Rakuten Review – Cash Back Shopping Rewards
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Rakuten is a great way to get cash back — whether you’re making everyday purchases, booking travel, or doing a bit of holiday shopping.
9/10
Cost
9/10
Ease of use
9/10
Services
8.5/10
Features
8/10
Thanks to the COVID-19 pandemic, online shopping has become my norm. No matter what I need, I just hop on Shipt and have it delivered to my doorstep — produce, cleaning supplies, dog food, you name it. Going through an apocalypse-esque few years transformed how I cook, eat, and shop. But convenience is expensive, and my wallet isn’t too happy about it.
So, in hopes of cutting the cost of my bi-weekly Shipt order, I researched the best ways to save money and earn cash back for online purchases. In this Rakuten review, I explain what I learned after discovering Rakuten.
Jump To
What is Rakuten?
Rakuten, which acquired Ebates in 2014, is an innovative affiliate marketing platform that rewards users with cash-back deals and promo codes. According to the Rakuten website, the platform has paid its members $3.2 billion in cash-back offers since 1999.
Since its founding in 1997, Rakuten, which means "optimism" in Japanese, has continued transforming how consumers shop online by providing cash-back deals, discounts, coupon codes, and rewards on various products and services. In addition to its website, Rakuten also has an app and browser extension so shoppers can save money on everyday essentials no matter what device they’re using. What’s more? Rakuten isn’t just for online shoppers — it works for in-store shopping too!
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How does Rakuten work?
Here’s how it works: Rakuten gets a commission each time its members purchase one or more select retailers. Instead of keeping that commission, however, Rakuten shares a portion with said member, and the savings cycle continues.
Rakuten is super simple to use, and if you have an Ebates account, you don’t need to sign up for a new one because they’re the same thing! If you don’t have an existing Ebates account, visit Rakuten.com to get started.
Note: If you have a pop-up blocker or AdBlock extension enabled on your browser, disable it.
Once you reach the bright, purple homepage, click “Join Now.” This button will prompt a pop-up asking you to fill in your email and a password. You can also join using Facebook, Google, or Apple. To make things easier, I chose to “Continue with Google.”
After you fill out the initial sign-up info, you’ll be greeted with another pop-up. This pop-up encourages users to add the Rakuten browser extension to their browser. Doing so is totally up to you, but for the sake of research, I clicked “Add to Chrome.”
If you need help adding an extension to your browser, read this Google Support article for more information on adding an extension to Chrome.
Rakuten offers a welcome bonus to new members who make one or more qualifying purchases totaling $25 a $10. You’ll see this offer in your dashboard. To get to your dashboard, click on the profile icon (you should see your name) in the upper-right-hand corner and navigate to “My Account.”
To earn cash back, you’ll need to make a purchase. You can use the built-in search bar to find the store you want to shop at. As an example, I chose Fabletics. As you can see in the screenshot below, Rakuten is offering up to $7.50 cash back to members who shop at Fabletics.
Click “Shop Now,” Rakuten will redirect you to the brand’s online store. Once you’re finished shopping, a little pop-up will appear in the upper-right-hand corner of the screen. It should read: Your Cash Back is in the works. Check your inbox for updates. In the meantime, tell us where to send your next payment!
Clicking the “Add Address” button will redirect you to the Rakuten website. You can enter your mailing address (if you’d like to receive a paper check for your cash-back rewards) or connect your PayPal account to receive your cash-back rewards electronically. According to the Rakuten site, cash-back rewards take one day to appear on your dashboard. You can check your balance by navigating to “My Account > Cash Back Balance.”
Cash back payments are sent out once every three months based on the schedule below:
Purchased posted between | Big fat check sent |
Jan 1 – Mar 31 | May 15 |
Apr 1 – June 30 | Aug 15 |
July 1 – Sept 30 | Nov 15 |
Oct 1 – Dec 31 | Feb 15 |
If you’re feeling generous, you can use your cash back rewards to give back through Rakuten’s Cash Back for Change program. To do so, go to your dashboard and click the toggle next to the words “Donate my change.” When enabled, the change from your next “Big Fat Check” will be donated to Rakuten’s partner nonprofits.
P.S. The cash-back welcome bonus will be applied to your account within a few hours of your first qualifying purchase.
How much does Rakuten cost?
Rakuten is completely free to use. You don’t have to pay anything to create an account or join the cash-back rewards program.
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Rakuten features
The above tutorial describes how to earn cash back on online purchases, but Rakuten offers its members so much more. Here are a few features that I found particularly useful.
Favorite stores
The “Favorite Stores” tab lists the stores you’ve “hearted” on the site, their cash back percentages, and whether a store offers double cash back. Don’t see your favorite retailer listed? Just type in the name of the store in the search bar and click “Add.” And, presto! Rakuten will add it to your favorites. To remove a store from your list, click the red heart next to the store’s logo.
