In today’s world, where every penny counts, the pursuit of savings has become a common endeavor. While traditional methods like coupon clipping and price comparisons still hold value, the advent of cashback platforms has introduced a new dimension to frugal shopping.
One platform that gained significant popularity for helping users (including ourselves) save money is Rakuten. If you are unfamiliar, Rakuten (formerly known as Ebates) is a cashback and rewards platform that offers a variety of benefits to users in the United States.
In this blog post, we’ll explore the advantages of using Rakuten, along with a few considerations.
Pros of Using Rakuten
- Cashback on Purchases: One of the primary benefits of Rakuten is its cashback feature. Users can earn a percentage of their purchase amount back as cash when they shop through Rakuten’s affiliate links. This cashback can accumulate over time and be withdrawn as real money or used for further shopping.
- Extensive partner network: Rakuten partners with a vast array of +3,500 retailers and brands, ranging from popular clothing stores to tech giants. This diversity allows users to earn cashback on various purchases, making it applicable to various lifestyles and preferences.
- Regular promotions and deals: Rakuten offers special deals and discounts to its users in addition to cashback. These promotions can include limited-time cashback increases, exclusive coupons, and seasonal sales, providing additional opportunities for savings.
- User-Friendly Interface: Rakuten’s website and mobile app are designed to be user-friendly, making it easy for tech-savvy and casual shoppers to navigate. The straightforward interface ensures a seamless experience, from browsing deals to receiving cashback.
- Referral bonuses: Rakuten encourages users to refer friends and family by offering referral bonuses. When a new user signs up through a referral link and makes a qualifying purchase, the existing and new users receive a bonus. This creates a win-win situation for everyone involved. The best option is to redeem your cashback earnings via check, PayPal transfer, gift cards, or membership rewards points (you need to link your Amex card).
Cons of Using Rakuten
- Delayed Cashback: Rakuten is known for providing cashback, but the process is not instantaneous. Users have to wait for a specified period to receive the cashback, and it may take additional time for the funds to be transferred to their account.
- Minimum Payout Requirement: Users can only withdraw their cashback once they reach a minimum payout threshold. For those who make infrequent purchases or small transactions, it may take longer to accumulate enough cashback to meet the minimum requirement.
- Not Universally Applicable: Rakuten’s cashback and rewards are limited to online purchases made through its affiliate links. This means that in-store purchases or transactions made through non-partnered retailers may not be eligible for cashback.
We have been using Rakuten to collect points (our preference is for Membership Rewards [instead of cashback] that can be transferred to our Amex credit card. Below is an example of a transaction from Dell, where we spent $199.90 and received 2,999 Membership Rewards points:
Rakuten can be a valuable tool for individuals looking to maximize their savings while shopping online in the United States. The platform’s cashback incentives, diverse retailer partnerships, and user-friendly interface make it an attractive option for many consumers.
By weighing the pros and cons, consumers can decide whether Rakuten aligns with their shopping habits and financial goals. Ultimately, for those who shop strategically and regularly, Rakuten has the potential to be a rewarding and money-saving experience.
If you don’t have an account until November 30, 2023, by signing up, you will get a $40 bonus. To qualify for a referral signup bonus, you must be a new member and place qualifying orders totaling a minimum of $40 within 90 days of becoming a member. You must be located in the 50 United States, D.C., or Canada to qualify.
Pro tip: Use our referral link to create your account. After that, invite your family and friends using your referral link. Or if you prefer to support us, feel free to use ours. 🙂
Here are some of the Black Friday Deals for 2023:
Another Pro tip: We use 1Password as a vault with our passwords, documents, addresses, etc. The cashback is 27.5%. We also use NordVPN to protect us during our trips. As you can see, the cashback is 85%. By subscribing to these services now, you will save money.