How it works
Sprive is a little different from the other cashback apps because the money you earn doesn't come back to you as cash to spend.
Instead, Sprive gives you cashback on your everyday spending and puts those rewards towards overpaying your mortgage. You can link your mortgage and bank account to the app, then earn cashback when you shop with participating retailers.
The cashback is added instantly, but rather than sitting in your bank account, it goes towards your mortgage overpayment.
My experience
I think Sprive is a really clever idea if paying off your mortgage quicker is a big priority for you.
The downside is that you don't actually get extra money in your bank account to spend, so I wouldn't choose this over a cashback app that gives you cash back if your main goal is simply saving money on your everyday spending.
For me, it's more of a “set it up and let it chip away at your mortgage” type of app.
Things to note
- You can get a £5 sign-up bonus (subject to the current offer). Use code BUDGET25 when signing up.
- Cashback is earned from everyday spending with participating retailers.
- Cashback is added instantly.
- Your cashback goes towards your mortgage overpayments, rather than being paid into your bank account.
- It's particularly useful if becoming mortgage-free sooner is one of your financial goals.
- It's not the best option if you want cashback that you can withdraw and spend elsewhere.
My verdict
I think Sprive is a great option if overpaying your mortgage is a top priority and you like the idea of making extra payments without really having to think about it.
But if you're looking for cashback that gives you extra money to spend or put into your savings, I'd choose one of the other cashback apps instead.
Sign up here with code BUDGET25.