Note: You may notice that some stores are not listed in the Rakuten directory. Amazon, for example, is not listed, whereas Target and Walmart are.
In-store cash back
If you're not into online shopping, Rakuten has an In-Store Cash Back feature. To use it, go to Rakuten.com on your phone (or you can download the Rakuten app available for Android and Apple devices), find the offer you’d like to use, and click “Link Offer.” This button will prompt you to enter your credit or debit card information. Once your card is linked, you’re ready to shop in-store. Just use the same card info to pay for your in-store purchase.
Important note: If you’re using a debit card, select “Credit” at checkout. According to the Rakuten website, this is the only way to track your cash-back rewards for in-store purchases. For more information on how to make the most of your in-store cash-back rewards, visit Rakuten.com.
Who is Rakuten best for?
Couponers and everyday shoppers
Rakuten is for anyone 18 or older who wants to save money on everyday purchases. If you like getting free money, Rakuten is for you!
Who shouldn’t use Rakuten?
Anyone who’s under 18 or uncomfortable giving out personal information
To use Rakuten, you need to be 18 or older and comfortable shopping online or inputting your credit card information into the Rakuten app. If you’re uncomfortable doing either of those things, Rakuten isn’t for you.
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Pros and cons
Pros
- User-friendly. Rakuten is super user-friendly and easy to access through the Rakuten website, mobile app, or browser extension. All you have to do is create an account and go shopping!
- Multiple ways to save. Rakuten offers cash back rewards for both in-store and online purchases. Plus, there are more than 3,500 stores and companies listed on the site, which means you’re almost guaranteed to find one of your go-to’s. Popular retailers include Macy’s, Target, and Best Buy.
- Cash back rewards on gift cards. In addition to getting cash back from select retailers, Rakuten offers cash back on gift cards too!
- PayPal or check. Rakuten lets you choose whether you’d like to receive your cash back rewards via PayPal or a paper check.
- Travel and vacations. Rakuten is the perfect way to save on travel and vacation purchases as well. The company features hundreds of discounts on hotel reservations, tourist attractions, and plane tickets.
- Referrals. Rakuten has a Refer-A-Friend Program that gives members a chance to share the savings with others. Invite your friends and family via a special referral link, have them join and spend $30, and then you’ll each get a referral bonus of $30!
- Influencer program. If you end up loving Rakuten, you can post about your love on social media as a Rakuten influencer and get paid for it! In addition to getting a flat fee for each person who signs up, you’ll also receive special influencer perks including exclusive cash bonuses, swag bags, and more.
Cons
- Payments come once every three months. Rakuten sends members their cash back rewards via PayPal or paper check once every three months. For some, this may be too long to wait.
- You have to spend money to make money. As the old saying goes, you’ve gotta spend money to make money. With Rakuten, users only receive cash back when they make a qualifying purchase. This could become a problem for people who have a tendency to overspend.
- Notifications. If you’re not a fan of newsletters or emails that are loaded with coupons, you’ll need to unsubscribe from the Rakuten mailing list via your Rakuten dashboard.
Rakuten vs. competition
Platform | Welcome bonus | Payment method |
Rakuten | $10 | PayPal, check |
Ibotta | $5 | PayPal, bank transfer, gift cards |
SwagBucks | $10 | Cash, gift cards |
Ibotta
Ibotta is a free cash-back rewards and payments app that gives shoppers cash back for everyday purchases whenever they shop through the app or browser extension. Ibotta partners with 2,700+ brands and retailers and, according to the company’s website, has paid out more than $1.6 billion in cash rewards since 2011. Ibotta is better for grocery rebates — so if you have a large family and you like to cook, you may want to look into downloading Ibotta as well.
SwagBucks
SwagBucks is a web-based reward-earning program that lets users complete various internet-based activities in exchange for SwagBucks rewards of SBs. Users can redeem SBs on select SwagBucks shopping platforms, as gift cards, or by making a cash transfer to their PayPal account. SwagBucks also has an easy sign-up process, a referral program and offers cash back rewards.
FAQs
Is Rakuten legit?
While this platform may seem too good to be true, Rakuten isn't a scam. Rakuten currently holds a B rating from the Better Business Bureau (BBB).
How does Rakuten make money?
Rakuten makes the bulk of its money via affiliate marketing. When you buy something using Rakuten, the retailer pays Rakuten a referral fee. Then, Rakuten shares a portion of its profit with you!
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Is Rakuten legit?
Rakuten is a great way to get cash back — whether making everyday purchases, booking travel, or doing holiday shopping. Even if you don’t do a lot of shopping, online or otherwise, Rakuten is free, safe, and, in my opinion, totally worth the download.
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Writer
Tabitha Britt is a New York-based freelance writer and editor whose work has appeared on INSIDER, the Huffington Post, and Taste of Home. When she's not glued to her computer screen, she can be found walking her beloved pooch, Biscuit.
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