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Shop and save: 7 top cash back apps for easy savings

In this article, we share our picks of top cash back apps for millennials and Gen Z, and the pros and cons of each
Beami Team
4 min

Some of the products featured here are from our partners who compensate us. However, this does not influence our evaluations. Our opinions are our own. Here is our list of partners and how we make money. Information is accurate as of 2/20/23 and is subject to change. Visit partner websites for full details.

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It's time to talk about some of the most popular cash back apps for millennials and Gen Z. We’re all about finding ways to save money, and these apps are a great way to do just that. Let’s dive in and take a look at the characteristics, pros and cons of each.

1. Rakuten

Rakuten (formerly known as Ebates) is a cash back app that allows users to earn cash back on their purchases at various retailers. 

How Rakuten works:

  • Users create an account and link their credit or debit card to the app.
  • When they make a purchase at a participating retailer, they earn a percentage of cash back, which is added to their account.
  • Users can then redeem their cash back rewards through PayPal or a check.

Pros:

  • Large selection of retailers: Rakuten works with a large selection of retailers, making it easy to earn cash back on a variety of purchases.
  • Easy to use: Rakuten is easy to use and navigate.
  • Offers a browser extension: Rakuten also offers a browser extension that automatically applies cash back offers to purchases made on select websites.

Cons:

  • Requires linking a credit or debit card: Some users may be hesitant to link their payment information to a third-party app.
  • Cash back percentages can be low: While Rakuten offers cash back on many purchases, the percentage earned can sometimes be low.

2. Dosh

Next on the list is Dosh. This is a newer cash back app that links to your credit or debit card to earn cash back automatically. You can earn cash back at thousands of retailers and restaurants, and it's available both online and in-store. No need to scan receipts here, folks. 

How Dosh works:

  • Users create an account and link their credit or debit card to the app.
  • When they make a purchase at a participating retailer, the app automatically tracks their purchase and adds cash back to their account.
  • Users can then redeem their cash back rewards through PayPal, Venmo, or bank transfer.

Pros:

  • Easy to use: Dosh is easy to use and navigate.
  • Large selection of retailers: Dosh works with a large selection of retailers, making it easy to earn cash back on a variety of purchases.
  • Automatic cash back: Dosh offers automatic cash back, meaning users don't need to activate offers or scan receipts to earn rewards.
  • Cash back percentage can be high: Dosh offers high cash back percentages on some purchases, making it possible to earn significant rewards.

Cons:

  • Limited to linked card purchases: Like other cash back apps, Dosh only offers rewards on purchases made with a linked credit or debit card, so users may miss out on rewards for cash purchases.
  • Limited redemption options: Dosh only offers a few redemption options, such as PayPal or bank transfer, which may not be suitable for everyone.
  • Slow to accumulate rewards: Depending on a user's spending habits, it may take some time to accumulate significant cash back rewards.

3. Ibotta

Ibotta is a cash back app that allows users to earn rewards for their purchases at various retailers. 

How Ibotta works:

  • Users browse offers in the app and select the ones they want to redeem.
  • They then make their purchase at a participating retailer and upload a photo of their receipt to the app.
  • Once their receipt is verified, the cash back reward is added to their account, and they can redeem it through PayPal, Venmo, or gift cards.

Pros:

  • Large selection of retailers: Ibotta works with a large selection of retailers, making it easy to earn rewards on a variety of purchases.
  • Offers bonuses: Ibotta offers bonuses for reaching certain spending thresholds or for redeeming specific offers.
  • Easy to use: Ibotta is easy to use and navigate.

Cons:

  • Requires uploading receipts: Users must upload a photo of their receipt to the app, which can be time-consuming and may deter some users.
  • Offers can be limited: While Ibotta offers a large selection of offers, the offers available may not always be relevant to a user's needs or preferences.

4. Fetch Rewards

Fetch Rewards is a cash back app that allows users to earn rewards by scanning their grocery receipts. 

Here's how Fetch works:

  • Users download the app and scan their grocery receipts after each shopping trip.
  • The app then gives them points for qualifying purchases, which can be redeemed for gift cards to various retailers

Pros:

  • Easy to use: Fetch Rewards is easy to use and navigate.
  • Offers rewards for grocery shopping: Fetch Rewards offers rewards for purchases made at grocery stores, making it easy to earn rewards on essential purchases.
  • No need to pre-select offers: Users don't need to select offers before shopping; they simply scan their receipts and earn points for qualifying purchases.

Cons:

  • Limited to grocery purchases: Fetch Rewards only offers rewards for purchases made at grocery stores, so users may not be able to earn rewards on other purchases.
  • Limited redemption options: Fetch Rewards only offers gift cards as a redemption option, so users may not be able to redeem their rewards for cash or other rewards.

5. Honey

Honey is a browser extension that helps users find the best deals and coupons for online shopping. It works by automatically searching for and applying relevant promo codes and discounts at checkout.

Pros:

  • Easy to use: Honey is a browser extension, so users can download it and start using it with just a few clicks.
  • Free: Honey is completely free to use.
  • Saves money: By automatically searching for and applying promo codes and discounts, Honey can help users save money on their online purchases.
  • Users can also earn Honey PayPal rewards points and redeem for cash, gift cards, or shopping credits.

Cons:

  • Limited to online shopping: Honey only works with online retailers, so it can't help users save money on in-store purchases.
  • May not always find the best deals: While Honey is effective at finding promo codes and discounts, it may not always find the best deal available.

6. Fluz

Fluz is a cash back app that allows users to earn rewards for purchases and for referring others to the app. 

How Fluz works:

  • Users can purchase gift cards from popular retailers and earn cash back, essentially paying Fluz before paying the merchant.
  • Users then use the gift card to pay for the purchase at checkout.
  • Users can also earn extra rewards at select merchants by inviting friends to shopping “parties” 

Pros:

  • Can be used in-store or online: Fluz works with both in-store and online purchases, so users can earn cash back on a variety of purchases.
  • Easy to use: Fluz is easy to use and navigate.
  • Can earn rewards for referrals: Users can earn additional rewards by referring friends and family to the app.

Cons:

  • Limited selection of retailers: Fluz only works with a limited selection of retailers, so users may not be able to earn rewards on all of their purchases.
  • Requires linking a credit or debit card: Some users may be hesitant to link their payment information to a third-party app.

7. ​​Drop

Drop is a cash back app that allows users to earn rewards by linking their credit or debit cards and making purchases at participating retailers. 

How Drop works: 

  • Users create an account and link their credit or debit card to the app.
  • They then browse the available offers in the app and select the ones they want to redeem.
  • When they make a purchase at a participating retailer using their linked card, they earn points that can be redeemed for rewards such as gift cards.

Pros:

  • Easy to use: Drop is easy to use and navigate.
  • Large selection of retailers: Drop works with a large selection of retailers, making it easy to earn rewards on a variety of purchases.
  • Offers personalized offers: Drop offers personalized offers based on a user's spending habits, making it easier to find relevant offers.

Cons:

  • Limited to credit or debit card purchases: Users can only earn rewards on purchases made with a linked credit or debit card, so they may miss out on rewards for cash purchases.
  • Rewards may take a while to accumulate: The rewards points earned with Drop can take some time to accumulate, meaning users may need to make multiple purchases to earn a significant reward.

Which cash back app is right for you?

So, which cash back apps offer the most value and are easiest to use? In our opinion, Rakuten, Dosh and Ibotta take the cake. These apps have a large number of stores and products available, high cash back rates, and are available both online and in-store. No matter which app you choose, using a cash back app is a great way to save money and earn rewards on your purchases. So get to it!

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