Written by Karen Bryan
It’s a topsy turvy world. A couple of months after the Quidco UK cashback site finally decided to waive its £5 annual membership fee, TopCashback.co.uk have decided to introduce a Plus membership, which charges a £5 annual membership fee.
The main perks for Plus members are an extra 4% in cashback (basic members already get a 1% bonus) and an additional £2.50 paid on the standard £10 fee for referrals. TopCashback say that Plus members will enjoy a faster response from customer service. I’m unsure of the value of special promotions and competitions. Receiving a monthly statement is pointless, as I can log-in to check my account anytime. Having ads removed seems irrelevant as a benefit, as I never found the ads on the site to be intrusive.
As an existing TopCashback member, I was offered a 3 months free trial for the new Plus option. I decided to opt in. I reckoned I’d nothing to lose. I worked out that I’d need to earn a minimum of £125 in cashback over a 12 month period to cover paying a £5 annual fee ( ie the 4% additional cashback on £125 equals £5). It’s hard to say if I’ll earn as much as that in a year.
I take my own advice on using cashback sites to look for the cheapest deal and only use cashback sites on which to make that purchase. My logic is that if I am paying the lowest possible price, then even I the cashback isn’t paid, I save money. I avoid being lured into paying a higher price by a larger cashback.
It’s hard to judge if the TopCashback Plus membership will be popular due to the relatively high threshold of £125 in cashback earned to recoup the £5 annual fee. If Plus members drive a few referrals a year, the extra £2.50 per referral could quickly cover the £5 annual fee.
I think it’s a clever move to offer existing members a 3 month free trial of Plus. I reckon that many members will forget to downgrade to standard (Classic) membership and end up paying the £5 fee. So, if you do sign up for the free trial, make a date in your diary to make the decision whether to revert to standard membership or stay as a Plus member.
Click here to join TopCashback.
This article is based on my personal research and understanding of TopCashBack.co.uk. I will receive a commission if you join TopCashBack.co.uk using the links in the article and then go on to earn a minimum of £10 in cashback.