Drop has been steadily devaluing its earning opportunities lately. For example, in the “Drop cut the cash-back rate for existing users’ linked offers (Amazon down to 5 p/$, 0.5%)” we posted in 101 News before, there were of course some relatively positive changes: 1, 2. But overall the trend has been moving in a bad direction; in domestic jargon, this would be called a “soft devaluation.”
The author, KUKU, had finally saved up $20 and was planning to redeem Amazon today (it had already been devalued to require $20 to redeem), and then, well, nope. Here are the changes in the title:
- The minimum redemption amount has been changed to $25
- Redemptions are now divided into four tiers: $25, $30, $50, and $100
- Amazon and Best Buy have both been moved into the $50 redemption tier; even Starbucks is now $50
Another thing worth mentioning is that the primary/secondary card dual-account Double Dip strategy that had long supported Drop’s earning opportunities also seems to have been devalued by Drop. At least under the same Drop account, you can no longer Double Dip; it is still unclear whether it works across different Drop accounts.
Hopefully these devaluations are only temporary. Maybe in the future Drop will only be able to grab attention with the occasional high-cash-back promotion, like the earlier Apple 150 points/$ and Seamless’s 10%
https://www.uscreditcards101.com/drop-app-review/