Here's My Method For Getting The Maximum Cash Back On Everything I Buy
I love the smell of cash back in the morning.
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Last year, people turned to hobbies like baking bread and playing chess to get them through lockdown, but my personal quarantine hobby was a little different: I became obsessed with something called reward stacking.
In a nutshell, reward stacking is when you combine several shopping rewards programs with a rewards credit card to get the maximum discounts, points, and/or cash back that you possibly can.
There are a few different things you'll need to start stacking rewards. First, you'll want a rewards credit card that offers you travel points or cash back.
And if there's a retailer where you tend to shop a lot, you might want to open a rewards card through them, too, if they offer it.
But you should know: Credit card rewards aren't worth it unless you can pay your card off in full each month.
Once you've got a rewards card set up, you'll want to download some rewards shopping apps that you can use to get points while you shop, like Drop.
And to really take it to the next level, there are additional rewards apps that you can stack with your credit cards and Drop to get even more out of your purchases.
Here's a little taste of what reward stacking looks like for me in practice. The other day, I decided that I wanted to get a new pair of sandals to start out the summer. So first, I looked in Drop and Slide to see which footwear retailers work with both apps.
Next, I got back on my phone and tapped the link to shop at Foot Locker via Drop. I shopped on the website as usual, and then at checkout, I noted the total and switched over to Slide.
My total came to $56.48, and thanks to my reward stack, I got 3% cash back from my credit card ($1.69), 4% cash back from Slide ($2.26), and 4,379 points toward my next Sephora gift card in Drop.
Of course, the apps that I use to get rewards and cash back collect data about me and my spending. That's not a huge concern for me, but depending on how you feel about privacy and your data, it could be for you.
So now that you've seen my personal reward-stacking formula, I'm super curious to know what you use to get deals and cash back when you shop. Share your favorite pointers in the comments below!
And for more money tips and tricks, check out the rest of our personal finance posts.