The best cashback websites, schemes and cards to boost your spending power as the cost of living rises

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The rising cost of living has left households tightening their purse strings and many will be looking for ways not only to cut down their spending but also to boost their income.

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Cashback apps, cards and loyalty schemes are a sure-fire way to do this with consumers able to claw back hundreds of pounds a year for their efforts.

These programmes give customers points and/or funds back for their everyday purchases, offering the chance to be rewarded for their normal spending.

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Whilst the initial savings may seem small, they soon add up and can give users a substantial sum off their future shops.

i rounds up the best cashback schemes and credit cards on the market to help you make the most of your spending.

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Cashback websites and apps

There are a growing number of cashback websites and apps that can help consumers get money back on their purchases.

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Two of the most well known are TopCashBack and Quidco, both of which give users cashback on purchases from a number of retailers through PayPal, gift cards or a bank transfer.

To claim money back, all consumers have to do is visit a retailer, via the cashback website. After a purchase is made, the store will give the cashback sites a commission for sending the customer to their website.

This is then split with the customer, as cashback, and can be used on future purchases.

Membership is free for these sites although both offer paid, premium memberships where customers will get even more money back on their buys.

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Shopmium is another app worth trying as it gives users money back on a range of supermarket products.

Customers can also get money off their weekly food shop via exclusive offers such as “50 per cent off popular items” and will get the chance to try new products that have come to market for just £1.

Loyalty schemes

Loyalty schemes are another way to boost income with most supermarkets, and many other retailers, now offering one.

Tesco‘s Clubcard is one of the best for food shoppers as consumers are able to get substantial sums off their purchases in store when scanning their card – as well as the option to build up vouchers.

Lidl Plus and Sainsbury‘s Nectar card, which also can be used to redeem and spend points at other retailers including eBay, Habitat and Argos, both give customers the chance to get money off different products each week.

Experts say Nectar’s Avios offering is its unique selling point with users able to convert points for airline miles.

Rob Burgess, editor of loyalty points website headforpoints.com, said: “The new Avios tie-up is probably the best Nectar redemption option going if you already collect Avios and know how to maximise them.

“Most Nectar redemptions get you 0.5p per Nectar point. As one Nectar point equals 0.625 Avios, and if you think you can get 1p per Avios when you spend them, you’re getting 0.625p per Nectar point when you convert to Avios. This trumps most other options.”

Aside from supermarkets, another of the best loyalty schemes on offer is Boots’ Advantage Card, with customers receiving 4 points per every £1 spent in store or online.

Every point is worth 1p meaning points – and funds – can easily add up.

Credit and debit cards with the best cashback

One of the best ways to get cashback is through your debit or credit card with most banks offering some sort of scheme.

Currently, one of the best credit card cashback offerings is American Express’ Platinum Cashback Everyday card which gives users 5 per cent cashback on their purchases, up to £125, for the first three months of membership.

After this, consumers can receive 0.75 per cent cashback on spend up to £10,000 and 1.25 per cent when paying out over £10,000. The card comes with an annual fee of £25.

Meanwhile, Barclaycard’s Rewards card offers 0.25 per cent cashback and no foreign exchange fees with no annual fee, giving users money back all year round.

Amazon‘s Platinum Mastercard is a great option for regular users of the site. When signing up, consumers will immediately get a £20 Amazon gift card.

Prime members will also get three Amazon Reward Points per every £2 spent with every 1,000 points equivalent to a £10 Amazon Gift Card. Meanwhile, non-Prime users will get 0.5 points for every £2 spent.

As a result of cuts in rewards on cashback and store voucher cards in recent times, there has also subsequently been an increase in interest in airline cards.

The most attractive shopping rewards credit card is now the free British Airways American Express card where customers get 1 Avios per £1 spent on the card.

This converts into 1.6 Nectar points per 1 Avios with 1.6 Nectar points worth 0.8p, meaning customers are getting 0.8 per cent back on spending.

Mr Burgess said: “The Avios to Nectar conversion rate is so generous that many have started to exclusively use their Avios for supermarket shopping.

“With the money they save, they are buying flights for cash, freeing themselves from restrictions over the choice of airline, dates and times that often come with airmiles tickets.”

Meanwhile, anyone who works for the NHS is also able to access a Spree prepaid card.

Consumers top up the funds before shopping and when spending, they will get cashback in a range of stores including several supermarkets such as Sainsbury’s and Marks & Spencer.

This means users will be able to get a substantial amount of money back on their purchases over the course of a month if they use it for their weekly food shop.

For example, as consumers get 3 per cent cashback at Sainsbury’s, when spending £200 a month, they would get £6 back.

Survey sites

It is also possible to make money in your spare time by taking part in surveys, some of which pay generously.

One of the most popular is YouGov. Users sign up and choose how often they want to receive a survey, which will be based on a range of current topics.

Each survey completed will earn users points and, after reaching 5,000 points, they will be sent £50 directly.

Populus Live is another site that notifies users when surveys are available, with participants earning £1 for every five minutes.

It is easy for new users to join, giving just their name and email address.

Once they have accumulated 50 points, Populus will pay consumers £50 at the next payment date.

Other sites will let you redeem points quicker. Prolific offers users surveys based on their lifestyle, interests and other factors with the length of time spent of the survey determining how much you get paid. The longer the survey, the more money earned.

Once users earn £5, they can cash out and the money will be directly transferred to Paypal.



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