If you enjoy earning cash back on purchases, Ibotta is an app you might consider downloading. Ibotta is a rebate app that enables users to earn cash back on both in-store and online purchases. Here’s some info you should know about the app before downloading.
1) There’s no coupons, just rebates
Unlike a coupon that discounts the price of an item at the time of purchase, you have to pay full price for the product and then redeem the rebate later. To redeem cash, you must have at least $20 accumulated in your account, and the money is sent to you via Venmo, PayPal, or a store gift card. *Note: It can take weeks, if not months, to accumulate $20. This won’t be a way to make money quickly.
2) Bonuses get you more cash
If you sign up and redeem a receipt within 10 days, you get a $10 bonus. Ibotta also offers a referral program, so you get $5 for each friend you sign up as long as they redeem one purchase. There are other ways to earn bonus cash available on the app (typically around $2) which is a great perk.
3) Only certain stores participate
One of the downsides of the app is that there are limited stores to choose from. Luckily popular stores such as Walmart, Walgreens, and Target are included on the list, in addition to many others. Also make sure to keep an eye out for restaurants, as many popular eating establishments offer rebates on drinks.
4) It can make you overspend
It might be tempting to want to rack up more dollars in your account by buying more things, but this just leads to overspending. Ask yourself if you would buy the item if you didn’t have the app. You should always make a shopping list before heading to the store – then check Ibotta to see if any of your items are listed. Think of it as a way to make a little extra money, not as a coupon, because you aren’t actually saving money at the time you make the purchase.
Overall, Ibotta is a great way to earn cash back, even if it’s just a couple bucks every time you go to the store. Just make sure you aren’t making unnecessary purchases and you can make a little money in the long run!
Post written by Amanda Owens, SMMC Program Assistant