(EXPIRED) Stack Offers For 31.3% Cashback On H&M Gift Cards (Possibly)

Thanks to a couple of temporarily increased card-linked offers for H&M, it might be possible to earn 31.3% cashback when buying H&M gift cards in-store.

There’s absolutely no guarantee that this will work but for some it might be worth a try, especially if you have a few household accounts which allow you to scale the potential deal.

1) Rakuten – 15%/15x

My Rakuten referral link

Rakuten is running Big Give Week where they’re offering 15% cashback (or 15x Membership Rewards if your account is set up that way) at hundreds of retailers – see the full list here.

In most cases the 15%/15x is only available online, but there’s almost a couple of dozen retailers offering that rate for in-store purchases with a linked card – see the full list of in-store offers here.

One of those retailers is H&M. You can therefore make a purchase at H&M with a card you’ve added to your Rakuten account and subsequently linked the H&M offer to. Note that gift card purchases are excluded, but that doesn’t necessarily mean that’s enforced. With a past H&M Amex Offer I linked my Amex card with the H&M in-store offer from Rakuten and the gift card purchase tracked and paid out.

2) Dosh – 15%

My Dosh referral link

As far as I’m aware, Dosh doesn’t run on RCLON (Rakuten Card-Linked Offer Network) which is what Rakuten and some other card-linked programs (e.g. Google Pay, SimplyMiles, etc.) run on.

Provided my understanding is correct, you can also earn 15% from Dosh on in-store H&M purchases by paying with a card linked in the Dosh app.

Something important to note is that in order to earn 15% cashback, you have to tap the offer to boost it (see image above) – otherwise you’ll only earn 1%. There’s a limit of $20 cashback per day which means you’ll max it out when spending $133.33.

I’m not sure if it’s a one-time boost or if you can use it more than once. If you can use it again, you’ll have three days where you can max this out as the boosted rate is due to end on May 12.

3) Bitmo – 0.1%

My Bitmo referral link

0.1% is obviously a minimal amount, but every little counts. Bitmo has a card-linked element to its app; you link a card (or cards) via Plaid and anytime you use that card at retailers for which they sell gift cards in the app, you earn 1x Perk Point per dollar. 1x Perk Point is only worth 0.1%, but that’s 0.1% that requires zero effort beyond linking the card in the first place.

4) Pei – 1.2%

My Pei referral link

When checking the Pei app, I’m seeing a 1.2% earning rate for in-store H&M purchases. I’m not too familiar with Pei – I’ve linked my cards but ignore it otherwise, so I just count any cashback I earn from the app as a bonus. I’m therefore not sure if their offers are regional or if you can earn 1.2% cashback at any H&M nationwide.

Other Possible Earning Opportunities

The US Bank Cash+ card offers 5% cashback in a couple of categories of your choosing. One of those is ‘Select clothing stores’; if H&M is an eligible store, earning an extra 5% would be a good deal.

There’s also sometimes a targeted H&M Chase Offer giving 10% cashback. I don’t seem to have it on any of my cards right now, but seeing as it’s targeted some of you might have it on your cards.

There might be other card-linked apps or sites which you could use. However, note that Google Pay, SimplyMiles, Alaska Airlines shopping portal in-store offers and United Airlines shopping portal in-store offers won’t stack with the opportunities listed above because they all run on RCLON, the same as Rakuten’s in-store offers. You can only earn with one such program and so Rakuten is clearly the best choice due to the 15%/15x rate.

Update: Ram has pointed out in the comments that there’s a Citi Merchants Offer (similar to Amex Offers and Chase Offers) giving $10 back on $50 of spend at H&M. Citi Merchant Offers is a program that’s being rolled out slowly and so not everyone has access to this yet, but it’s another good payment option if you do have the offer.

Scaling The Deal

Dosh’s limit of $20 cashback per day for H&M – and the fact that the boosted 15% rate ends in a couple of days – limits how much each person can take advantage of these stacking opportunities.

However, if you have multiple household members who each have an account with the websites and apps listed above, that increases how many times you can do this deal. Just remember that there’s no guarantee that it’ll all track and/or pay out as hoped for.