How does Mr Rebates Work? Is it Legit? - Financial Analyst Insider
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How does Mr Rebates Work? Is it Legit?

Shopping online is a great way to save extra money. Online prices are typically less expensive than in store prices. But you might now be familiar with a simple way to save even more money when shopping online: using cash back sites like Mr. Rebates.

This article will explain the benefits of using cash back web sites and explain how you can save an additional 4% to 10% each time you shop online. It also includes a full review of the Mr Rebates cash back web site and compares it with other popular options.

  • Sign up for Mr Rebates and receive a $5 bonus on your first online shopping purchase.

What Is Mr. Rebates?

With the number of Americans shopping online, rebates offered by sites like Mr. Rebates could mean keeping a fair amount of money in our pockets.

Recent statistics show that up to 96% of Americans do at least some of their shopping online. Revenue from online shopping is expected to exceed $4.9 trillion by 2021.

And why shouldn’t people love online shopping? It’s convenient, time-saving, and you can find anything you want with a few keystrokes. Plus, sites like Mr. Rebates provide an easy way save extra money.

Mr. Rebates operates similar to many other cash back shopping sites like Ebates, which has recently been renamed Rakuten.

Mr Rebates has relationships with a wide range of online merchants including: Amazon, Walmart, Target, Best Buy, and 3,000 other options.

Earning Extra Cash Back for Shopping

Instead of going to directly to the store you plan to make an online purchase, instead check Mr Rebates web site or mobile app and look up your store. Each online retailer in Mr Rebates shopping database will list a cash back percentage.

The cash back percentages change daily, so make sure you double check before shopping.

If you’ve clicked on that store link through Mr. Rebates, you’ll be given a rebate for the eligible items you buy from that site. Keep in mind, you won’t see the cash back percentage in your purchase order or online receipt from the online merchant.

However, you will be notified via email from Mr Rebates and you can see the purchase in your online account with Mr Rebates. There is typically a 24 hour period after you make an online purchase before it will post under your Mr Rebates account.

The reason for the time lag is because Mr Rebates does not post the transaction in your account until it receives a notification from the online retailer about the transaction.

How Does Mr. Rebates Make Money?

Mr Rebates has relationships with over 3,000 online merchants. When Mr Rebates sends traffic to those merchants, the merchants will pay Mr. Rebates a percentage commission of the total purchase price.

Rather than keep the total commission, Mr Rebates instead splits a portion of the commission with you. This provides online shoppers with an incentive to use a cash back site like Mr Rebates rather than purchase directly with the online merchant.

A Simple Example

The easiest way to understand how Mr Rebates makes money is with an example. Let’s assume you plan to make $100 of online purchases from Target today.

Instead of going directly to Target.com, you start with the the Mr Rebates website and look up the daily cash back rate for Target.

  • Target is currently offering 3% cash back on Mr Rebates.
  • You make $100 of purchases with Target after clicking through Mr Rebates web site or app.

Mr Rebates will receive a commission from Target for your $100 purchase. Let’s assume the total commission is 6% (6% is only an estimate).

Keep in mind, the only reason Target is willing to provide a commission to Mr Rebates is because of the high volume of traffic Mr Rebates can send to Target.

Target will wait for the return period to expire, typically 30 to 45 days after the purchase. Target will then send Mr Rebates a $6 commission from the sale.

Instead of keeping the full $6, Mr Rebates will keep $3 and will give you $3. As a consumer this is a great deal because you don’t have the ability to earn a commission when you shop with Target.

So you get to earn money that you otherwise would not be able to earn on your own.

How to Use the Site for Cash-Back and Coupons

To earn a cash back rebate, go to the Mr Rebates web site or mobile app and click on the store link. The link will take you directly to the online merchant. Shop as normal without closing your browser until the transaction is done.

  • Warning: after clicking on a Mr Rebates link, do not leave the online merchant’s web site. It is always a good idea to wait to use a Mr Rebates link until you are read to make a purchase.
  • The tracking period for Mr Rebates only lasts for 2 hours. If you go to a different website before completing a purchase, that can sometimes cause the transaction not to be tracked properly.

Mr. Rebates also adds coupons you can redeem for certain sites. To use these, you’ll add in a code at checkout. One recent offer, for example, provided shoppers with an extra 40% off of clearance merchandise at the Gap Factory if they typed in a code.

