In an age where the cost of living keeps rising, finding creative ways to save is a top priority for many of us.
Enter MyLoot, a cashback platform dedicated to rewarding shoppers for everyday purchases. From groceries to travel, fashion and electronics, MyLoot offers rewards for the products you’re already buying, making saving easier than ever.
What Is MyLoot?
It’s a newer platform. MyLoot was founded in 2024 and is a fresh face in the world of cashback and rewards. This innovative platform bridges the gap between shoppers and savings by offering cashback for both online and in-store purchases.
MyLoot’s mission is simple: to turn your everyday spending into an opportunity to earn rewards, helping you make the most of each purchase.
How Does MyLoot Work?
Whether you’re shopping for essentials or splurging on something special, MyLoot tracks your purchases through affiliated stores.
With every transaction, you earn cashback, allowing you to reclaim some of the money you spend. What’s unique about MyLoot is its versatility—you can shop for a wide range of products, from groceries and household items to electronics and even travel bookings.
You can go onto MyLoot’s website and sign up to find the stores they are partnered with and the kind of offerings that are available.
For instance, I shop at Walgreens, especially for photo prints. MyLoot, partnered with Walgreens, is currently offering 5.04% cashback on purchases, excluding gift cards and pharmacy.
I’m able to click on a link within the MyLoot website that will take me directly to Walgreens to do my shopping.
I also noticed that Target is one of their partners. I love shopping at Target. The majority of my grocery shopping gets done there. I did a price comparison between Target and the other grocery stores around me, and I save money every time with them, so getting cashback is going to be even better.
According to a warning on the MyLoot website, it looks like it can take up to 7 days to see a purchase as pending in your cashback wallet. So, unfortunately, I wasn’t able to confirm that simply clicking on the link and then making your purchase from there will earn you cashback.
I’m just assuming it’ll work as promised. With Target, they are offering 3.15% cashback with MyLoot. So that savings, plus the 5% off I receive every time I use my Target Red Card, I’m saving quite a bit right there.
There are a total of 64 brands they are currently partnered with. To access the money you accrue, you can either attach your PayPal or Venmo accounts, set up a bank transfer, or choose from one of several gift card options.
I do wish they had a clear way of uploading receipts or whatever would need to be done for in-store shopping. I could not find any FAQ section, and I’m not sure how the in-store purchases work for the cashback.
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MyLoot+
Of course, there’s a paid version you can opt into to receive even more benefits called MyLoot+. MyLoot+ offers the following:
- 25% more cashback on all retailers
- 25% more cashback on gift card redemptions
- 10% more on Cheddar.tv redemptions
- No redemption fees
- No hold period of special offers
The trial offer is $0.99 for seven days. Then, it’s $14.99 a month once your trial has ended.
Why Choose MyLoot?
MyLoot stands out because it seamlessly integrates into daily routines.
Rather than needing to change where you shop, MyLoot’s broad range of partners lets you earn cashback on purchases at your favorite retailers. As more shoppers shift toward conscious spending, MyLoot provides a way to stretch budgets even further.
MyLoot also offers a pretty great referral program. You can earn $25 for every referral you make. The caveat is that your referrals need to spend $50 for you to qualify for the referral bonus. A referral link is generated for you under your profile on MyLoot. You can copy and paste it out to your friends and family to earn even more.
The Future of MyLoot
MyLoot may be new to the game and competing with other, more reestablished platforms, but they are ready to compete in the burgeoning cashback industry.
The focus on everyday spending both online and in stores makes it a promising addition to the mix. As the company grows, it continues to expand its partnerships. MyLoot is poised to become a go-to platform for budget-conscious shoppers.
So, whether you’re an avid online shopper or prefer doing your shopping in person in the stores, MyLoot is here to help you save whenever you need to spend.
