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Recently a new shopping site launched called Jet.com claimed to be more convenient than Costco and less expensive than Amazon. After writing about our price comparison, we found out that in fact, Jet tended to have much better deals than our favorite, online retailer.
Not only that, but Jet has one of the best shopping portals on the web, getting you cash back for online purchases that you’d make anyways. Not sure what a cash back portal is, or just want to find out how much you can save? Keep on reading.
What Are Cash Back Portals?
Cash back portals are websites that allow you to get more cash back than you normally would for your online purchases. For example, when you want to buy something at Walmart, instead of paying full price, you can get 3% – 4% off of every purchase you ever make.
The way these portals work is very simple. They partner with thousands of online retailers and become their affiliates. A link is then placed on their portal page. Each time someone makes a purchase using one of their links, they receive a certain percentage of money, just like a commission.
Instead of keeping 100% of this commission to themselves, they offer to give a large portion of it to their members, you. This is their incentive to convince you to first go to their website, click on one of the links to whatever retailer you wish to purchase at, and then make your purchase like you normally would. It’s really that easy, and only consists of one extra step to get your cash back.
What Are Some Popular Cash Back Portals?
Just from a quick search on Google, I found out that there are nearly 15 different cash back portals available. However, two very popular ones (or ones that provide the best cash back rates) are BeFrugal and TopCashBack.
Out of any other portal out there, I always tend to look toward them first. They payout on time, their rates are very high, and I’ve never had a problem with them. Furthermore, they have a great referral program as well.
BeFrugal claims that by using their portal, you’ll save an average of 7% on all online purchases. That’s a huge amount of savings. If you spend $1,000 monthly on online purchases, you’re going to save $70 dollars. That adds up really fast. In the image below, you can see that you can save 6% on Amazon on certain categories.
In fact, we’ve written an article here that shows you how you can use this portal to save up to 16.5% on all Amazon purchases.
TopCashBack also provides some great deals. In fact, they’re having a special where you can save 5% on all purchases made at Nordstrom.com. I check back this site often because they usually have special offers that other portals won’t have.
If you’re looking for the best portals, or trying to figure out which portal to use depending on the retailer, you can check out this top 10 list of cash back portals.
What’s So Special About The Jet.com Portal?
Jet’s primary focus is an online shopping site that competes with Amazon’s prices. In fact, their profit doesn’t even come from selling merchandise, but rather from the $50 annual membership fee. They try to sell things to their customers at cost. You can read more about Jet by reading this review here.
The one bonus that Jet offers is their shopping portal. They have rates much higher than other portals, and we’re here to do some comparisons. Normally, to find the best rate for a portal, we use a resource called CashBackMonitor. All you have to do is type in the retailer’s name, and it will tell you how much cash back you’ll receive at each portal.
Let’s take Nike.com as an example. If we go to CashBackMonitor and type in our retailer, we see that the highest rate is at 12%. Not a bad deal.
Now let’s head over to the Jet.com portal page and see what cash back percentage they have to offer.
They can get you 30% cash back on all purchases made at Nike if you first go through the Jet portal. That’s an 18% difference in savings.
However, there is one thing we must mention when using the Jet shopping portal. When you normally use a cash back portal, you are credited money into an account. After you reach a certain minimum (usually $20), you can cash out.
With Jet, all cash back is given to you in the form of Jet credit. This means that all cash back received must be used toward future Jet purchases. While it may not be as good as cash, we’re still getting a pretty good deal, especially since Jet has cheaper prices than Amazon.
Cash back usually takes up to 2 weeks to display as credit in your Jet account, where it can take up to 30 days to display in your other portal accounts.
How Can I Receive Even More Cash Back?
If you still want to add to your savings, you can more cash back by using a cash back credit card when checking out. We highly recommend the Citi Double Cash Card, as it gives you 2% cash back on all purchases with no annual fee. Furthermore, the first late payment is waived.
If you’re still in the month of July of 2015, it might not be too late to sign-up for the Discover It Double Cash Back Promotion. With this special deal, you are guaranteed to get a minimum of 2% cash back and up to a maximum of 10%. But you better hurry, as there’s only a week left before this deal expires. You can read more about this promotion here.
Currently, Jet only has around 600 retailers available for cash back options, but they are quickly growing. Other cash back portals on the web normally have anywhere from 3,000 – 10,000 different retailers that you can choose from. If you’re looking for more ways to save money online, we recommend the following:
- Save 16.5% On ALL Amazon Purchases
- Discover It Allows You To Save 18.5% On All Amazon Purchases
- Save 12.5% On All Purchases At Walmart
- Top 10 Cash Back Portals
- How Cash Back Portals Work
If you have any questions or comments, feel free to leave them down below in the comments section. Otherwise, I thank you for reading this article, and I wish you luck on your frugal journey.