Referral & Sign up Bonus with Mr Rebates

Mr Rebates is currently offering a limited time incentive sign up bonus for new users to test out Mr Rebates cash back options. Each new user will receive a $5 bonus after completing their first online purchase.

After making an online purchase, the new user will receive a $5 bonus and the cash back credited from the original online purchase.

Mr Rebates Mobile App

If you like to shop while on the go instead of at your home computer, you can install the Mr. Rebates mobile app on your phone.

The mobile app gives you the opportunity to get rebates from more than 2,500 stores. This app works on both iOS and Android devices. You’ll get cash-back shopping, be able to manage your account, and have access to online coupons through the app.

Tip: If you try to buy something on the mobile app but don’t see the store you want to shop at listed, check it on your home computer later before you order.

Not all of the stores that are listed with the Mr. Rebates website will be on the mobile app. It’s best to double-check before placing your order, so you don’t miss out on a rebate.

Mr Rebates Browser Extension & Quick Cash Button

If you’re worried about forgetting to check Mr Rebates before completing an online purchase, there is a simple solution.

You can download a Mr Rebates browser extension. This extension will remind you to activate your rebate when it sees you shopping on a site that would qualify for cash back through Mr. Rebates.

The extension adds a green button on the top of your browser with the cash back percentage for that store. All you need to do is click the green button and shop as normal. The cash back will automatically be paid into your account.

How Do I Get Paid?

To request a payment, you must have at least $10 in available rebates. You can request that your payment come through PayPal, a gift card, or a check that will be mailed to you.

Using a cash back site like Mr Rebates is an easy way to earn extra Paypal money.

How Long does it Take to be Paid?

Let’s go through a simple example to give you an idea of the payment timeline:

Pending Rebates

  • You complete a $100 purchase for Target with a 3% cash back rate.
  • Within 1 to 3 days, you will see the Target transaction in your Mr Rebates account as a Pending Rebate.
  • The Target purchase can remain as a Pending Rebate in your account for up to 90 days. This is because Target will not send payment to Mr Rebates until the return period has ended on your purchase.

Available Rebates

  • Within 90 days, the Target transaction will change from a Pending Rebate to an Available Rebate in your Mr Rebates Account.
  • Available Rebates can be cashed out via Paypal or a mailed check as long as your balance is at least $10.

How long it takes for you to get your payment depends upon when you placed your request.

Mr. Rebates sends payments on the first business day of each month. It doesn’t matter if you placed your request for payment on July 2 or July 22, your payment request won’t be processed until the first business day in August in that case.

Mr. Rebates vs Rakuten (formerly known as Ebates)

These two sites are similar – they are both easy to use and will put money back in your pocket.  But there are a couple of differences between them.

You won’t have any control over when you get your money with Rakuten. It sends payments out quarterly, instead of on demand, once a month, as Mr. Rebates does.

Some stores will pay more at certain times with Mr. Rebates than they will with Rakuten, and other times, they’ll have better offers on Rakuten than on Mr. Rebates.

While this article was being written, for example, Mr. Rebates was offering 5 percent cash back on Ace Hardware purchases, while Rakuten was only offering 2.5 percent. Those percentages can change daily, so you need to check each site before deciding which option to use.

So which site should you go with to maximize your earnings? Your best bet is to sign up for them both. Then before you make a purchase, compare the cash back offered through each site. Click on the one that gives you the best offer.

Other Mr. Rebates Alternatives

There are many additional cash back sites available, some other popular options include Top Cash Back and BeFrugal.

Top Cash Back is an aggressive cash back web site and frequently features some of the highest percentage payouts available. The site works the same way as Mr Rebates and has a similar list of available merchants.

BeFrugal has one important difference when cashing out – you can only receive a check if you withdraw at least $25. But you can opt for direct deposit instead of a check or payment through Paypal.

When you use direct deposit with BeFrugal, you are not limited by a minimum payout amount.

Mr.  Rebates Shopping Tips

If you’re going to sign up, use our best tips to save more money:

  • Install the browser extension: This will help you to remember to activate your savings each time you shop.
  • Let your friends know: You’ll get a referral bonus for every friend you get to sign up for Mr. Rebates. There is no limit.
  • Check out their store of the week: This pick will change each week, but it’s usually a big increase over what the typical savings from that store is.

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