One thing I try and teach at all my classes is that whenever you reach a threshold in a rewards program where you are eligible to cash out- You need to do so.
Letting points or rebates accumulate for a long time in a rewards program (especially a new one) can be dangerous.
A perfect example is Plink. They abruptly shut their doors a few years ago. All points that have been earned have disappeared. POOF. Gone. Those rewards you were saving up for? Gone.
I use a lot of rewards & rebate programs: Ibotta , Checkout51, Shopkick . SavingStar , Shopmium , Recyclebank – those are just a few of them. Every time I hit a threshold to cash out (and each program differs) I do it immediently. This avoids the frustration and anger if one of them would shut their doors- keeping the rewards (or cash) I earned!
As soon as you hit that threshold- cash out. If you plan to save that money (or rewards) for Christmas or another event- cash it out into gift cards and put them aside but don’t let the program hold your rewards hostage. It’s very dangerous because honestly we never know what is going on behind the scenes of these companies and programs or when we may find the “Closed” sign on their website (or app).
Just a savvy saver tip!
Leave a Reply