How cashbacks have become a powerful marketing tool

Of all the different types of customer bonuses or incentives available, a cashback is possibly the most attractive. We all love to get money back when we spend, which is why this technique has become a powerful tool for companies that want to attract and retain customers.

Banking with a Cashback

One of the earliest cashback schemes came from Discover Financial Service, a part of Morgan Stanley. Starting in 1986, they gave their cardholders a sum of money at the end of the year, based on the overall charges that were applied throughout the year.

There are now many credit cards, from numerous banks, that provide cashback to their users. American Express has some of the highest cashback rates, at up to 5% if you spend up to £10,000 in a year. Others like Sainsbury's Bank and Tesco let you collect points that can be turned into cash or other rewards.

You will also see special rewards-style bank accounts on offer, with a monthly cashback. These include Barclays Blue Rewards, Santander 123 Lite, and TSB Spend & Save Plus. In these cases, the cashback is typically based on the monthly bills paid or other activities carried out on the account.

Retail offers with cashbacks

Another great idea is to get money back as you shop. This is something that can be done on sites like Quidco and TopCashback. They each work with thousands of retailers, with Quidco giving up to 160% cashback and TopCashback giving you as much as 165%.

These sites work by passing on part of the commission that retailers give them for sending you to them, so, in theory, everyone wins. You can also get cashbacks directly from retailers. Among the brands that have realised the potential of offering rewards are H&M and New Look.  

Travel, games and other leisure activities  

No matter how you like to spend your free time, there are probably ways of getting a cashback as you do it. If you love to travel, then you could look at those cashback sites in the last point. You will find cashback offers are available from the likes of Expedia, Travelodge, and British Airways.

Another example comes with online casinos, where you can pick up a no-deposit bonus UK 2020 with £10+ free cash and new bonuses for slots on certain sites. This lets you try the games at Pink Casino, Monster Casino, or other sites without using any of your own funds to get started.

Among the other companies you will find on cashback sites are Ticketmaster, GameStop, and Netflix. As you can see, there is something to suit every taste and lifestyle, so you should look to take advantage of the deals that are of most interest to you.

The surge of cashback offers in recent years is proof of how effective these deals are, for the businesses that offer them as well as for the clients that use them. Before spending any money, you should take a look to see who could give you the best cashback right now.  

This article contains sponsored links.

Share this article: