“If something seems too good to be true, it probably is.”
“There’s no such thing as a free lunch.”
Those are just two of the (justifiably) cynical things I’ve heard when telling friends and family about Quidco. The general view of people who don’t understand the model Quidco and other cashback sites use is that it must be either very complicated or some with catches.
I’m a savvy web user, a web marketer by profession and I fancy myself as being quite clued up when it comes to online scams. But I’ve been using Quidco for 2 years now.
Having had countless conversations with friends and family about this over the past few months, I thought I would answer some of the most common questions I’ve encountered about it right here.
My Quidco Earnings
In the interests of transparency, here’s how much I’ve earned on Quidco as of 16th September 2019 after just under 4 years of usage:
I should point out:
- I tend to only use Quidco when I’m going to make a purchase anyway. I don’t go there looking for deals and offers to make unplanned purchases.
- Around half of this has been made around the four Christmas shopping periods I have been using the website
- I haven’t used Quidco for all qualifying purchases. I don’t always remember! I reckon I check for Quidco links on more than 9/10 of the purchases I make though
So I’m never going to make a full time living out of Quidco, of course. But this is money simply for making purchases I would be making anyway and for very, very little additional effort.
Basically, I’m over £2,000 better off for doing pretty much nothing.
What is Quidco?
Quidco is a cashback website. That essentially means that if you buy something from any retailer online (or even in store in some select cases – more about that later), Quidco will give you cash back.
It’s that simple.
How does Quidco make money?
Quidco is a business. So of course it’s out to make money. It wouldn’t just be giving you money for nothing!
The site makes its money from affiliate revenues.
In other words, every single time someone clicks a link on Quidco to any of the listed retailers, that click is tracked. And if you then go on to make a purchase in a certain timeframe, this is a purchase tracked back to Quidco. The retiler then pays Quidco a commission on it.
Quidco passes much of this commission on to you in the form of cashback. So Quidco makes money from the retailers themselves by referring them sales. In addition, basic account holders will see ads across the site and these generate revenue for Quidco too.
How much cashback do you get with Quidco?
It depends on the retailer and the purchase. It will, in most cases, be a percentage of the sale value. This could be anything from 1% (common with electricals) up to 10% or more on things like hotel bookings.
How does Quidco pay its users?
Your cashback will be paid initially into your Quidco account where it will accrue and then you can withdraw it to you bank account or withdraw it as vouchers. You often get offered a little bit more than your balance if you opt to withdraw in vouchers.
How much does it cost to use Quidco?
You can use Quidco completely free of charge. Basic accounts don’t cost you a penny as the user. There’s also a £5/year Premium option.
What do you get with Quidco Premium?
For the £5 per year Premium fee you get access to faster payments with some retailers and you don’t see advertising across the website.
How long does it take Quidco to pay out?
Payout times vary from retailer to retailer. In many cases, your purchase is tracked within a couple of hours of you making it. But then you have to consider returns periods and things like that, so the reality is it can be a couple of months (or even more) before the cash is added to your balance.
So for the first couple of months of using Quidco, you might not accrue anything at all despite making purchases, but once you get into the habit of using Quidco links for all purchases you would ordinarily make anyway and you’ve been doing so for a few months, a little balance will tick along nicely in the background.
How to sign up for Quidco and get sign up bonuses
You can sign up simply by visiting Quidco.com. Alternatively, you can visit http://www.quidco.com/user/2868104/2364102/ which is my referral link. If you sign up via that link you and I will both get £12.50 each after you’ve earned your first fiver in cashback.