I was intrigued. After all, if I'm going to be spending money at certain retailers anyway, it's always nice to get some back, even if it is a mere 2%. So I signed up, and played around with it for a while.
- I think this is a good system, and it's nice to get something back in exchange for letting your purchases be tracked.
- It's really nice to have small payments made to your student loans that you don't even have to think about.
- Something for nothing! Who doesn't want that!?
- They also have the new option of taking online surveys to earn cash toward your loans.
- They have a debit card option that nets you more cash back since you get cash back for everything you purchase and aren't limited to their pool of online retailers.
- Unlike Ebates, which posts your cash back within 24 hours, Smarterbucks takes FOREVER. It takes literally a month before anything posts to your account.
- They are very aggressive about getting you to sign up for their debit card, which I don't want to do though that seems like the best way to get more free money paid to your loans. Has anyone done this? Care to comment?
- Ebates tells you when your next payment is coming, and I couldn't find that info on the Smarterbucks site at all, so I guess it will just be a surprise.
- I didn't find a lot of retailers I wanted to buy from, so I just placed a few test orders with Old Navy, which was only 2% cash back.
- Naturally, getting cash back for spending might make you buy more, so it's a bit of a Catch-22, but when you're spending money you would have anyway, I see no harm in it.
- I tried to take about 20 of their surveys to earn extra cash, but I got kicked out of each one for not meeting the criteria and earned nothing.
Overall, there's no reason why I would discontinue doing this, since it really only works in my benefit. I'm never going to buy enough stuff that it will have a significant impact on my total student loan debt, but every little bit helps. It's not a perfect system, but it is new, and they seem to be improving it pretty quickly.
Anyone else have any experience with Smarterbucks?
*This is not a paid post and Smarterbucks has no clue who I am, I just wanted to let people know it exists.