eBates Credit Card Review (3% Cashback On Purchases Through eBates)

Update 12/19/18: Not sure when this was added but this card now earns 3% back on travel and also 3% back on eBates in store cash back offers. Hat tip to @NotESW

eBates (a cash back portal similar to topcashback) launched a credit card, at first I didn’t think much about it but a recent post on Maximizing Money made me think that made this new card was worth a further look. Here are the key details of the card:

  • 3% cash back on all purchases made through the eBates portal. This is in addition to whatever cashback eBates is offering (e.g eBates is currently offering 1% cashback on American Express gift card purchases. If you used the eBates credit card you’d earn 4%)
  • 3% cash back made through eBates In-store cash back offers
  • 3% cash back on travel purchases
  • 1% cash back on all other purchases
  • $10 sign up bonus
  • No annual fee

ebates

As there are multiple cards that earn at a base rate of 2% cash back, it really only makes sense to use this card when shopping through eBates. To work out if getting this card makes sense, I’d recommend using the following formula

If Y * 0.01 >= X, apply otherwise don’t. X = the minimum sign up bonus you’d usually accept for a credit card (look at what cards are currently offering as a cash bonus as a guide) and Y = the amount you’d spend at eBates in a year. The idea is that you receive more in cashback from this card in a year then you’d earn from a regular sign up bonus.

When it comes to category spending bonuses, I never look more than one year in advance because the credit card game is constantly changing. To make things easier if your minimum sign up bonus is:

  • $100 you’d need to spend $10,000 per year through eBates
  • $150, spend $15,000
  • $200, spend $20,000 and so on

Final Thoughts

This card really makes sense for those who spend a high amount at eBates. Unfortunately sites like Topcashback usually offer a high cashback rate which negates the 1% in extra cash back you’re getting from this card when compared to a 2% cashback card.

For example, let’s say your plan is to purchase American Express gift cards. eBates offers a rate of 1% currently and Topcashback offers 1.5%, this means that eBates is really only offering 2.5% cashback on eBates purchases rather than the full 3%. Considering other cards such as the Arrival offer 2.22% cash back (when redeemed for travel expenses) you’re only getting an additional ~0.3%. You’d need to spend $30,000+ to make up for a $100 cash sign up bonus.

Personally I think this card is a waste of time, if eBates rates were more competitive then I’d disagree. The other problem is that eBates will most likely exclude AmEx gift card purchases if they see people start to use this card for those purchases in a large way.

 

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Matt
Matt (@guest_726963)
February 25, 2019 14:50

Any reports on people earning 3x membership rewards on this card now with the new ebates/Amex relationship?

Were people earning 3% cashback with this card for gc purchases? I see some older comments of people having issues.

This could be pretty sweet if people could earn 4x on gc purchases!

Trish
Trish (@guest_696928)
December 27, 2018 18:20

They are a predatory lender when it comes to their credit cards. At the drop of a dime they will lower your credit limit to about $12 above what you owe and blame it on your credit score even if you’re in the 700-800 range which will tank your score in the end game. Don’t trust them.

LDoc
LDoc (@guest_694282)
December 20, 2018 16:32

I routinely get email and physical mail with a 50 dollar sign-up bonus for this card.

Aron
Aron (@guest_694110)
December 20, 2018 11:49

Will this work for 3% cash back in stores that ebates have but categories excluded from ebates?

Sam
Sam (@guest_694095)
December 20, 2018 11:21

The problem is that Topcashback takes forever to deposit even though it usually offer a high cashback. Ebates I always get $ back fast and easy.

J2
J2 (@guest_695049)
December 21, 2018 20:24

You must have a different definition of fast than I do. My last purchase to reach the threshold was Oct. 25 and my Big Fat Check isn’t being sent until Feb 15th.

Nickod777
Nickod777 (@guest_694089)
December 20, 2018 11:15

I had one problem with this card. They gave me a temp card number to use, and eventually I was mailed the regular number. I had to make a synchrony account for each. I tried closing the temp card, not knowing that it would close the permanent card. I tried talking to support, and a few supervisors. None of them were willing to help me. They did not put me in the negative for closing my account early since I had the bonus. So obviously not all terms are 100% enforced

Andrew Nelson
Andrew Nelson (@guest_694069)
December 20, 2018 10:46

I do alot of shopping through ebates since they track alot better for me, so I picked up this card when they offered me $100 with my first purchase. The in-store cashback works great since I shop alot at office depot since it’s near me.

Eric
Eric (@guest_694068)
December 20, 2018 10:46

Since late September/early October 2018 🙂

Yosk
Yosk (@guest_694052)
December 20, 2018 10:09

Perhaps I’m misunderstanding the math, but shouldn’t the formula to decide whether to apply for this card be 0.03*Y > X for purchases through Ebates? If you’re just counting general purchases, then I agree with using 0.01.

Harold
Harold (@guest_694079)
December 20, 2018 10:59

That’s because you can have a 2% cash back card on every purchase.

Marie
Marie (@guest_627786)
August 7, 2018 17:11

TopCashBack offer high pay outs but its not likely that they will pay you often or on time. BeFrugal,Ebates&Lemoney are good well known solid cash back companies.