{"id":19045,"date":"2024-02-09T16:20:33","date_gmt":"2024-02-09T16:20:33","guid":{"rendered":"https:\/\/www.webmonkey.com\/bumped-app-review-is-it-legit-worth-using\/"},"modified":"2024-05-27T13:18:35","modified_gmt":"2024-05-27T13:18:35","slug":"bumped-app-review","status":"publish","type":"post","link":"https:\/\/www.webmonkey.com\/bumped-app-review\/","title":{"rendered":"Bumped App Review – Is It Legit & Worth Using?"},"content":{"rendered":"
There are so many cashback rewards apps<\/a> out there and passive income apps<\/a> you can use to turn your phone into a money-making device.<\/p>\n However, all of these reward platforms have one limitation: your rewards don't have any long-term benefits<\/strong>.<\/p>\n Sure, earning some extra cashback or free gift cards is always nice…but if there was a way for those rewards to grow over time, wouldn\u2019t that be more ideal?<\/p>\n Thankfully, thanks to the Bumped app, it's now possible to shop and earn free stock from your favorite companies<\/strong>, no strings attached.<\/p>\n If you want to learn about this new and exciting FinTech company, be sure to read our Bumped app review until the end!<\/p>\n UPDATE: <\/strong>Bumped has officially shut down.<\/p>\n Want other awesome passive income ideas? Checkout<\/strong>:<\/p>\n Bumped is a free app available for Android and IOS that offers rewards in the form of stock ownership when you shop at participating brands.<\/p>\n Basically, Bumped is like any rewards program, except you gain stock instead of loyalty points or cashback<\/strong>.<\/p>\n <\/p>\n Founded in 2017, Bumped has grown with 2 main goals in mind.<\/p>\n First, everyone deserves to be an owner, whether you\u2019re a beginner or not. Second, your rewards deserve to grow over time.<\/p>\n With a rewards model like this, you\u2019re getting more than just a cashback system.<\/p>\n Bumped lets you accumulate different stocks, which is awesome if you're learning how to invest<\/a> and want to start building wealth.<\/p>\n Now, you might think this is too good to be true. However, the Bumped app is pretty straightforward, and getting started is incredibly easy.<\/p>\n From start to finish, Bumped works in a simple 5-step process that doesn't cost any money or even much of your time.<\/p>\n Time to break down how Bumped works!<\/p>\n Bumped used to have a waitlist to join. But it's now available to everyone, so you just need to download the app and signup with your email address to create an account!<\/strong><\/p>\n Once you create an account, you can then sign up for a Bumped brokerage account<\/strong>.<\/p>\n Bumped Financial LLC is the entity behind your Bumped brokerage account and this is the only way to use the app.<\/p>\n <\/p>\n Note that in order to be eligible, you must be at least 18 years old with a U.S. citizenship or permanent residency. You also provide your SSN, name, address, and photo verification to create your brokerage account.<\/p>\n This might sound like a lot of work, and it's certainly an extra step compared to apps like Drop.<\/p>\n However, if you want to earn free stock, it's definitely worth it.<\/p>\n Once you signup for Bumped, you're prompted to link a debit or credit card of your choice in order for Bumped to track your spending at eligible brands.<\/p>\n This is the same process apps like Drop<\/a> and Pogo<\/a> use to keep things automatic. Once you link your cards to Bumped, you don't have to lift a finger to start earning stock rewards.<\/p>\n Here\u2019s how to link your card with Bumped<\/strong>:<\/p>\n <\/p>\n That\u2019s it! You can link your cards to the Bumped app in just a few minutes.<\/p>\n The same steps apply if you want to link a checking or savings account in order to withdraw your rewards.<\/p>\n You can link as many cards as you like. Bumped has a quick guide on how to link your cards if you need assistance.<\/p>\n Update: 2021\/03\/17 <\/strong>– I'm editing our Bumped app review because Bumped has undergone a massive change to how you earn free stocks with the app.<\/p>\n Bumped used to let you pick brand partners from 16 different categories to earn free stock from. You could choose 1 brand per category to earn from.<\/p>\n This included categoies like dining, superstores, telecommunications, and ridesharing apps.<\/p>\n However, Bumped now lets you earn free stock at four companies of your choice through their loyalty rewards program.<\/p>\n <\/p>\n These picks work like the old version of Bumped…just pick your companies, shop at them, and earn fractional shares.<\/p>\n Examples of companies you can pick for loyalty rewards include<\/strong>:<\/p>\n There's dozens of other options, so don't fret!<\/p>\n When you shop for the brands that you selected in your account, you earn stock rewards. These rewards take around 2-5 business days to show up after your bank has finalized the purchase.<\/p>\n Most companies pay 1% to 5% cashback in the form of free stocks <\/strong>according to Bumped, although rates are subject to change.<\/p>\n So, if you spend $100 at Walmart, you would earn $1 in free Walmart stock.<\/p>\n This might not sound like much, but when you factor in the 16 categories, you can definitely earn $100-$200 or more<\/strong> per year in free stock just for using the Bumped app.<\/p>\n Plus, Bumped stacks with reward apps like Pei<\/a> and Drop, and often credit card rewards as well. This means you can actually recoup a nice portion of your annual spending without having to change your shopping habits.<\/p>\n\n
\nWhat is Bumped<\/strong>?<\/strong><\/h2>\n
How Does Bumped Work?<\/strong><\/h2>\n
1. Sign Up For Bumped<\/strong><\/h3>\n
2. Link Cards<\/strong><\/h3>\n
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3. Earn Bumped Loyalty Rewards<\/strong><\/h3>\n
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