and only earned $7 but later found out I need a minimum of $25 to cash out and it is unlikely that I will ever use them again.