Rakuten Review 2024: Pros, Cons & Tips to Boost Earnings
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We've kept tabs on Rakuten for nearly a decade, accumulating over $1,000 in total earnings in the process. Here's what we like and dislike about the app, tips for boosting your earnings, and whether or not the platform is worth it for you.
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I first downloaded Rakuten in August of 2016 and over the past several years, I’ve accumulated $984.08 in cashback.
At just over $123 each year, that’s good for a free $10 per month I’ve had the app installed. (The average member earned $90.16 in 2023, according to Rakuten).[1]
This review covers my ongoing experience, explores the platform’s advantages and limitations, and assesses how Rakuten compares to other popular cashback apps.
Rakuten Review Summary
Verdict: Comparatively low cashback rates and requires some manual input. Best for in-store shoppers, those likely to refer users, or international users lacking access to other cashback apps.
How It Works: Earn cashback at 3,500+ retailers.
Earning Potential: Approximately $10 per month.
Withdrawal Minimum: $5
Cost: Free
How It Compares: Legitimate, but better options exist.
Our Rating: 3.5 out of 5 stars (see methodology)
What Is Rakuten?
Rakuten is a leading online and in-store cashback platform that offers users a percentage of their money back when they shop at participating retailers through the Rakuten website, app, or browser extension.
Originally known as Ebates, the company rebranded to Rakuten in 2014 after being acquired by the Japanese e-commerce giant Rakuten Group.
The platform is partnered with thousands of stores, including major brands across a wide range of categories such as electronics, clothing, and travel.
Rakuten boasts over 20 million members and has paid out over $3 billion to members since 1999. They currently hold a B rating with the Better Business Bureau (BBB) and an Excellent 4.4-star rating with Trustpilot.
How Rakuten Works
Rakuten provides a straightforward way for shoppers to earn cash back on their online and in-store purchases.
Users simply need to sign up for a free account and shop as they normally would through Rakuten’s links at partnered retailers. Qualifying purchases will net a user the advertised cash back amount.
This cashback is then automatically paid out quarterly, provided the user has accumulated at least $5.
Main Features
For a closer look at these features and to hear about my experience with each, toggle through the tabs below.
I’ve included practical insights and tips to help you maximize your earnings.
Rakuten offers users a way to earn a percentage back on their spending, both online and in-store, at thousands of participating retailers.
Shoppers simply start their purchasing process through Rakuten’s website or app to automatically receive cash back, which is deposited into their Rakuten account.
The Rakuten mobile app allows you to shop and earn cash back directly from your smartphone, offering all the deals you’d find on the full website.
It’s designed to make shopping on the go as rewarding as shopping online, complete with notifications for hot deals and special offers.
The Rakuten Cash Back Button is browser extension automates the process of earning cash back and applying coupon codes when you shop online.
Once installed, the button discreetly sits in your browser toolbar, alerting you to available cash back and coupon offers on participating websites without the need to visit Rakuten first.
Rakuten also offers cash back for in-store purchases, broadening its appeal to those who prefer shopping at physical stores.
By linking your credit or debit card to your Rakuten account, you can activate offers before you shop and earn cash back automatically when paying with your linked card at checkout.
Rakuten regularly introduces rotating special offers, including events like Double Cash Back, which can significantly boost the amount of money users earn.
These promotions are often timed around major shopping periods such as the holidays, back-to-school season, or Black Friday, allowing users to maximize their savings when it’s most beneficial.
Rakuten incentivizes users to introduce new members to the app by offering cash bonuses for each referral who signs up and makes a qualifying purchase.
This feature can significantly increase the earnings of Rakuten users, adding an extra layer of benefit to using the platform. It’s an easy way to share the perks of Rakuten while also boosting your own cash back total.
+ Jump back to Features
Tips for Maximizing Earnings
Maximizing your earnings with Rakuten involves a strategic approach to shopping and making use of all the features the platform offers. Here are several effective ways to ensure you get the most out of your Rakuten experience:
- Shop During Special Promotions: Keep an eye on Rakuten’s special promotions, such as double cash back events or holiday specials, which can significantly increase the cash back rates at select retailers.
- Use the Browser Extension: Installing the Rakuten browser extension ensures you never miss cash back opportunities you’d otherwise have forgotten about. The extension alerts you to available coupons as well.
- Activate In-Store Offers: Before you shop in person, check Rakuten for any in-store cash back offers. Link these offers to your card within the app to earn cash back on purchases made at physical stores.
- Shop Based on Need, Not Just Want: It’s easy to be tempted by high cash back rates, but to truly maximize the value of Rakuten, focus on purchasing items you need rather than those you simply want. This approach helps prevent overspending and ensures that your savings from cash back are not offset by unnecessary expenditures.
- Stack Coupons with Cash Back: Rakuten often offers coupons that can be used in conjunction with earning cash back. Make sure to apply both to maximize returns.
- Plan Major Purchases: For larger purchases like electronics or appliances, plan to buy during high cash back periods and from retailers that offer the highest rates.
