Have you ever wondered how much more you could save while shopping at your favorite brands?

With Cheddar, it’s not just about earning cashback; it’s about making every purchase count. To help you make the most of your spending, we’ve introduced a feature called Savings Performance (SP), which gives you a clear picture of how much you’re saving - and how much more you could be saving.

Here’s everything you need to know about SP and how it works.

What Is Savings Performance (SP)?

Savings Performance is a metric that compares your actual savings (the cashback you’ve earned by using Cheddar’s gift cards) to your savings potential (the cashback you could have earned if every eligible purchase you made was through Cheddar’s cashback-generating gift cards).

The result? A simple percentage score that shows how well you’re maximising your savings potential.

How Does SP Work?

Using secure open banking technology, Cheddar analyses your spending patterns across eligible brands.

For example:

• Let’s say you spent £100 at a popular supermarket that offers 5% cashback through Cheddar gift cards.
• If you used a Cheddar gift card, your actual savings would be £5.
• If you didn’t, you missed out on £5 potential savings - but our SP analysis helps you see that potential.

By tracking this data, Cheddar provides insights into where you’re already saving and where you could be saving even more.

When and Where Can I See My SP?

Your SP is updated live and shared in three key ways:

1. In-app: Your SP is always visible as a monetary value of how much you saved, how much you missed, and your total savings potential, accessed from the home tab.
2. Weekly Reviews: Every Friday, you’ll receive an email summarising your SP for the month so far.
3. Monthly Wrap-Up: On the 1st of each month, we’ll review your SP for the previous month, giving you a full picture of your savings habits.

These updates are designed to give you actionable insights and encourage smarter spending.

Why Is SP Important?

SP is more than just a number—it’s a tool to help you take control of your finances. Here’s why it matters:

• Identify Missed Opportunities: Learn which brands you frequently shop at and discover how much you could save by using cashback-generating gift cards.
• Maximise Future Savings: Use the insights from your SP to plan smarter purchases and get the most out of your spending.
• Celebrate Your Wins: Watch your SP improve over time as you become a cashback pro!

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How Can I Improve My SP?

Improving your SP is simple:

1. Check Cheddar First: Before making a purchase, see if the brand is eligible for cashback gift cards.
2. Plan Ahead: Stock up on gift cards for your go-to shops and restaurants.
3. Make It a Habit: The more you use Cheddar, the higher your SP - and your savings - will climb.

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Savings Performance is your ultimate tool to make every pound you spend work harder. By turning missed opportunities into real cashback rewards, Cheddar empowers you to shop smarter and save more.

Start exploring your SP today and see how much further your money can go. Not a Cheddar user yet? Download Cheddar to unlock your savings potential!