Posted by William Charles on May 30, 2019
Misc

Published on May 30th, 2019 | by William Charles

57

Spent Cashback App Negative Changes (3 Merchants Max Per Month, $15 Per Month Max In Earnings)

Update 5/30/19: You can now select merchants for June, looks like most of the better merchants have now been removed.

Update 4/22/19: You can now select your merchants for May. Hat tip to reader Ben W

Card linked cashback app Spent has sent out an e-mail to existing customers informing them of some changes. Users will now have to manually choose three merchants each month to earn cashback on. Earnings are also capped at $15 per month.

Hat tip to readers Information Booth, Fish & Naveen P



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Beefer
Beefer

Wow, just when I thought spent couldn’t get any worse.

Evan
Evan

lol same

oogaboogabooga
oogaboogabooga

spent

Chucks
Chucks

Not surprising, but a shame.

Passive “set it and forget it” apps and offers are almost always unprofitable and unsustainable long-term.

“We will unveil 12 merchants every month”= “we’ll advertise to you every month, you’ll only profit if you pay attention and remember to pick, and heck, you’ll probably shift your spending habits just a bit in a way that really means you don’t come out ahead”.

JBTx
JBTx

I noticed a series of negative changes over the past 3 months that caused me to DELETE the app entirely about 6 weeks ago. One of my concerns was about exactly how they were going to use my Data (I did a deep dive into their Terms of Use and really did not like what I saw). Sure I gave up a few $$ here and there but have not missed it at all. This just confirms one of 2 things – either they don’t care about their customer at all OR they need to conserve cash. All my speculation of course.

Beefer
Beefer

Dude the whole premise of the app is that they sell your financial data and give you a cut. How do you think they make money?

You know who also does that? The bank that issues your cards and the card issuers themselves. If you’re not comfortable with data brokers selling your data, switch to cash.

M the K
M the K

Yeah, I decided to delete my profile since they are no longer useful to me.

swg
swg

The next step in a steady death spiral. So I basically have to eat $2000 in McDonald’s to get enough to cash out, assuming I remember to jump through their hoops each month.

Andrew D
Andrew D

And on top of it all the ice cream machine will be broken

doc
doc

You must be going to the Micky D’s on the wrong side of the railroad tracks.

There’s always a better location, with better management, and fresher food. You’ll know you’ve found the right location if their fries are always fresh, and their breakfast is always hot.

Emporio
Emporio

On the plus side if you make a Supersize Me inspired documentary of your $2,000 in McDonald’s consumption, you might be able to earn a little extra above and beyond your $15 in Spent cashback.

David
David

Is Dosh only “set it and forget it” app left?

Ben W
Ben W

You can check out Bumped, Drop, and Pei.

Daniel329
Daniel329

Can all three be used concurrently?

Ben W
Ben W

Yup, they all work on different back ends. You can also check out: https://www.doctorofcredit.com/complete-list-card-linked-store-reward-programs/

Colin
Colin

Thanks for the tip. I have never heard of them. Do you recommend them? If so any referral links I can use that might might benefit both of us? I have mogul, dosh, and drop, but not the ones you mentioned.

Ben W
Ben W

You’re absolutely welcome for the tip!

-Bumped doesn’t have sign up bonuses
-Drop: g2egg
-Pei: vqosc8

slut
slut

Bumped and Drop both use plaid, when I started getting rewards on Bumped I stopped on Drop

Ben W
Ben W

That’s really interesting, and has not been my experience at all as I routinely get cash back from Bumped, Drop, and Pei all on the same purchase. I am under the impression that Plaid is simply a method of connecting a service provider to your banking information and doesn’t necessarily share that information with other providers, (Like Empyr would).

slut
slut

I’ve even added and removed the cards on Drop and I’m still not seeing credits. Pei and Bumped are coming through though

RV
RV

Drop has NEVER tracked for me. Bumped is new.

David7914
David7914

I knew it’s coming last year, so I spent enough at CFA to push my balance over $20, then waited 5 weeks to cash out and then deleted the app . Not missing much.

Blue
Blue

Their death spiral intensifies.

Dan
Dan

remember to unlink all your current cards from spent, otherwise they are just making money off you for nothing in return. might incentivize them to bring back better deals

aubergine
aubergine

in addition they could screw up other cash back services, if the cards are left linked.

Oliver
Oliver

I just deleted my app. Was already on the fence about retaining it, then this. In my mind, their ability to view 1000s of my transactions in exchange for pennies a month just isn’t worth it.

Brandon
Brandon

worst bait and switch since Citi Prestige haha

Dylan
Dylan

I stopped using spent when they axed kroger anyway.

Cinnabar
Cinnabar

Unlinked all my accounts and uninstalled.

Grant

Me too. Did you get the confirmation email after you closed your account?

Cinnabar
Cinnabar

I forgot to close it before uninstalling, but did unlink all the cards. I’ll have to go back and do that.

Ben W
Ben W

William Charles : Dunno if anyone will care, but the ability to select next month’s picks is now available (I was surprised at how early it was available). A few different offers from before but nothing that excites me.

Dan
Dan

As this becomes useless for MS, it becomes useful for regular spend. This is the same setup as Bumped has.

brad
brad

I agree with you, but given how few stores they offer and the $20 minimum, it takes forever!!!

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