Posted by Chuck on August 14, 2019
Deals

Published on August 14th, 2019 | by Chuck

78

[Uber/Lyft Added] Bumped App: Earn Stock Rewards On Retail Purchases With Linked Card

Update 8/14/19: Uber and Lyft added. Hat tip reader BF

Update 8/13/19: Kroger & Albertsons added and offering 0.5%. Hat tip to GC Galore

Bumped Rewards App

Direct Link to Bumped

The Bumped app is another one of many card link programs where users earn rewards when shopping at many various retailers by linking your accounts and cards. The twist with Bumped is that you earn stock instead of cash back. As an example, when you shop at Walmart, you’ll earn 1% back in Walmart stock.

You can only pick one store within a category to get rewards in. You can only change your choice of merchant with-in a category ONCE PER MONTH, and only a few times per year. So choose wisely! You can use these saved offers both online and in-store.

Available Retailers

Below are all available retailers, separated by category. Again, you only get one store per category. Bear in mind, the rates listed below are meant as a sample only; rates can always change, plus, some readers are seeing different rates.

  • Burgers
    • 3% Jack in the Box
    • 3% McDonald’s
    • 3% Wendy’s
  • Club Warehouse
    • 3% Sam’s Club
  • Coffee
    • 3% Starbucks
  • Drug Stores
    • 1% Walgreens
    • 1% CVS
  • Family Dining
    • 2% Applebee’s
    • 2% Chili’s
    • 2% Olive Garden
    • 2% Red Robin
  • Grocery
    • 1% Kroger (entire family of Kroger stores seems to work for this)
  • Home Improvement
    • 1% Lowe’s
    • 1% Home Depot
  • Mexican Food
    • 2% Chipotle
    • 2% Taco Bell
  • Music Subscriptions
    • 1% Sirius XM
    • 1% Spotify
  • Pizza
    • 5% Domino’s
    • 1% Papa John’s
    • 2% Pizza Hut
  • Superstores
    • 1% Target
    • 1% Walmart
  • Telecommunications
    • .5% AT&T
    • .5% T-Mobile
    • .5% Verizon
  • Video Subscriptions
    • 1% Netflix
    • 5% Sling TV
  • Vineyards
    • 1% Willamette Valley Vineyards

Signup Process

To signup for the Bumped app, you’ll first input your email address to join a ‘waitlist’, and eventually you’ll get an email allowing you to join.

There is no sort of signup bonus or referral offer to sign up for Bumped.

Privacy and Security

In order to use Bumped, you’ll have to both link a card account AND open a brokerage account. Linking an account will require giving your login credentials of the bank (not just entering a card number). Bumped uses Plaid for this process. Bumped will have access to your transactions.

You’ll also have to open a brokerage account with Bumped since rewards are earned as fractional stocks shares in the given companies. This will require inputting your personal information like Social Security Number.

Stack with Other Apps

Many of our readers use multiple cash back apps, and even try stacking the deal by earning rewards from various apps with a single purchase. It’s an art to know which rewards programs stack and which don’t, and we take a stab at clarifying those details in our post Complete List of Card-Linked Reward Programs.

So, does Bumped stack ____? Readers indicate that Bumped stacks with all other programs.

FAQ

Here’s an FAQ, adapted from reader Ben’s excellent summary:

  • Q: Can you link VGC or MCGC?
    A: Nope, just your bank credit and debit cards (transactions must be run as credit).
  • Q: Can you buy gift cards?
    A: The term exclude it, occasionally they’ll enforce the ‘no gift cards’ rule for large purchases.
  • Q: What are the limits?
    A: $200/Merchant/Year ($20,000 at a 1% store like Target/Walmart/CVS/Walgreens). Note, that because there isn’t a weekly limit this works out better if you do a larger purchase like buying a TV.
  • Q: Does this work for monthly subscriptions for Telecommunications or just 1-time purchases?
    A: It works for everything! Great way to get a completely passive 0.5% back on your phone bill.
  • Q: What are the downsides?
    A: Unfortunately, because you have to open a brokerage account to use Bumped, you’ll have to pay taxes on your earnings. I haven’t cashed out yet so I do NOT have any further experience or knowledge in this (please ask your tax professional).

Our Verdict

Lots of readers have been telling us about Bumped as another valuable card-link program with many top retailers in the Bumped system, and I’ve been meaning to do a write-up on this for quite some time. I’m not entirely sure what they gain by giving us stock instead of cashback, maybe they think people won’t withdraw the funds as fast and they keep the float. Let us know in the comments below if you find Bumped worthwhile.



78
Leave a Reply

avatar
 

  Subscribe  
newest oldest most voted
Notify of
sunny
sunny

I wonder what happens to the brokerage account if (when, most likely) when this “pivots” like Spent did. There is so much competition in this space that no one will last long.

WTG
WTG

The brokerage account is held by APEX so I assume you could simply transfer it to another brokerage account you own. Bumped doesnt hold the securities so there is no risk of losing what you earned.

