Cashrewards No Longer Has Their Guarantee Anymore?

witsa on 28/03/2023 - 00:32

I bought a product the other day, their system itself has recorded it has been tracked with the correct reward amount. I waited till past the Approval date and noticed it was still pending. I enquired and they just said they were still waiting on the retailer and would let me know if the retailer ever paid out.

That doesn't seem to be consistent with previous experience. Out of all the cashback services, I always used to go with Cashrewards because it had a guarantee that for whatever reason if it doesn't get tracked or the retailer doesn't pay, they would still pay you out if you had a receipt.

I can't seem to see this on their website anymore - has this condition been removed?

If that's the case, it seems the best cashback site to use is the site with the best discount.

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Comments

  • Unorthodox on 28/03/2023 - 08:44
    +7

    Don't think they've had a guarantee (ever?)?

    My past purchases via CR that are close to $100+ have nearly all been missed by CR over the last year and every one has had to do review and they don't even bother trying or updating me when it declines.
    (Including when I specifically link an ozb post or their upsized cashback for that promo).

  • lostgoat on 28/03/2023 - 08:50
    -1

    The truth is CR was way in front of SB before the float . People cash in and now CR is no where near the level of SB .
    So much for looking after shareholders .

    • Clear on 28/03/2023 - 10:50

      I made a decent amount of profit when I accepted the buyout offer. Can't complain here.

      • rmh876 on 28/03/2023 - 16:07

        I lost a fair amount on the buyout, made up on another sale of shares later in the year to break even, win some you lose some.

        I did promise never to purchase and use their service again, which I’ve held myself to!

        • Clear on 28/03/2023 - 16:11

          I think the main problem is that people saw that it's not making a profit, assumed it was overvalued and sold out. It was pretty obvious ANZ was going to initiate a buyout based on the documents that were released prior to them being listed.

    • witsa on 28/03/2023 - 21:01

      Wow just did some research on them. I kind of thought they were like a little start up. I didn't know it was listed and then now owned by ANZ.

      Wow this is a dodgy business to be owned by a major bank. I'm not sure how they manage to get away with it without the ACCC stepping in.

      1. they advertise a cashback of x% but that cashback doesn't include GST. Sure it's only 10% of a tiny amount but what other business doesn't factor in GST in their advertising?

      2. They occasionally deny claims purely because the user apparently "bought it wrong" or the retailer just decides not to give it. Can't imagine any other business that could get away with advertising a discount and not honouring it.

      • Clear on 28/03/2023 - 22:05

        Wow this is a dodgy business to be owned by a major bank.

        Well you see that's the thing… they're not owned by a major bank. They're owned by 1835i which is the external corporate venture capital arm of ANZ Bank and Cashrewards is run independently of 1835i.

        • GEE-SHOCK on 29/03/2023 - 00:14

          Wow you are being crystal clear here 💎👌🏻

      • scotty on 20/04/2023 - 14:20

        Major banks just want the consumer data…

        • Cashrewards owned by 1835i that's owned by ANZ.
        • Cheddar owned by x15 that's owned by CBA.
        • ShopBack got investment from Westpac.

        Anyone here working at NAB Ventures?

  • niyiaw on 28/03/2023 - 09:05

    Not sure there was a guarantee but the service has been less prompt that before. Chased up a pending cashback that should have completed from beginning of Feb and every time I asked for a followup I would be told they are contacting the retailer and would get back to me but never did unless I initiated contact and then all I got was the copy and paste email. It ended up rejected but not sure while it took over a month for them to decide with poor communication in between.

    And even though it's been rejected, it's still sitting as pending in my list… I've contacted them again so will see how long it takes…

  • Hellfire on 28/03/2023 - 09:54
    +3

    I'm not sure when they got rid of it but it seems to have been around in 2021 at least according to this post: https://www.ozbargain.com.au/node/589968

    Here is a version from 2020
    https://web.archive.org/web/20200302030549/https://www.cashr…

  • Seraphin7 on 28/03/2023 - 09:57
    +2

    The challenge with this is lack of transparency when rewards are delayed or declined. There should be more information than "it's up to the retailer".

    If the situation is genuine, there is absolutely no reason for a delay in payment (noting the usual wait period is around three months any way). Equally there is no reason why more detail can't be provided when there is a decline. "The retailer chose to decline it" really doesn't cut it when people are using these sites in good faith.

  • JimmyF on 28/03/2023 - 10:46
    +3

    Gave up on Cashrewards as it was a hot mess of 'missed' rewards that it wasn't worth it.

  • lostgoat on 28/03/2023 - 11:54

    My summary is currently. 90% of my pending cash back is at SB vs 10% at CR . Going back to the time I said above it was virtually opposite.

  • HardQuiz on 28/03/2023 - 13:36

    Similar experience, CR is getting less business from me these days.

  • herysoe on 28/03/2023 - 14:29

    this is for @TA to respond

  • Aussiebargainer on 28/03/2023 - 15:53

    I don't ever remember a Cashrewards guarantee. Basically, they only pay out if they themselves get paid. I have had several transactions declined over the years as the retailer just never paid them. Always a gamble.

  • GEE-SHOCK on 29/03/2023 - 00:17

    because it had a guarantee that for whatever reason if it doesn't get tracked or the retailer doesn't pay, they would still pay you out if you had a receipt.

    As someone who has been using CR since 2020, I don’t recall ever seeing this clause? It has always been “up to retailer” or they just have the right to final interpretation…

    Pls correct me if I’m wrong. hmm

    • witsa on 29/03/2023 - 00:40
      +1

      Someone above has a link to the wayback machine of the policy.

      There was a limit but it used to be good, they honoured it a couple of times for me.

  • Willyslicks on 30/03/2023 - 05:34

    Lot worse at tracking

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