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Inflation remains subdued, with the CPI for all items rising 0.3%, seasonally adjusted, in February. US Bureau of Labor Statistics data. Over the past 12 months, the CPI across all goods rose 2.4%, with food rising 3%.
With that in mind, I asked ChatGPT about the best apps and rewards for fighting inflation.
“If your goal is 3% or more effective cash back to fight inflation, the trick is usually to combine rewards apps with a good credit card,” ChatGPT said. “Most apps alone offer 1% to 10% on specific purchases and when stacked with 2% to 3% cards, you often get 4% to 10% overall.”
Here are some of the favorites for shoppers across the US
Best for everyday online shopping: Rakuten
ChatGPT mentions Rakuten as a recognizable industry leader for cashback when you shop online. Rakuten uses an online portal or browser extension, allowing shoppers to receive cash-back deals and still have a seamless experience. According to the Artificial Intelligence (AI) chatbot, it works at over 3,500 stores and generally offers cashback between 1% to 10%.
Best for Bonuses: BeFrugal
ChatGPT initially held back from sharing some of the more popular apps. When asked further, it was revealed that BeFrugal is “extremely competitive” in terms of cash back. It often matches or beats Rakuten rates. Right now, there is a $10 bonus for new users. The app supports over 5,000 stores.
Best for Amazon: ShopBack
ShopBack is a new cash-back app in the US that has a following throughout Asia. It often offers a higher percentage of cash back than Rakuten. It is one of the only cash-back app partners with Amazon, where you can earn 1.5% cashback on most purchases. This is especially helpful if you’re making a large purchase.
ChatGPT said it is strongest for “travel bookings, large online purchases, and the occasional big promotion.”
Best for Groceries: Ibotta
Ibotta offers cashback online and in stores when you scan your receipt or use your linked store loyalty card. You can withdraw cash once your account reaches $20. “It’s basically a digital coupon discount combined with sales, loyalty discounts, and credit-card rewards, which is why couponers love it,” ChatGPT said.
Best for Gas and Food: Ulta
Upside is a handy app that can help you find the lowest gas prices in your neighborhood, load cash-back offers, and then pay from the app using your linked debit or credit card.
Upside also has cash back offers for restaurants, grocery stores, and convenience stores. For example, at the time of writing, users can earn 31% cashback at Applebee’s or 34% cashback at Panera Bread.
Then, ChatGPT shared a secret that it said “power users” trust. It says, “People who really maximize rewards typically install multiple cash back portals and check them before shopping.”