Double-dipping with cash-back app

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Topic Author
mindgap
Posts: 146
Joined: Sun Nov 18, 2018 1:24 pm

Double-dipping with cash-back app

Post by mindgap » Sat Nov 16, 2019 3:25 pm

Hi all,

I mentioned it in another thread before and I thought some of you might be also interested to learn about a cash back app I use to maximize my cash back return.

Basically, the app sells you gift card vouchers for stores like Amazon, Walmart, CVS, Sams Club, Lowes, etc...

Every shop has a different cash back rate of course but mostly its between 1% - 6% which I think is great. So once you know your total check out amount (lets say I checkout at Amazon and see the total amount including Taxes) I use the Fluz app to generate a gift card with the exact amount I need to pay the bill. I get my gift card code immediately in the app and copy it over to Amazon and I'm all set.

So my double-dip setup is like this:

- I link my CC in Fluz (1.5% cash back on any purchase)
- I buy a gift card for lets say Home Depot during check out (2% cash back right now)
- In total I get 3.5% cash back.

I think it's a great tool to bump my cash back amount by a lot. Even debit cards can be linked so if somebody doesn't use a cash back card he/she can still get some.

On top of this you also earn cash back from other peoples purchases. Let's say you invite somebody to your network you will earn a small percentage of his/hers shopping. I tried it together with my GF and it worked out so far.

All in all it looks solid and I thought I would share it here since a lot of people here love to save a buck or two :)

runner3081
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Re: Double-dipping with cash-back app

Post by runner3081 » Sat Nov 16, 2019 3:38 pm

Interesting, though, this could become somewhat of a pain if you need to return the item, right?

I assume the store gives you a new physical GC upon return.

Also, you lose any CC benefit protections (extended warranty, etc., if applicable).
Last edited by runner3081 on Sat Nov 16, 2019 6:17 pm, edited 1 time in total.

Topic Author
mindgap
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Re: Double-dipping with cash-back app

Post by mindgap » Sat Nov 16, 2019 3:44 pm

runner3081 wrote:
Sat Nov 16, 2019 3:38 pm
Interesting, though, this could become somewhat of a pain if you need to return the item, right?

I assume the store gives you a new physician GC upon return.
Good point.

Yes, I had to return something on Amazon and the amount just goes back into your Amazon account and can be used for a different purchase. I still use it for items I know I won't return (Tea, printer cartridges, etc.) You could also pay your phone/cable bill using the app since they support Verizon, Sprint, AT&T (all 2% right now) where I usually don't have any returns happening.

wxl31
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Re: Double-dipping with cash-back app

Post by wxl31 » Sat Nov 16, 2019 4:43 pm

Anybody tried this with a BoA cash rewards card? Does it code as an online purchase?

shess
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Re: Double-dipping with cash-back app

Post by shess » Sat Nov 16, 2019 5:48 pm

mindgap wrote:
Sat Nov 16, 2019 3:25 pm
Basically, the app sells you gift card vouchers for stores like Amazon, Walmart, CVS, Sams Club, Lowes, etc...

Every shop has a different cash back rate of course but mostly its between 1% - 6% which I think is great.
Why do these places offer cash back, and how do they afford it? Giving cash back for places I already shop seems like a no-win situation for the various parties involved - I save some money, which presumably someone else pays for, so what does whoever pay get in return?

I'm not being snarky, I'm being serious. Sometimes I'm fine with the trade, but I don't offhand see where Fluz makes money, so I'm not confident with them.

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samsoes
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Re: Double-dipping with cash-back app

Post by samsoes » Sat Nov 16, 2019 6:07 pm

runner3081 wrote:
Sat Nov 16, 2019 3:38 pm
I assume the store gives you a new physician GC upon return.
What's a physician gift card? Are these cash back deals only available to doctors?
"Happiness Is Not My Companion" - Gen. Gouverneur K. Warren. | (Avatar is the statue of Gen. Warren atop Little Round Top @ Gettysburg National Military Park.)

marcopolo
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Re: Double-dipping with cash-back app

Post by marcopolo » Sat Nov 16, 2019 6:11 pm

Amex preferred Blue card gives 6% cash back at grocery stores. We use it to also buy Amazon Gift cards at the grocery store, getting 6% for a lot of items we would have bought anyway, beyond groceries.
Once in a while you get shown the light, in the strangest of places if you look at it right.

