【2021.12 Update】According to recent news, this app will shut down on December 30, 2021. Be sure to cash out before then. The notice says that if you do nothing, the balance will automatically be sent to your selected payout method. Still, I’d recommend withdrawing manually just to be safe—who knows if there will be any money left later.
【2019.6 Update】An email went out saying that Pei has increased its sign-up bonus to $15. To qualify, you need to sign up with the referral code below, link a credit card, and then earn cashback once. The PEI APP is very easy to use: just link a credit card, use it at participating merchants, and points will automatically be added to the app. It stacks nicely with the cashback you already earn from your credit card. Merchant coverage is also pretty broad, including 7-11, Walgreens, Starbucks, CVS, Target, Sephora, Panera Bread, and some local restaurants.
- Pei APP sign-up link (Get 1500 points for signing up; you must use code: pb0i0i, with the 0s being zeros)
In addition, Pei has extra cashback promotions. Currently, if you spend $20 with a linked card on Uber or Lyft, you can earn an extra $2. Also, actions such as linking a card, referring friends, cashing out with a gift card, and visiting 5 merchants can increase your cashback boost, giving you an extra anywhere 1% cashback, up to 500 points.
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What Is the Pei APP?
Another cashback app recently launched: Pei. In the Pei APP, you link your credit card, and then purchases made with that card at participating merchants earn additional cashback from Pei automatically. It’s very simple. This cashback does not conflict with your credit card rewards or shopping portal cashback, so you can earn all of them at the same time. It’s similar to the now-defunct Earn By Miscrosoft. In short, once your card is linked, you don’t need to do anything else—just use your card as usual and collect extra cashback.
How to Sign Up and the Sign-Up Bonus
If you sign up for the Pei APP directly, you may be placed on the waiting list. If you sign up with a referral code, you can start using it right away.
- Pei APP sign-up link (Get 250 points for signing up; you must use code: pb0i0i, with the 0s being zeros)
- To receive the 250 points (=$2.5), you need to link a credit card. Linking requires logging in to your bank’s online account. Pei says this process is encrypted, that all data is handled on the bank’s backend, and that Pei only transmits encrypted data. In reality, that’s pretty much how all card-linked apps work, so personally I don’t think there’s much to worry about.
After linking your card, the points should show up shortly after.
Redeeming Pei Points
Currently, Pei points are worth 100 points = $1, so the value is 0.1 cents per point. You can redeem for PayPal, bitcoin, or gift cards. You need at least $15 in rewards before you can cash out. For bitcoin, you need to enter your bitcoin account information; same for PayPal. At the moment, the only gift card option is a Visa gift card, and there’s no mention of any discount.
How to Earn Points
Once you link your card, you can earn points simply by using that linked card for in-store purchases. The cashback from your credit card and the cashback from shopping portals do not conflict with Pei points. A small number of dining merchants offer 5% cashback, while most merchants are in the 1%-2% range. Some merchants also have a daily cashback cap of $5. A few examples:
- 1%-2% tier: 7-11, Walgreens, Starbucks, CVS, Target, Sephora, Panera Bread, Panda Express, Domino’s, Chick-fil-A (basically a lot of nationwide chains across dining, shopping, and groceries fall into this tier)
- 4%-5% tier: some local coffee shops and local restaurants
I recommend using the nearby feature to quickly see which merchants near you offer cashback. They are clearly displayed on the map.
Best Uses
For Typical Consumers
For most people, the best approach is simply to link the credit card you use most often and then wait for the Pei points to roll in. Since Pei is a card-linked cashback program, it should not affect your credit card rewards or shopping portal cashback, so in an ideal scenario you can stack triple rewards. It is still unclear, however, whether Pei cashback can stack with similar programs like Ebates in store cash back. If it can, that would be even better. Feel free to test it out.
As for which credit card to link, it makes sense to use one that you frequently use for dining and drugstores, especially if it already earns strong rewards in those categories.
Category Conversion
Since many of Pei’s partner merchants sell third-party gift cards in-store, you can effectively earn an extra 1%-2% cashback by linking your card and then buying gift cards there. For example, Target, CVS, and Walgreen all sell a good number of third-party gift cards.
Sign-Up Link
- Pei APP sign-up link (Get 500 points for signing up; you must use code: pb0i0i, with the 0s being zeros)