Have you ever heard of cash back? It is an easy way to make free money every time you shop online. For us dropshippers, this means we make more profit on every single sale!
(If you prefer to watch the video about this instead of reading, click here)
How Cash Back Works
There are two types of cash back: (1) cash back websites and (2) cash back credit cards. Let's cover cash back websites first because they're the easiest to use.
Let's say you need to make a purchase on Walmart.com (we'll use Walmart in this example but you can do this for any website you need to shop on). The first thing you should do is head over to Giving Assistant to create an account:
Click here to signup for Giving Assistant
Once an account is created, search for Walmart:
On the right, it will tell you how much cash back you will get for going through Giving Assistant. At the time of this post, it was 5%. That means for every $100 I spend on Walmart, Giving Assistant will send me $5! Not bad! In face, if you use my affiliate link above, you'll also get another $5 after you sign up and use Giving Assistant for the first time!
All you have to do now is click “shop now”. That will bring you to Walmart.com. Place your order as normal, and you're good to go!
Make Cash Back Work
In order for the cash back website to work properly, there are some “best practices” that you need to know about:
- Make sure your shopping cart on Walmart is empty before you click on “shop now” in Giving Assistant
- Once you're on Walmart, do not leave the website or try to click any other coupons or cash back websites. You can only use one cash back website per order (more on this later).
- The cash back won't be posted to your Giving Assistant account until a few days later. If it's not there in a few days, contact support and tell them
- If it keeps giving you trouble, try shopping with an incognito window – I find they work better for some reason
About Cash Back Credit Cards For Dropshipping
Great! Now you've getting up to 5% cash back just by clicking on “Shop Now” on Giving Assistant! But let's level up here! You can get up to an additional 2% back on all your orders by using cash back credit cards.
Disclaimer: I am not a financial advisor. Before taking on debt or opening a new line of credit, you should speak with an expert.
If you do decide that a credit card is right for you, I want to show you the ones I use. The first is the Capital One Spark credit card. There are two versions. The first gives you 2% back in cash on all your purchases. The second gives you 2% back in points that you can use for travel. If you travel a lot, the second one might be the better choice for you!
If you're still trying to build credit, then you might want to try the Wells Fargo Business Secured Credit Card. It gives you 1.5% back on all your purchases. A secured credit card is pretty unique. Basically what you do is you give your bank $5,000. They then hold the $5k in a separate account and give you a credit card with a $5k limit.
You use the card and then pay it off as normal. If you default on a payment, then the bank pays off the card with the $5k in the separate account. But as long as you pay off the card, no one touches the $5k. Once the card is closed or you upgrade to a normal card, the $5k is returned to you!
How to Stack Cash Back
So the big question: can you stack cash back. Meaning, can you use 2-3 cash back websites + a cash back credit card on one purchase.
The answer is: sorta. To see exactly how I do it, watch the secret ending to this video (at 3:30). Then leave a comment that says “I see what you did there”. One person who leaves that comment will be chosen to win a free Walmart gift card!