What Is The Pei App?
The Pei App is one of the newer cash back apps around. Although it is a newer app, the number of available stores in the application has increased significantly in my area over the past couple months of my use. I expect as more users join they will continue to increase the number of retail stores and restaurants available. However it's always nice to get the surprise notification that I just earned cash back at a store I was not expecting! Pei works by connecting your credit card or debit card without using a pin number. Once your card is connected you will also need to turn on your phone's location so that Pei can properly recognize your purchase with the location of the store in order to confirm a successful transaction. After the initial search through the application to find stores in my area that I'm most likely to shop at, I personally don't even open up the app unless I'm making a decision between two places. If I know I can get cash back via Pei or another cash back app, it may make me lean towards one restaurant vs the other.
RideShare:
If you use Uber (3%) or Lyft (1%) often, then the Cash back they provide could be a nice incentive. Other than that, their list of preferred merchants is slim for their "Online Deals". Only local options for restaurants are of any real benefit to me personally. Boost Points: Their Cashback Boost is a nice feature as well. Use the Cashback Boost to increase your Cashback rewards by 1% anywhere you shop, for a 48 hour period, and the retailer is NOT required to be a Pei Partner. So if you plan on having a major shopping day sometime soon, or on vacation, be sure to activate the boost option to gain some additional cash back. This is a nice general increase to the normal cashback from your credit card provider, although it has limited use. In order to activate the boost you must first unlock it by hitting 20 points. Point System: +1 Link a new card +2 Invite a Friend +1 Gift Card Cashout: Choose the gift card option to cash out at least once, instead of PayPal or Bitcoin. +1 5X Loyalty: Get the 5X Loyalty Bonus for shopping at a merchant 5 times. +2 Preferred Merchants: Shop at a Pei Preferred merchant. With the Cash Boost you will receive 1% bonus over a 48 hour period, no matter where you shop, but you can only gain a max of 500 points during that time. $500 is not a difficult number to stay under considering you would have to spend $50,000 during that 48 hour period in order to max it out! Black Friday, Cyber Monday, or perhaps a vacation would be a great time for you to activate your Cashback Boost! Bonus: Get $2.50 sign up bonus after the first time you make a purchase with a Pei merchant. There's a limit of 50 referral bonuses you can receive for inviting friends and family. Payments are made via PayPal, Bitcoin, or Gift Cards, with a $25 minimum to cash out. Invest Your Cash Back!
Want to do something smart with your cash back? How about use it to pay off student loan or credit card debt. You can also use that cash as essentially free money to invest in the stock market. Webull is currently giving away 2 free shares of stock to any new user who deposits at least $100 in their Webull trading account during the sign up process. These 2 free shares of stock are valued between $12 to $1400. This is a great way to get started investing just by doing your normal online and in-store shopping, receiving cash back, then putting that cash back to work in the stock market.
The Pei App is in my Top 7 Cash Back Apps, so if you haven't watched that video, be sure to check out my Top 7. Is the Pei App an app you would want to use given this information? I use the Pei App along with many others to ensure I'm always stacking my cash back rewards, and you should too. Let us know what you think or your experience with the Pei App in the comments below.
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