Does CVS Do Cash Back in 2022?

Article Summary:

CVS, a popular pharmacy and retail store with nearly 10,000 locations across the United States, offers cash back to debit card users at checkout. There is a $35 cash-back limit per transaction, and cash back is not offered to customers paying by credit card or check. Customers do have to make a purchase to get cash back, but there is no minimum dollar amount and no fee.

CVS is one of the most popular pharmacy and wellness chains in the country, with store locations in nearly every state. They are virtually a one-stop shop for both prescription medication needs as well as basic grocery items and other household items.

Cash back is a helpful modern convenience that is widely available at stores like CVS. It saves customers time by not making them visit an ATM and saves money if they potentially have to visit an out-of-network ATM. CVS stores offer cash back free of charge, with a cash-back limit of $35. However, customers can only receive cash back through debit card purchases.

What is cash back?

Cash back is an increasingly popular way to both get physical cash in hand and to get rewards dollars for making transactions. For debit cards, a cash-back transaction involves cardholders receiving cash when they make a purchase, which typically is a small amount above the cost of the item. The cash amount gets added to their total.

For credit cards, cash back refers to a benefit that refunds the cardholder a small percentage of the amount that is spent on each purchase above a certain dollar threshold. The first cash-back program started with the Discover credit card, which was introduced in 1986. It is effectively an incentive for cardholders to use their cards.

What does CVS sell?

CVS has nearly 10,000 store locations in 49 states, Washington D.C., and Puerto Rico. They offer pharmacy, health, and wellness services, and sell typical grocery items as well as toiletries, household products, and some office supplies.

Does CVS do cash back?

CVS offers cash back at the checkout register in $5 increments. The CVS cash-back limit is $35. Customers can only receive cash back at CVS stores on debit card purchases. Cash back is not offered with purchases made with credit cards or checks.

What are the rules for obtaining cash back at CVS?

There are certain rules and stipulations that come with obtaining cash back from CVS stores.

Minimum purchase

You do have to make a purchase, but there is no minimum purchase amount to receive cash back at CVS. Even if your purchase costs less than $1, you can still get cash back at a CVS store.

Limits

The CVS cash-back limit is $35 per transaction. If you need more cash back, you will have to make separate transactions with up to $35 cash back each time. Customers are usually able to get cash back in any denomination, as long as the total is $35 or less.

Fees

Unlike some other retail stores and ATMs, CVS does not charge any cash-back fees. The only requirement to receive cash back is to make a purchase.

Gift cards

CVS does not allow customers to redeem a gift card for cash back or store credit. Gift cards can only be redeemed for merchandise at CVS. However, CVS does allow gift cards to be exchanged for CVS gift cards online.

Pro Tip

If you want to exchange your gift cards for cash, some websites allow you to sell your gift cards online in exchange for cash.

Does CVS make money from cash back?

Since CVS does not charge a fee for cash back, they do not make any profit from offering cash back to their customers. All customers have to do to receive cash back is to purchase any item and request cash back at checkout.

CVS is unusual in this sense, as most similar retail stores that offer cash back do charge for it or require a minimum purchase amount. This allows them to profit from cash back in a way that CVS does not.

Can I get cash back with a credit card at CVS?

Most credit cards do not allow cash back at the register, and cash back is not offered to credit card users at CVS stores. Only Discover’s “cash at checkout” feature allows you to get cash back on your in-store purchases at participating retailers, but CVS is not one of them.

How do cash-back rewards work?

If you use a rewards credit or debit card at CVS, you may be able to earn cash-back rewards for future purchases.

Unlike traditional rewards points programs that can only be used to buy goods or services, cash-back rewards are, simply, cash. They are typically presented to the cardholder on a monthly credit card statement. Consumers may receive their cash-back rewards either through direct deposit to a linked bank account, as a statement credit reducing that month’s bill, as a gift card, or through the mail by check.

Rewards structure

Cash-back credit cards typically come in the form of a flat-rate rewards structure or a bonus or rotating rewards structure. A flat-rate rewards structure gives you cash back on any eligible purchase, while a bonus or rotating rewards structure gives you cash back on certain types of purchases.

What are the benefits of cash back?

When using your debit card to get cash at the register, you can save yourself an extra stop at the ATM and possibly a little money if your ATM fees are high.

The benefits of cash-back programs allow credit card users to be rewarded for using their cards. It’s an easy way to earn rewards for making simple purchases, such as at grocery stores or when you’re out shopping. Additionally, some credit card networks partner with third-party companies and websites to offer discounts on certain products as well as cash back.

Pro Tip

Some credit card companies also offer cash-back rewards as part of a signup bonus if you meet a minimum purchase requirement in the first months of having the card. These bonuses can total in the hundreds of dollars.

What are the negatives of cash back?

The convenience of getting extra quick cash is also the problem. You will have to remember that you spent that extra money.

Cash-back credit cards can have high annual percentage rates (APRs) or can charge high annual fees. They can also put a ceiling on how much cash back you can earn. You can even lose your cash-back rewards if you fail to pay your bill on time. Customers also might not get their cash back in as timely of a manner as they’d like.

FAQ

Does CVS do cash back with Apple Pay?

You can’t get cash back with Apple Pay at CVS. Since CVS policy only allows debit card customers to receive cash back, Apple Pay users do not qualify.

However, you can get cash-back rewards for using Apple Pay with a Discover Cashback Debit Card. Discover offers 1% cash-back rewards for all transactions made with Apple Pay using the card.

Pro Tip

You also cannot use Apple Pay at CVS to make purchases with the app or CVS online.

Does CVS do cash back with Google Pay?

CVS does not offer cash back with Google Pay. Similar to the issue with Apple Pay, because only debit card users are able to get cash back, Google Pay users do not qualify. Google Pay users also cannot take advantage of the Apple Pay perk offered by the Discover Cashback Debit Card.

Does CVS do $10 cash back?

CVS lets customers redeem $10 cash back on their first in-store purchase of $20 or more using either PayPal or a Venmo QR code. Additionally, CVS has a $35 cash-back limit in a variety of denominations, so debit card users can get $10 cash back at CVS stores just by making a purchase.

Does CVS do cash back with debit cards?

CVS only offers cash back to debit card users. There is a $35 limit and no minimum purchase required.

Key takeaways

  • CVS is an American pharmacy and retail store that has nearly 10,000 locations in 49 states and sells common household items and groceries in addition to pharmacy and wellness products.
  • Cash back is available at CVS stores, with a $35 limit per transaction. Regular debit card users can get cash back on every transaction with no fee or minimum dollar amount, although you do have to make a purchase.
  • Credit cards, Apple Pay, and check users cannot get cash back at CVS.
  • CVS lets customers redeem $10 cash back on their first in-store purchase of $20 or more using either PayPal or a Venmo QR code.
  • If your debit or credit card offers cash-back rewards, you may be able to earn additional cash back for future purchases.
  • You will have to weigh the benefits of getting some quick cash at the register against the consequences of spending the extra money. Cash-back credit cards have risks and rewards as well.
View Article Sources
  1. Our Company at a Glance – CVS
  2. What is Cashback? – SuperMoney
  3. Rewards Cards – Minimize the Pitfalls, Maximize the Benefits – FDIC