Gift cards are a favorite method for gifting. They’re easy to get and great for using as a gift when wondering what to gift someone. However, ever thought of buying gift cards for yourself and use them to pay for your own things? I do this all the time to help me stay within budget. Here is a new way to buy gift cards and put extra cash in the wallet too: Get cash back when you buy gift cards! Cash back apps are enhancing the features of their apps and there are more ways for customers to earn cash back. One such feature is cash back when you buy gift cards. These two apps can be used to get cash back buying gift cards – Fetch Rewards & ibotta. Fetch Rewards has a feature called Pay with Fetch, and ibotta has a feature called Pay with Ibotta.
What is ibotta
Ibotta is a cashback app that has been around since 2012. They started out paying users for grocery purchases, and since, have evolved to give cash back on several categories like hotels, car rental and more. Recently, the popular ibotta app added a feature called pay with ibotta, which gives you cash back when you buy gift cards too!
How does Pay with Ibotta work
Once you download it and register, you head over to the section “Pay with Ibotta”. This will ask you to register a debit or credit card, which is used for paying for the gift card. Then you click on the retailer for which you want to buy a gift card. Enter the amount of the gift card you want to buy and that’s it. The indicated cash back will be instantly credited to your account, ready for you to cash out. This video explains it really well:
The amount of cash back varies by retailer. For now, the app only offers cash back on gift cards from about 30 retailers and restaurants. I expect that as this feature becomes more popular with consumers, the list will expand. I hope it does, because using gift cards is also a great way to help you stay within budget. Here are some of the retailers:
What is Fetch Rewards App
Fetch Rewards is an app that rewards users when buying specific brands at any store. It is available to download from the Apps Store & Google Play. Different from ibotta, users get cash back for buying any product of the specified brand. In ibotta, users get cash back for purchasing the specified product.
How Fetch Pay Works:
On the Fetch Rewards app there is a feature called Fetch Pay, in which you can also get cash back when you buy gift cards. Like ibotta, you connect a credit or debit card to the app. However, all gift cards purchased through Fetch Pay must have a minimum value of $25.00. The value of the card also may not exceed $200.00. Some cards may have set fixed amounts for purchasing, whereas others may be variable. Before you purchase a gift card, read the fine print. Sounds a little bit more demanding than ibotta. I use this app to buy high value gift cards.
How to Double your savings: Pay with Ibotta & Fetch Rewards gift cards
For people who are savvy shoppers, shopping through cash back sites is the ultimate savings because they get cash back from what they spend. How? Cash back sites pay you back a percent of what you spend online when you click through a merchant link on their site. Think of it as the cash back site being like a mall. When you enter that mall, inside is a Macy’s and other retailers. You head to a store, make a purchase and you earn a percentage back on what you spent. Basically, you get rewarded for shopping at that mall! Using a gift card you buy through ibotta or Fetch Rewards at cash back sites means you get cash back from the cashback site & the app – you double your savings! (Want to save even more? read how to triple your savings).