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If you’re not already familiar with it, there’s a new money app on the market, Drop! This app will let you earn rewards on the shopping that you already do!
What makes it better than most other apps, is how hands off it can be. Which also means a more passive way to earn gift cards and rewards.
We’ll cover the details more in-depth in this Drop app review!
Drop App Review: Is It Worth It?
What is Drop?
Drop is a free smartphone rewards app that gives you points based on your shopping. These Drop points can later be redeemed for gift cards and more!
This app was invented by Derrick Fung, the CEO, after he understood the spending habits of Millennials and what they valued in terms of shopping. So, he made the Drop App to help people earn rewards while they spend!
It originally was available in Canada, however, now it’s also available in the U.S. and has grown to over 1,000,000+ users!
Although this app will pretty much pay you just for doing your everyday shopping, there are some drawbacks. We’ll see later on in this drop app review who this app is right for or not.
How Does Drop Work?
The Drop app works by tracking your credit or debit card transactions.
When you go through the setup process described below, you will reach a point where Drop will give you an option to choose 5 of your favorite retailers.
So, when Drop detects that you’ve purchased some products from a retailer that’s on your list, it will reward you Drop points automatically!
Once you’ve reached enough points required to redeem a gift card of your choice, you will receive an email.
Drop won’t discriminate between you buying a generic or name brand products as long as you bought from one of your chosen retail stores.
This particularly helps out Millennials because according to this article from Lexington Law, 60% of Millennials prefer purchasing generic brands over name brands.
So from just this, we can start to see that Drop is actually great for Millennials and anyone who shop at certain stores frequently. There is also data showing how Millennials like being rewarded for some of these things just as the Drop App does.
Getting Started With Drop
If you’re ready to start earning with Drop, then you’ll want to first download the Drop app. It’s available on the Apple iOS App Store as well as the Google Play Store if you have an android smartphone.
After the app is downloaded and installed, go to it and sign up for a free account.
Next, the app will prompt you to link your debit or credit card, which can be done through the app as well. You can link as many or as few cards as you want to.
But, remember you’ll want to link the card that you use most often at the stores you visit the most. This is the card that Drop will use to track your purchases so you can be rewarded.
You might be a little hesitant to link your debit or credit card to the app, but you don’t have to worry because Drop protects your information using 256-bit encryption!
Once you’ve linked you credit or debit cards, you will be able to choose 5 of your favorite popular brands.
Choose wisely because you won’t be able to go back! Different companies have different amount of points you can earn from your purchases.
I would suggest finding brands that have decent or good point systems, are well-known and ones where you shop the most often.
How To Earn Rewards
Once you’ve completed the setup process, you’re ready to start earning Drop points and rewards! When you shop at one of the retailers that you chose during registration, you’ll be able to earn points.
The app will track your transactions and when it sees the purchase, it will reward you. The amount of points you receive will be based on your 5 selected favorite companies.
For your reference: 1,000 Drop Points is equivalent to $1
It may also take a 2-3 business days to see the points roll into your account automatically!
Once in a while, there’s also special offers from various different companies. You’ll definitely want to watch for them.
If you see any, simply activate the offer. When you meet the purchase requirement, you’ll earn the bonus Drop points!
How To Redeem Rewards
Now that you’re earning points from your shopping, you’ll want to redeem the rewards. You can redeem gift cards for popular stores and brands, once you’ve reached enough points.
For example, when you’ve collected a minimum of 5,000 Drop points, you can redeem them for a $5 Amazon gift card.
How To Maximize Your Rewards
After you’ve followed all of the steps outlined above, you’re all set! However, you may be wondering, what about credit card rewards, cash back opportunities, etc.? Well, here are my tips and suggestions on how you can maximize your rewards!
- Use a cashback credit card on your purchases and link that card on Drop. This way you can stack the rewards!
- Keep an eye out for bonus offers on Drop as I mentioned before
- When shopping for groceries, use the ibotta App to earn even more cashback using your receipts!
In summary, here’s how to use the Drop App:
- Download the Drop app, via iOS or Google Play Store
- Link your credit or debit cards
- Select your 5 favorite brands, preferably where you shop most often
- Earn rewards automatically when you shop and use offers when available
Drop App Pros & Cons
- Free and easy way to earn cashback effortlessly from shopping
- Many options available for well known companies when redeeming gift cards
- Can be combined with other rewards such as credit cards and programs
- Only works when you make a purchase with a linked card
- Drop points can only be redeemed for gift cards, not direct cash money
Drop App FAQs
Yes, Drop uses bank level security encryption to ensure your information is protected.
Drop partners with these big brands by giving them exposure to the app users in exchange for rewards. Drop keeps part of those rewards and gives out the rest to consumers like us!
Usually it may take 2-3 business days to receive your rewards in the Drop app. Most likely you’ll see them within a week of the debit or credit card transaction date of a qualifying purchase.
Yes! I use my Bank of America Rewards credit card for most purchases. I earn 3% cashback at restaurants, 2% on gas and 1% on everything else! So definitely take advantage of stacking offers and rewards for maximum cashback.
At the moment, no your Drop points do not ever expire unless you redeem them for gift cards.
Free gift cards, no cash at the moment.
You can find answers to more questions here!
Drop App Final Thoughts & Rating
Drop is one of the best free rewards apps. You automatically earn points for purchases that you can later redeem for gift cards. It’s a great way to earn some passive money.
This app is perfect for Millennials or anyone that shops at the same stores frequently.
One of the best features about the app is the ability to combine rewards and offers with credit card and other cashback programs.
That concludes this Drop app review. Check out some of these other articles that can help you earn more and save more!
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