Topic Author
mindgap
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Re: Double-dipping with cash-back app

Post by mindgap » Sat Nov 16, 2019 7:27 pm

shess wrote:
Sat Nov 16, 2019 5:48 pm

Why do these places offer cash back, and how do they afford it? Giving cash back for places I already shop seems like a no-win situation for the various parties involved - I save some money, which presumably someone else pays for, so what does whoever pay get in return?
Did some research and found this:
https://support.fluz.app/hc/en-us/artic ... come-from-

HEDGEFUNDIE
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Re: Double-dipping with cash-back app

Post by HEDGEFUNDIE » Sat Nov 16, 2019 7:36 pm

shess wrote:
Sat Nov 16, 2019 5:48 pm
mindgap wrote:
Sat Nov 16, 2019 3:25 pm
Basically, the app sells you gift card vouchers for stores like Amazon, Walmart, CVS, Sams Club, Lowes, etc...

Every shop has a different cash back rate of course but mostly its between 1% - 6% which I think is great.
Why do these places offer cash back, and how do they afford it? Giving cash back for places I already shop seems like a no-win situation for the various parties involved - I save some money, which presumably someone else pays for, so what does whoever pay get in return?

I'm not being snarky, I'm being serious. Sometimes I'm fine with the trade, but I don't offhand see where Fluz makes money, so I'm not confident with them.
You are assuming that the person would have gone to that store anyway without the app. That’s not a good assumption.

Knowing that you can pay with a gift card at X% off can nudge you enough to visit that store when you otherwise wouldn’t have.

HEDGEFUNDIE
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Re: Double-dipping with cash-back app

Post by HEDGEFUNDIE » Sat Nov 16, 2019 7:46 pm

Interesting concept. But this starts getting into time value of money territory.

It appears I can use Fluz to pay my monthly cell phone bill, which would net me $1.40. Am I willing to give up the convenience of autopay to earn that $1.40?

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RickBoglehead
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Re: Double-dipping with cash-back app

Post by RickBoglehead » Sat Nov 16, 2019 8:00 pm

HEDGEFUNDIE wrote:
Sat Nov 16, 2019 7:46 pm
Interesting concept. But this starts getting into time value of money territory.

It appears I can use Fluz to pay my monthly cell phone bill, which would net me $1.40. Am I willing to give up the convenience of autopay to earn that $1.40?
Per month, compounded, invested ... :twisted:

No, it isn't.
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Topic Author
mindgap
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Re: Double-dipping with cash-back app

Post by mindgap » Sat Nov 16, 2019 8:02 pm

HEDGEFUNDIE wrote:
Sat Nov 16, 2019 7:46 pm
It appears I can use Fluz to pay my monthly cell phone bill, which would net me $1.40. Am I willing to give up the convenience of autopay to earn that $1.40?
As far as I know this is already worth it for some people here in this forum including me :)

Topic Author
mindgap
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Re: Double-dipping with cash-back app

Post by mindgap » Sat Nov 16, 2019 8:12 pm

HEDGEFUNDIE wrote:
Sat Nov 16, 2019 7:36 pm
shess wrote:
Sat Nov 16, 2019 5:48 pm
mindgap wrote:
Sat Nov 16, 2019 3:25 pm
Basically, the app sells you gift card vouchers for stores like Amazon, Walmart, CVS, Sams Club, Lowes, etc...

Every shop has a different cash back rate of course but mostly its between 1% - 6% which I think is great.
Why do these places offer cash back, and how do they afford it? Giving cash back for places I already shop seems like a no-win situation for the various parties involved - I save some money, which presumably someone else pays for, so what does whoever pay get in return?

I'm not being snarky, I'm being serious. Sometimes I'm fine with the trade, but I don't offhand see where Fluz makes money, so I'm not confident with them.
You are assuming that the person would have gone to that store anyway without the app. That’s not a good assumption.

Knowing that you can pay with a gift card at X% off can nudge you enough to visit that store when you otherwise wouldn’t have.
Exactly this. Shoppers in the US love when they get even a little bit cash-back off their purchase. Also, it enables people who cant have a rewards CC to get some cash-back.

softwaregeek
Posts: 249
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Re: Double-dipping with cash-back app

Post by softwaregeek » Wed Nov 20, 2019 2:59 pm

I use my 3.5pct cash back grocery rewards card to buy Amazon gift cards at Safeway. This gives me safeway rewards worth approximately 3pct for a total of 6.5pct.

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