(No time to read the full article? Here’s a quick summary on maximizing cash back with online shopping: Check out CashbackMonitor.com; Join Rakuten with a special referral link and get easy money for joining. Then start racking up cash back with no extra effort; and, Maximize your spending by getting a new credit card with a big sign-up bonus.
CashFreely’s core approach is to maximize your cash back in the least amount of time. Using a shopping portal can take some extra time and mental energy. But, you can earn simple cash back on top of your regular credit card spending, especially with online shopping. You can also add this earning on top of hitting a large signup bonus.
The first caveat is that you’re not going to be racking up the amount of cash back that a new credit card signup bonus will get you. That’s the easiest way to some major cash back. However, you can rack up several thousand cash back a year without too much hassle if you get a system in place.
Easiest Way to Maximize Spending: Get a New Credit Card with a Great Bonus and Good Earning Value
If you haven’t gotten a new credit card lately, consider our top offers that could get you an easy $500-$1,000 in cash back. Most people can comfortably hit these signup bonuses with everyday, monthly spending.
For example, if you spend $3,000 on your regular credit card you’ve had for years, you’re probably earning 1-1.5% in cash back. If you get a new card, you’ll probably earn higher rates — such as 2% cash back — AND you’ll add $500+ in sign-up bonus value by spending the same $3,000. (Worried about your credit score? Read: How Applying for a Credit Card Increases Your Credit Score)
Here’s the top-ranked personal and business card for those looking for a new card. These are chosen because of their sign-up bonus and ongoing earning value.
Best Overall Cash Back Card:
Our #1 personal card that we recommend most often. Hands down the single best "starter card" for beginners and MVP card for overall value and flexibility. For those looking for cash back, 60,000 Chase Ultimate Reward points can redeemed for $600 cash back.
Best Sign-Up Bonus Business Cash Back Cards:
A highly recommended business card for signup bonus and 3x (3% cash back) categories on the first $150,000 spent in combined purchases. All Ink cards earn Ultimate Rewards with the option of converting to cash back.
On to the Shopping Portals to Online Shopping…
Full disclosure, I’m an amateur when it comes to shopping portals, but people rack up lots of cash using them. So, I reached out to some experts to gather the best of the best in order to pass along some good advice and put my spin on it. Feel free to add your thoughts in the comments below. Also, there are ways to earn additional rewards through dining and hotel rewards portals, but this article focuses on shopping portals.
How do shopping portals work?
To use a shopping portal, you use the store of your choice to complete your purchase. Before going directly to your online retailer, you begin at the shopping portal website. Then you go to the store’s site. Once, you click through to your store’s site, browser cookies are used to track the source of your purchase. That’s how the sites connect the purchase to the portal. Many of the best portals, such as Rakuten (formerly Ebates) and other airline portals, now have browser extensions, which allow you to skip the first step completely and go straight to your online store.
For example, if I want to make a purchase on Macys.com, I first go to my shopping portal and see if I can earn anything extra. The portal might say, “5% on Macys.com.” I just click that link and make my purchase at Macys.com. Then, the shopping portal will pay you 5% of your purchase!
The cash back is on top of any cash back or points you earn with your credit card!
Cash Back Shopping Portals
These portals are not affiliated with rewards programs. You earn cash back for purchases you make.
Probably the most well known cash back portal is Rakuten. It’s really easy to use, and even has it’s own Chrome browser extension to let you know automatically if you could earn cash back. If you’re interested in signing up, here’s a referral link that will get you extra bonus money.
Skip the craziness of the mall and shop online to earn more rewards and cash back!
Chase Ultimate Rewards Mall
When you shop at the Chase Ultimate Rewards Mall, you can earn valuable Chase points known as Chase Ultimate Rewards. Even though you are earning points, you can always redeem your points for cash back at a rate of 1 cent per point. This means if you are earning 4x points, for example, with a particular store, this is the same as earning 4% cash back, if you redeem your points for back.
For more about the best overall card for beginners, read Why We Love the Chase Sapphire Preferred.
It doesn’t get much better than Chase Ultimate Rewards. Use their shopping portal to earn extra points.
In Summary
Overall, this is an incredibly quick and easy way to earn cash back on purchases you were going to make anyways. To simplifier things, it is best to pick one portal and sticking with it. But if you are up for the challenge then pick the best payout on every purchase you make to truly maximize your cash back. Typically, Rakuten is the top rated portal worth giving a try.
If you’re not quite sure, take a quick at the site Cashback Monitor – a site that summarizes all available offers for both Cash Back portals and Rewards portals. You can search by store to see what portal has the best offer. Keep in mind that some offers can be misleading because they may not offer their highest deal for all items. That’s where I get frustrated and would rather avoid the mental energy.
Cashback Monitor shows you what portal gives you the best value.
Final point: I strongly recommend getting a new credit card with a great signup bonus. When you knock out your minimum spending requirement, you’ll be looking at a big amount of cash back with far less effort spent. If you’re not sure where to start, the best overall card is the Chase Sapphire Preferred card. Then, add the card to your CashFreely dashboard and forget about your deadlines. You’ll get email reminders for your bonus deadline and your annual fees. =)
