There is a strong community of couponers and bargain-hunters in the Baton Rouge area, with couponing classes, websites, and Facebook groups designed to help savvy shoppers save money. Many are aware of online coupon codes and use them whenever possible. But there are some who go a step further, using cash back shopping sites that link to the same major retailers you'll find at Cortana Mall, Mall of Louisiana, Perkins-Rowe, and Towne Center...and then some. These cash back sites provide coupon codes for you, that can be combined with sale pricing, free shipping offers, and cash back. But knowing which cash back sites have the highest rates can mean earning over 4 times more -- so it pays to compare rewards.
Why shop online at all? You know why if, like me, you've experienced Black Friday standing outside in the cold at a line that wrapped around the side of ToysRUs (which recently moved next to Kohl's off Siegen Lane, just so you don't end up in an empty parking lot on Airline at Florida on Black Friday). You'll go out in the cold only to arrive at a crowded mall where the items you want may not be in stock, and if you do find them, you'll end up standing in line waiting to check out. Trudging through a hectic mall with armfuls of heavy shopping bags, trying to remember where you parked your car, you may stop at the food court for an overpriced snack and a drink. Finally, heading home, you face holiday traffic, burning more gas, costing even more money.
Face it, in-store shopping is a hassle and an expense.
Shopping online in the comfort of your own home allows you to shop in comfort on your own schedule at the same retailers and many, many others. Price comparison tools like PriceGrabber and Google Product Search help you find the lowest price on a particular product, and coupon codes can provide additional savings not available in stores. Free shipping offers abound and a growing number of retailers like Office Depot, Sears, Lowes, and Best Buy offer free in-store pickup at your convenience. And the truly budget-conscious go the additional step and use a cash back site to receive up to 30% of their purchase price back in cash (or in some cases, in the form of a gift card).
Cash back sites, also called rewards programs, such as Ebates, MrRebates, and ShopAtHome have been around the internet for over ten years. They function as a directory of online stores, much like a mall directory.. They provide store descriptions and, a valueable time-saver, a listing of coupon codes. By clicking through the cashback site’s link to your desired store -- rather than typing the store's URL into your browser -- the shopper generates a commission for the cash back site, which it shares with the shopper in the form of cash back.
But all cash back sites are not created equal: a comprehensive cashback rate analysis performed by CompareRewards.com found that a shopper may be able to earn four times more cash back if they know which cashback sites are more generous with their rewards.
This November 2011 analysis surveyed the cash back rates of over 300 popular retailers at 12 popular cash back programs and found that the highest everyday cashback rates were available at Extrabux.com, ShopAtHome.com, and MrRebates.com. The lowest rates, by far, were offered by veteran rewards program MyPoints.
Extrabux had the highest cash back rate available out of the 12 programs surveyed, for 52% of their stores surveyed. They had the second highest cash back rate for another 22% of the stores. Shoppers may also find their unique price comparison tool invaluable in finding holiday deals: it helps find the lowest price for a product while factoring in available coupons and cash back rewards.
ShopAtHome, with rates that often tied Extrabux, came in second with the highest cash back rewards available for 41% of their stores surveyed. In addition, they paid the second highest cash back rate for 29% of the stores. They are currently running a cash back promotion which raises their rates even higher.
MrRebates was a very close third in the ratings, offering the highest or second highest everyday cash back rates available for 66% of their merchants. They have already started a holiday cash back promotion raising rates further on 400 merchants, and they will also be giving away daily $100 prizes to lucky members starting Black Friday.
The cashback loser in the analysis, MyPoints, offered the lowest cashback rates of any of the 12 programs reviewed for 2/3 of their stores. It remains a perennial favorite of many, however, for the free gift cards members can earn by reading emails, answering polls and surveys, and signing up for offers.
The full report including details of each program's regular cash back rates by store, is available on CompareRewards.com.
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