6 Alternative Ways to Earn Rewards on Everyday Expenses
February 26, 2024
5 min read
Credit cards have long been a popular tool for earning rewards on everyday expenses. Whether buying groceries or booking a vacation, using a credit card can earn you points, miles, or cash back. However, not everyone can or wants to use a credit card. Fortunately, numerous alternative ways exist to earn rewards on your everyday expenses.
1. Cashback Apps and Websites
Affectionately called the 'new-age piggy banks,' cashback apps and websites are the modern shopper's hunting ground for savings. These platforms allow users to earn a percentage of their spending back in cash or virtual currency, making the reward process more tangible and immediate.
For those ready to dabble in the art of digital cashback, stand-out platforms include:
Rakuten
Formerly known as Ebates, Rakuten is one of the most well-known cashback apps. It has partnered with over 2,500 stores, including big names like Amazon, Walmart, and Kohl's. When you shop through the Rakuten portal, app, or Chrome extension, you can earn a percentage back on your purchases.
The cashback rate varies by store but can be up to 40%. Rewards are paid out quarterly via PayPal or check. Additionally, Rakuten often offers sign-up bonuses and referral bonuses.
Ibotta
Ibotta is a no-cost mobile app, compatible with most iOS and Android devices, that offers coupons and cashback for your shopping. Its primary emphasis is on providing rebates for grocery items.
Users can earn cashback by completing simple tasks, buying the specified products, and then scanning their receipts. Additionally, Ibotta extends its cashback offers to online shopping and features a team-saving option that boosts your cashback earnings when your team manages to redeem a certain number of rebates.
Honey
Think of Honey as your personal savings assistant that lives in your browser. With a single click, it scours the internet for the most advantageous coupon codes and applies them directly at checkout. But the benefits don't stop there.
Shoppers can also earn 'Honey Gold' reward points when they patronize participating online stores, redeemable for gift cards from numerous retailers. Saving money has never been easier or more rewarding with Honey.
2. Loyalty Programs
Loyalty programs are not confined to a single industry; they are loyalty ambassadors across the commercial world, from airlines to coffee chains. These programs often involve accumulating points based on spending, which can be redeemed for various items or experiences. Loyalty knows no bounds, and notable programs include:
Airline Miles and Hotel Points
Loyalty programs offered by airlines and hotels are a boon for frequent travelers. Each trip or stay accumulates points or miles to redeem for various rewards.
These can include complimentary flights and hotel stays, upgrades, and even special experiences such as spa treatments. Some programs also offer tiered memberships, providing extra benefits like priority services and access to exclusive areas.
Retail Loyalty Schemes
Many large retail companies have loyalty programs that reward regular customers. Shoppers earn points with every purchase, which can later be converted into discounts, gift cards, or special promotions. These programs often provide additional perks, such as early access to sales, superior customer service, and personalized deals based on past purchases.
Coffee Shop Rewards
Numerous coffee chains offer rewards programs to encourage repeat business. Regular purchases accumulate points that can be exchanged for free or discounted beverages. Some of these programs also offer birthday rewards, seasonal promotions, and even complimentary refills during visits.
3. Rebate Websites
Like cashback apps, rebate websites give users a return on their spending. These platforms differ in their mechanization and can offer substantial savings, especially on high-ticket items.
RetailMeNot
RetailMeNot is a comprehensive savings platform that goes beyond simple cashback offers. It amalgamates cashback opportunities with an array of deals and coupon codes to maximize user savings. This means you can stack your savings by using a discount code at checkout and still get cashback on your purchase, making your shopping experience even more rewarding.
TopCashback
TopCashback stands out for its high cashback percentages, often offering the highest rate in the market. What sets it apart further is its no minimum payout threshold. Unlike many other platforms, you can withdraw your savings anytime without any hassle, giving you prompt access to your earned cashback and making the savings experience smooth and convenient.
BeFrugal
BeFrugal not only offers cashback on a wide range of purchases but also entices new users with a generous $10 sign-up bonus. This immediate reward and its extensive cashback options make BeFrugal a compelling choice for those seeking to maximize their savings while shopping online or in-store.
5. Travel Hacking Strategies
Travel hacking has grown from a niche passion into a pursuit for savvy consumers looking to reduce the cost of globetrotting. Contrary to the name, travel hacking doesn't mandate a bundle of credit cards—it champions all methods of accumulating travel rewards.
Sign-Up Bonuses
Several travel rewards programs offer enticing sign-up bonuses to new members, which can be earned without any credit card commitment. These bonuses can significantly boost your rewards balance right from the start, leading to faster redemption for free flights, hotel stays, or other travel-related benefits. Often, you'll need to meet certain criteria, such as making a specific number of purchases within a set period, to earn the bonus.
Referral Programs
Many travel-related services incentivize their customers to refer friends or family members by offering additional points or discounts on future travel expenses. When a referred individual signs up and makes a qualifying purchase, the referrer often receives bonus points or credits. This is a great way to accumulate extra rewards while sharing useful services with others.
6. Everyday Spending Hacks
Turning ordinary expenses into enjoyable experiences is the mark of a smart spender. Implementing little-known tactics can add up to sizable savings over time.
- Reusable Container Programs: Some grocery chains offer reward systems for bringing your containers.
- Fuel Discount Days: Gas station loyalty programs often feature days with higher discounts, potentially threefold your regular savings.
- Create Your Own Rewards Program: Set up a system with friends or family to exchange points for various benefits, a DIY approach to loyalty that fosters community involvement.
Beyond Credit Cards
While credit cards remain a popular way to earn rewards on everyday expenses, they are far from the only option. From cashback apps and loyalty programs to digital wallets and rebate platforms, there are numerous alternatives available.
The rewards industry is on an upward trajectory, with technology ushering in many novel ways to earn rewards on daily expenses. So whether you're a credit card enthusiast looking to diversify your rewards or someone seeking alternatives to credit cards, there's never been a better time to explore the many ways to earn rewards on your everyday expenses.