Justin
Justin

That is sorta correct. In the support center it says you are able to transfer your shares out. However, you can’t ever transfer partial shares between brokerages. So unless you had lots of stocks in here, you likely would need to liquidate them to cash either way.

You should be able to view support pages without signing up, if anyone wants more details around this type of thing: https://support.bumped.com/hc/en-us

GB
GB

I’ve been a Bumped user since November 2018. Great experience so far and have accumulated about $91 in stock. Only disappointment is they got rid of Airline Loyalty options early on.

Here are all the merchant options in their categories.
Burgers (McDonald’s, Wendy’s, Jack in the Box: all 3%)
Warehouse (Sam’s Club: 3%)
Coffee (Starbucks 3%)
Drugstores (CVS, Walgreens: 1%)
Family Dining (Applebee’s, Chili’s, Olive Garden, Red Robin: all 2%)
Grocery (Kroger Family: 1%)
Home Improvement (Lowe’s, Home Depot: 1%)
Mexican Food (Taco Bell, Chipotle: 2%)
Music (Spotify, Sirius: 1%)
Pizza (Domino’s: 5%, Pizza Hut: 2%, Papa John’s: 1%)
Superstores (Target, Walmart: 1%)
Telecommunications (T-Mobile, AT&T, Verizon: 0.5%)
Video (Neflix: 1%, Sling: 5%)

Justin
Justin

Man, I could really use some of these other options (CVS, Pizza). My burgers and tacos are combined. Consider yourself lucky!

Ismael
Ismael

I love bumped. When I purchase fuel at Sam’s club, I get 1% back in form of VTI

brando596
brando596

Current Loyalty Categories:
(Select one from each category. Can change after 30 days; up to 3 times per year)
(Rewarded in either the company stock or VTI)
Club Warehouse (1%): Sam’s Club
Coffee (2%): Caribou Coffee, Dunkin’, Peet’s Coffee, Starbucks
Conveience Stores/Gas (0.5%): BP, Chevron, ExxonMobil, Shell
Entertainment (2%): AMC, Cinemark, Fandango, Netflix, Spotify
Family Dining (2%): Chilli’s, Olive Garden, Outback Steakhouse, Red Robin
Personal Care (1%): Dollar Shave Club, Keihl’s, Sephora, ULTA
Quick Eats (3%): Burger King, Chiptole Mexican Grill, Jamba Juice, McDonald’s, Subway
Ride Sharing (1%): Uber, Lyft
Vineyards (1%): Willamette Valley Vineyards

Bumped uses Plaid to link your bank.

WTG
WTG

I wish I could get some of those…odd that they are picking and choosing for us and not allowing the full range of options for everyone..assuming they get some sort of kickback as well on our purchases they are missing out too.

Briana
Briana

This is exactly what I see. I wonder how they’ve decided who gets what.

Tim
Tim

How does this work for taxes? When you sell the stock, does each little $0.02 worth of stock you earn have it’s own basis? That schedule D is gonna be insane.

Ann
Ann

I’d expect the basis to be $0 for all the shares, since you received them for free (edit: maybe not correct, someone else says further down in the comments that they think it is the value at the time you receive it that counts as your basis). Then you can just add up the total for each company’s stock on your Schedule D (edit: I don’t know if this still works the same if all your fractions of the same company have a different basis from each other). I think I’d rather just report $0 basis and pay a little bit more tax than have to have a massive list of separate transactions like you said, if that is how it works.

Celia
Celia

I agree. Further, it’s required of the company to report the basis on the consolidated 1099. I would think that you can choose one stock to just keep buying and accumulating.

Ben W
Ben W

***NOTE: CLICK READ MORE AT THE BOTTOM TO GET THE PROPER SPACING*** I love Bumped and I have found that it DOES stack with everything else. Bumped works as a loyalty app where you can only pick one store within a category to get rewards in, which I presume they’re banking on you shopping at more often. I’ll lay out a list of everything in the app below (I don’t think it varies by region). You can only change your choice of merchant with-in a category ONCE PER MONTH, and THREE TIMES PER YEAR (or something very limited like this). So choose wisely! I like this better than Drop’s method of picking which locks you in forever. Bumped works both online and in-store (using the same offers) which to me is the holy-grail of cash-back apps. FAQ: 1. Q: Can you link VGC or MCGC? A: Nope, just your bank credit and debit cards (transactions must be run as credit). The “back-end” is Plaid. 2. Q: Can you buy gift cards? A: Yes(ish): It is explicitly excluded, but they do not get L3 data. HOWEVER, I was emailed asking for proof of non-giftcard purchase on a $505.95 from Walgreens. I do not suggest going full-throttle with this app. On a side note, I simply ignored the email from them, didn’t get the rewards for the Walgreens purchase, and my account was left alone after that. 3. Q: What are the limits? A: $200/Merchant/Year ($20,000 at a 1% store like Target/Walmart/CVS/Walgreens). Note, that because there isn’t a weekly limit this works out better if you do a larger purchase like buying a TV. 4. Q: Does this work for monthly subscriptions for Telecommunications or just 1-time purchases A: It works for everything! Great way to get a completely passive 0.5% back on your phone bill. 5. Q: What are the downsides? A: Unfortunately because you have to open a brokerage account to use Bumped, you’ll have to pay taxes on your earnings. I haven’t cashed out yet so I do NOT have any further experience or knowledge in this (please ask your tax professional). Categories: 1. Burgers +3% Jack in the Box +3% McDonald’s +3% Wendy’s 2. Club Warehouse +3% Sam’s Club 3. Drug Stores +1% Walgreens +1% CVS 4. Family Dining +2% Applebee’s +2% Chili’s +2% Olive Garden +2% Red Robin 5. Grocery +1% Kroger (I had QVC work for… Read more »