- Refer Friends and Family: Take advantage of the Rakuten referral program. Each successful referral who signs up and makes a qualifying purchase can earn you a substantial bonus, which adds to your total earnings.
- Monitor Your Account: Regularly check your Rakuten account to ensure all cash back credits are accurate and dispute any discrepancies promptly.
Related: How This Frugal Mom Earned $830 With Cash Back Apps
Withdrawing Your Earnings
Withdrawing your earnings from Rakuten is straightforward and is designed to be as convenient as possible for users. Once you’ve accumulated cash back in your Rakuten account, earnings are paid out every three months as long as your account balance is at least $5.
These payments are referred to as “Big Fat Checks” or can be sent as PayPal payments, depending on your selected preference in your account settings. It’s important to ensure your address or PayPal details are up to date to receive your payments without any delays.
| Payment Period | Purchases Made From | Payment Sent On |
|---|---|---|
| Q1 | January 1 – March 31 | May 15 |
| Q2 | April 1 – June 30 | August 15 |
| Q3 | July 1 – September 30 | November 15 |
| Q4 | October 1 – December 31 | February 15 |
To access your earnings, simply log into your Rakuten account and navigate to the ‘My Account’ section, where you can view your accumulated cash back and manage your payment settings. If you choose the check option, it will be mailed directly to the address you’ve provided in your profile.
Alternatively, if you opt for PayPal, the payment will be transferred electronically to your linked PayPal account. Rakuten also provides the option to send your earnings to a family member, friend, or even a charity of your choice.
Related: 18 Best Passive Income Apps to Earn Extra Money
Alternatives to Rakuten
Rakuten faces competition from several well-regarded cashback and rewards platforms. Each offers unique features that appeal to different types of shoppers. Here are Rakuten’s closest competitors:
- Honey: Honey is best known for its automatic coupon-finding browser extension but also offers Honey Gold, a rewards program that can be redeemed for gift cards. Honey’s appeal lies in its ease of use and integration with the checkout process, automatically applying the best coupon to save users the most money.
- TopCashback: Praised for often offering the highest cash back rates due to its policy of returning 100% of the affiliate commission it receives back to its users. TopCashback also features a wide range of withdrawal options, including direct deposit, PayPal, and gift cards.
- Swagbucks: This platform is more than just a cash back site; it allows users to earn points (Swagbucks) for a variety of activities such as shopping online, completing surveys, watching videos, and playing games. Points can be redeemed for gift cards or cash back from PayPal.
- Ibotta: Initially focused on providing cash back for grocery shopping through receipt scanning, Ibotta has expanded to include cash back from online stores, travel, and dining. It’s particularly strong in providing instant rebates on everyday purchases.
| Rakuten | Honey | TopCashback | Swagbucks | Ibotta | |
|---|---|---|---|---|---|
| Cash Back on Online Purchases | Yes | Yes | Yes | Yes | Limited |
| Cash Back on In-store Purchase | Yes | No | No | Yes | Yes |
| Browser Extension | Yes | Yes | Yes | Yes | Yes |
| Referral Program | Yes | Yes | Yes | Yes | Yes |
| Withdrawal Minimum | $5 | 10 points | $0.01 | $25 | $20 |
| Withdrawal Methods | Check, PayPal | Gift cards, PayPal | Direct deposit, Gift cards, PayPal | Gift cards, PayPal | Gift cards, PayPal |
| Payout Frequency | Quarterly | On-demand | On-demand | On-demand | On-demand |
| Sign-Up Bonus | Up to $50 | None | Up to $25 | $10 | $5 |
The Bottom Line
Rakuten shines for shoppers looking for a comprehensive cashback program that rewards both online and physical store shopping. It is a working solution for users who don’t mind the quarterly payments and want a seamless integration of cashback into their regular shopping habits at a wide array of retailers.
However, for those who prioritize higher percentage cashback rates, immediate payouts, or prefer not having a minimum payout threshold, online-only alternatives like TopCashback or Honey might be more appealing. TopCashback offers almost immediate access to your cash with no minimum payout, making it ideal for those who want to withdraw earnings at their convenience.
In conclusion, while Rakuten offers easy-to-use features that cater to a broad shopping spectrum, the best platform for you depends on your specific needs such as payout frequency, minimum thresholds, and whether you do most of your shopping online or in-store.
Related: 20 Best Money Making Apps for Earning On the Go
FAQs
Rating Methodology
To ensure consistency and fairness in our reviews, we apply the same ranking methodology to all similar in-class cashback apps. This approach allows users to accurately compare scores across different platforms, ensuring you can make well-informed decisions based on standardized criteria. Here are the factors we consider essential for assessing Rakuten and its peers, each rated on a scale from 1 to 5.
References
[1] Rakuten. “Online Coupons & Cash Back | Shop 3,500+ Stores!” Rakuten, www.rakuten.com/#:~:text=%2490.16. Accessed 15 May 2024.
