This is not a sponsored post. These are my own opinions about Rakuten’s cash back system and to hopefully help someone like myself understand a little better how it works. I do have a referral link (anyone who joins Rakuten will have one) if you sign up using the link and spend $3o we each get a bonus $30 cashback. Occasionally they run specials where the bonus cash back goes up to $40 per referral.
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What is Rakuten Cash Back?
Rakuten Cash Back is a website, app and browser extension where you can shop your favorite stores and earn varying percentages of cash back. If you connect the debit or credit card you typically use to your account you can also earn cash back in store at select stores. The cash that you earn is paid out to you every 3 months no matter the balance by check or to your Paypal account based on your preferences. Rakuten costs nothing to join and you are not paying higher prices for the items you buy. Rakuten is definitely a legit way to earn some cash back that I would definitely recommend
How Rakuten works
Stores pay Rakuten a comission for sending customers to shop at their stores. Rakuten then shares a portion of their commission with their members in the form of cash back. You have to shop the store through Rakuten by either dowloading the browser extension, using the mobile app to open the store you want to shop, or going through Rakuten’s website to reach the store you want to shop. You are shopping the normal stores website so the prices you are paying are not any different.
To join Rakuten you only need to sign up for free using an email address and creating a password. Rakuten is always free, no suprise fees or ‘upgraded’ memberships. Once you have begun a shopping trip with a particpating store using one of the methods mentioned above, you will be notified that cash back has been activated for that shopping trip. Complete your shopping trip as normal and once the store notifies Rakuten of your order cashback will be added to your account.
How often does Rakuten pay?
Rakuten pays out every 3 months. No matter what your cach back balance is, you will either recieve a check in the mail or they will make a payment to your Paypal account depending on which method you choose. Rakuten tracks lifetime earned cashback amount as well as what your next check will be and the date it will be paid out.
Which is better Rakuten or Ibotta?
It had been a little while sinced I used Ibotta so upon doing a little research I learned they had changed up their platform a bit. The last time I used Ibotta it was only cashback on specific products. You had to plan your shopping trip ahead of time, find the items that would earn you cashback and then scan your reciept after your shopping trip to get the amounts earned added to your balance. That method was a lot slower to see your cashback balance add up and also motivated me to buy products I may not have otherwise purchased so it was probably actually costing me money!
Now it looks like they have started to added cash back at various stores for your whole shopping trip similar to Rakuten as well as continuing to offer cashback on specific items. While I still prefer Rakuten over Ibotta you can decide which cashback app works best for you!
How much does Rakuten cost?
Rakuten cost you as the consumer nothing. The app is completely free to download and use and there are no fees at any time. Also a common misconception would be that items are marked up when shopping through Rakuten but you are still shopping through the retailer’s website with all sales and prices the same as if you were not using Rakuten.
Are Rakuten and eBates the same?
Yes, Rakuten was formerly known as eBates. eBates was acquired in 2014 and changed over to Rakuten at that time.
Which is better Rakuten or Honey?
Rakuten and Honey seem to have a lot of similar features now as Honey has added a cash back feature and the Rakuten browser extension does have a feature that will notify you of coupon codes where applicable. I would say Honey is more focused on the coupon codes and does not have as many stores yet that are participating in cash back. In my opinion it would be beneficial to use both when shopping online!
Are Rakuten prices higher?
I’ve stated this a few time previously but no you are not paying higher prices through retailers to get the cash back on Rakuten. Retailers are paying an affiliate income to Rakuten for sales driven there but you are shopping through the retailers website as you typically would so all prices are the same.
Other Benefits of Rakuten
One other feature of Rakuten that I really like is when you are looking at a specific item Rakuten will notifiy you if you could get that item cheaper at another retailer and how much money you would save. Also if you download the browser extension you will get notified when you are on a site that has cash back. I like this because I often forget to use those money saving apps which doesn’t really do you me much good!
I think Rakuten is an easy way to earn money back on your purchases especially when you are trying to be mindful of your budget. Fetch rewards is another rewards app I like for earning points for gift cards when you scan in your reciepts.
Let me know what money saving or budgeting apps you use and love. Connect with me on Instagram, Facebook or by joining my email list!
