I’ve been using Sprive for about a month now, so thought it was time to post an update on the good, the not so good and results.
The good:
The concept is brilliant. Buy shopping cards through the app to earn cash back that is delivered directly to your mortgage account.
It’s really easy to link your mortgage and then one click sends your accrued balance straight to your lender. I’m really impressed so far.
Selection of retailers. There is a great selection of retailers who have signed up (including Amazon who rarely partake in cashback deals) I have used it for shopping I would do anyway- gift cards for the supermarket food shop, clothes in the M&S sale. I’ve started making sure I check Sorive before making any purchases. It’s really easy to buy gift cards for the exact value you need (or more-entirely up to you) and they stay easily accessible in your app, or you can add them to your phone wallet too.
One of the best things is because it’s buying a gift card, you can still shop through apps like TopCashback and Quidco to get cash-back on your purchases as once bought, it’s a payment method. Double win in my eyes The only thing to make sure is that the gift card can be used for the way you shop. Tesco, for example, is in-store only, which is great for me (and still stacks with Clubcard plus). It’s really clear on the app for each retailer.
Cashback on experience, food and drink, eating out can be really high. I got 11% on a restaurant gift card and could then use blue light before settling the bill as well.
The not so good
For me, buying cards whilst in store at the checkout is hit and miss. I’ve been stuck with the app whirring due to poor internet and it’s really stressful. I always buy in advance now for in person shopping.
I do an auto save for a set amount each month. This is a great feature but it’s clunky. Money leaves my bank account one day and takes about three days to show up in Sprive. Not sure why it’s taking so long. I like the feature but this could easily be streamlined. After all, gift card payments are instant, why aren’t these?
Not always the best cash back rates when compared with Jam Doughnut. This negative is offset for me by the fact I wouldn’t regularly drip feed minute cash-back amounts from another platform in to my mortgage. I lack the discipline. So Sprive will gain a bit more in interest saved as I transfer it as soon as I have £5 (minimum amount you can transfer).
The results
Over the past month, I have paid off over £150 on my mortgage by using Sprive. This does include some auto saving but gift card use has accrued to over £50, In fairness, this has been a big spending month (family birthday and mothers’ day so higher than usual) but I’m impressed. The money would have been spent anyway and this way I got something back.
I signed up using someone’s referral code and would love it if someone used mine.
My referral code is WWM8EG91.
This will get you Sprive Plus for free, and be in with a chance to win your next mortgage payment.
Here's the link to download:
https://linkprod.sprive.com/refer?code=WWM8EG91
Thank you!