F
F

This is helpful, thanks!

Johnk
Johnk

Interesting. I don’t have a “Superstores” category, but I have “Convenience Stores / Gas” & “Coffee” and my percentages are pretty different for some.

Great app so far. I was given two $10 “Welcome” bonuses, but I referred someone so maybe that’s why?

WTG
WTG

What are the convenience stores you are offered? I figured everyone got the same options but I only get super center options too.

Tim
Tim

0.5% at BP, Chevron, ExxonMobil, or Shell for me.

A.p.
A.p.

What is the wait to get signed up? This sounds interesting but to me I don’t see this lasting very long.

Ry5
Ry5

Bumped is great. I think it stacks with everything else– I have $34.87 in my account now.

Used to get $1.87 back each time I paid my T-Mobile bill (0.5% back).

AP
AP

You have a $374 monthly bill?

Ben W
Ben W

T-Mo used to be 3% I think. Putting him at $62/mo.

Tim
Tim

Think there’s any kind of Chex inquiry for the brokerage? Love me some free money, but I don’t know if opening a new financial account is worth the couple bucks I’d probably earn from them before they go bankrupt.

WTG
WTG

No chex, just a simple sign up

Ryan Goldstein

As a data point, I signed up for the waiting list on June 24 (2 weeks ago), and I’m still on the waiting list.

Karsinogen
Karsinogen

I think I signed up back around April and here I sit, still languishing on the waiting list.

Jason
Jason

I joined the list earlier today and they mailed a “referral” link
>>
In the meantime…
You’ll get bumped up in line (get it?) when friends, family, and/or kind internet strangers sign up for the waitlist using your unique referral link.
>>
Anybody use that? May we share those here?

Tim
Tim

They should change that to “when friends, family, kind internet strangers, and/or dozens of self-generated throwaway email accounts sign up for the waitlist using your unique referral link.”

They don’t even appear to attempt to validate the email account owners… I could just signup asdfadfasdfasdf@mail.com….

AP
AP

Karsinogen Same, I’ve been waiting since April as well. The difference is that I’m not languishing; just waiting.

Jim O
Jim O

I have had a good experience with Bumped.
They didn’t like the manufactured spending though and will email asking for receipt on large purchases.
Tax wise, your cost basis for fractional shares is the price of the stock when it is awarded to you. So you don’t pay taxes on the award, just on any realized gains from price changes. (not a tax expert)

WTG
WTG

I have had every purchase I make with my Chime card double the award for Kroger stock (I shop at Harris Teeter) for whatever reason so I always get 2% back there…only on the Chime card though. I need to try some other categories with it to see if its the same for other places.

Ben W
Ben W

Interesting! Definitely let us know if it works elsewhere.

LAG
LAG

That is interesting for a specific card… I’ve noticed this to be the case on Bumped AND other apps with regard to Authorized users; basically the transaction is recognized on both logins (seems to be the case on apps that require you to login to add cards… can’t remember the name of that method right now, but maybe it’s the same for chime too).

Brian
Brian

I’ve been on the waiting list for months. Anybody know how long it usually takes to sign up and if there is anyway to expedite?

David
David

I joined in May. So far, Bumped is stacking with Pei and Drop. But unlike GB, I’m not getting the option to select a superstore or drugstore. And I have a general “Quick Eats” category that include burger joints and Mexican restaurants, so I can only select a single restaurant there. And no Telecommunications category either. I’m hoping the app will allow me to select more “Loyalties” soon, but for now, I’m basically getting a 2% rebate on my Spotify subscription.

Ben W
Ben W

I wonder if some of us are grandfathered into better loyalty options or if it is indeed regional.

WTG
WTG

Just another observation, I get credited with the stock reward regardless of whether I use my bank debit as debit or credit. Does not matter as they only track the purchase and not the method. On a popular sidenote, I always get the max cashback at the grocery store and earn the reward on the total amount so it definitely adds up anywhere cashback is offered.

Back to Top ↑