Getting started with the Drop app
Getting started with Drop was a breeze. It took me only 5 minutes to set up my account; then, I was ready to start earning!
During the signup process, you get to choose two top retailers to earn cashback in-store. It’s best to choose brick-and-mortar retailers where you spend the most money to maximize your earnings. As soon as I logged into my new account, I noticed the 5000 points ($5) signup reward was already there.
Earning with Drop
There are several ways to earn with Drop. First off, you get points from online shopping at select retailers through the Drop app. Most retailers offer between 10-50 points per dollar spent, equivalent to 1-5% cashback!
You also earn points from “power offers,” used when you shop at your two selected retailers in-store. Select these two retailers carefully as you currently aren’t able to change them.
When you earn through power offers five times, you get to play a snakes game on your phone to earn bonus points. Don’t expect to get rich off this – my high score is 318 points ($0.32), and the earning caps out at 999 points ($1.00). It is a neat little feature, though!
Finally, be aware that it takes several business days for points to get rewarded from your offers. This is typical of all cashback apps and websites on the market.
Redeeming your points for rewards is a breeze. My reward of choice came in the form of an e-gift card, which appears to be most common. I have seen some rewards that come in the form of promo codes (i.e., $10 off your purchase, instead of a $10 gift card).
There is a pretty good variety of popular retailers to redeem with. However, many gift cards come in only one denomination, and if your favorite retailer only has $25 gift cards, you’ll have to wait a while to earn enough for redemption!
Be wary that some e-gift cards take 1-3 days to appear in your app, which is typical of all cashback apps and websites. Don’t expect to redeem points and use the rewards right away.
What I liked most about Drop
The drop appears to be your typical cashback app to earn from online shopping. What makes it stand out from the rest in my eyes is the ability to earn for in-store purchases as well!
There are plenty of retailers to earn from, including a few exclusive ones that I haven’t seen on any other cashback app. Typically you’ll see small, fast-growing online retailers offer very generous deals on Drop. There are still some decent rewards to be earned with the big-name retailers, though.
Finally, I love how easy it is to stack rewards. Think about it: you can earn rewards through both your credit card and Drop on the same purchase. If that retailer offers their own customer loyalty rewards, then you’re earning TRIPLE the rewards on the same purchase!
What I liked least about Drop
The app offers points for completing surveys, but to be honest, it is not worth the time (unless you enjoy doing them for fun).
The points system, in general, is great, but my biggest criticism is that you cannot change your power offers at all. I understand that they could easily be exploited if infinite changes were allowed. Still, please change your power offers once every three months or so.
Finally, one minor drawback is the limited denominations for rewards. Drop has some great rewards available, but only in select denominations. I’d love an Amazon gift card, but I can only redeem in $20 multiples. At the time of this review, another popular cashback app offers Amazon gift cards in $5, $10, $20, and $50 multiples. It’s not a deal-breaker per se, but the flexibility to redeem in different amounts would be great.
Who is this product for?
- Everyday people who would like to earn cashback on their purchases, both online AND in-store.
- Die-hard reward seekers, points hackers, travel hackers, whatever you want to call yourself. There are quite a few high-value offers on Drop that I haven’t seen on competitor apps that are worth the time to complete.
Who is this product not for?
- The 24% of consumers who never shop online.
- People who choose not to use credit cards. This is a mandatory part of the app as you need to link your card to earn points.
Ready to give Drop a try? Click here to get started!
Brian Thorp is the founder and CEO of Wealthtender, a leading personal finance website helping thousands of people each month find the best financial advisors, coaches, and educational resources to enjoy life with less money stress.