Drop App Review - Cash Rewards

Updated on July 17, 2018
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Katy has mentored young professionals beginning their careers and financial journeys to make informed decisions.

What is Drop?

Drop is a Canadian-based app that gives you cash rewards for everyday purchases. You earn points by linking your credit cards and making normal purchases with them or by making purchases through their online portal. Points can be redeemed for gift cards at common retailers.

Review Drop

What was your experience with Drop?

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Drop Cash Rewards Review

I've tried almost all the bonus cash back services available and Dosh has stayed in my regular rotation for the past 3 months since I signed up.

Positives:

  • You can link cards that are already linked to other services like SB Local, Yelp Rewards or Dosh.
  • Completely passive earning with the linked card.
  • Additional points for online purchases made through the app.

Negatives:

  • Online purchases must be made on mobile.
  • Cash back percentages through the online portal are low.
  • You can only pick 5 stores to automatically earn points with by using the linked card.

Drop is my second favorite app for passively earning points through a linked card (Dosh is my most preferred, if you were wondering). But I think it's worth it for anyone who makes regular credit card purchases to sign up. I would not recommend the online cash back portal because there are so many out there with higher cash back rates. But just signing up and getting your card linked will allow you to start earning with the 5 features retailers you select.

Signing up for Drop is easy, but it does require an app download.

Earn easy, bonus cash rewards with Dosh.
Earn easy, bonus cash rewards with Dosh. | Source

How to Earn Rewards

You can earn points through Dosh with two methods: making purchases with a linked card and making purchases through the in app portal.

Linking Cards

Drop gives you bonus points for the first two cards you link. However, the process to link cards can be a hassle. Unlike similar apps that have you enter the credit card number Drop makes you log in to the bank account.
The biggest “technical difficulties” complaint that users have is not being able to link their cards.For mine I had no problem with logging into Chase and adding my Freedom card. But I’ve had the app for a few months and my Capital One login hasn’t worked yet!

Automatic Earning

The best part of Drop is the points you earn automatically just by making purchases like you normally would with your linked card.
Right now there’s only a limited number of stores (20 or so) available
Some big business that are available include:

  • Target (0.8% back)
  • Walgreens (0.8% back)
  • Starbucks (1.2% back)
  • Safeway (0.8% back)

They offer a few other more specific retailers also like H&M and Chipotle.

A big drawback here is that Drop only lets you pick 5 retailers and you only get to make the choice once. There's no changing them once you get signed up so make sure you select what you want.

Online Cash Back Portal

Many businesses like Ebates and Upromise offer a certain percentage of cash back when you make online purchases through the links on their websites or apps. Drop offers the same thing through their mobile app.

The percent rewards through Drop aren't any higher than you would find elsewhere. For example, Walmart is only 0.2% and Ebay is 0.15%.

Portals through credit card lenders will be higher for major retailers (Chase and Discover gives 5% back on Walmart) and services like Ebates will give you a bigger boost for more obscure purchases if you're willing to comb through them.

Retailers available for automatic cashback (pick 5 only)
Retailers available for automatic cashback (pick 5 only) | Source

How to Redeem Points

Unlike other competitors that allow you to cash out points to a PayPal account Drop only allows users to redeem their points for gift cards. Thankfully the gift card selection is large and the cut off is fairly low ($5 is the lowest).

The gift cards are sent to you via email and work just like any gift card code.

Maximize Your Cash Back

Here are some tips to maximize the points you can earn through Drop.

Credit Card Reward Stacking

When combining with cards that offer 5% back on rotating categories or an everyday card that gives you 1-2% back you can stack rewards with Drop to earn very quickly with low effort.

At the very least Drop has the potential to be a low maintenance addition to your credit card rewards strategy. The linked cards earn points from the 5 selected stores with no action from you.

Manufactured Spending

Credit card reward junkies use manufactured spending strategies to make purchases on a rewards card that they turn back into cash or at least apply to purchases beyond the category intended by the rewards company.

Drop's online portal doesn't give points for gift card purchases so there's not an easy way to game the system there. But with the 5 retailers you chose to earn automatic cash back it doesn't matter what you buy. So for example you could buy gift cards at Target to other retailers you use and earn a little bit back on those right away.

Other Money-Saving Apps

Drop can be fun but is ultimately a hands-off, waiting game. How else can you save money in the meantime?

Apps like Ibotta take a bit more work but give you cash back on groceries and other items.

If you're looking for clothes or household items the bargain shopping apps like Wish or Geek can be a huge money saver. But be sure to check out my Wish review for some cautions before you buy.

Questions & Answers

    © 2018 Katy Medium

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