Is Rakuten Legit? 2024 Review of Rakuten Cashback & User Experience

What is Rakuten?

Rakuten is a cashback service that offers its users the chance to earn up to 40% cashback when they buy products through them. They also offer coupons and discounts that you can use in addition to the cashback.

You might be thinking this sounds familiar. If so, you’d be right! The service used to be called eBates, but was acquired by Rakuten in 2014 and took its new parent company’s name. They still offer the same great deals as before and have worked hard to update the website so that you can more easily save money.

How Does Rakuten Work?

Joining is very quick, easy, and absolutely free.

Here’s how:

• Step 1: Visit Rakuten.com and click the “Join Now” button.
• Step 2: Submit your email address and a password. You can also join using your Facebook, Google, or Apple account.
• Step 3: Start shopping and earning cash back!

Once you’ve signed up, there is no waiting period for account approval or any of that nonsense. You can start shopping and earning cash back the moment you sign up.

And don’t forget to add your PayPal account to your profile so you can accept cash payouts from the site.

Rakuten Welcome Bonus

This might just be one of the most popular features of this already popular cashback site. As soon as you sign up, they give you a $10 welcome bonus.

No matter which option you choose, signing up gets you the choice of either an automatic $10 credit on your account or a $10 gift card to Walmart.

Rakuten App

You might be asking yourself: is the app worth downloading?

In addition to its website, the company has an app available for both Android and iPhone. The website is great if you’re a big online shopper, but the app is essential if you want to shop at actual brick-and-mortar stores.

Additionally, if you’re done shopping and need a bite to eat, you can use the app to get 5% cashback at more than 10,000 different restaurants.

Rakuten Stores

The number of stores that have partnered with the company is impressive, to say the least.

According to the company, you can currently earn cashback at over 2,500 stores online. So no matter what you are shopping for, chances are the store you want to buy from is on that list.

To give you an idea, here’s a sample list of stores that work with Rakuten.com:

• Amazon
• Walmart
• Target
• Kohl’s
• Ace Hardware
• Nordstrom
• Macy’s
• TurboTax
• Bath & Body Works

They have stores in all the major shopping categories, including travel, hotel, auto, books, clothing, sports and outdoor, beauty supplies, and more.

How Much Cashback Can I Earn?

You can earn a LOT of cashback from online stores, actually. The site advertises up to 40%, but as of this writing, there are sites on Rakuten where you can earn up to 60% cashback. That’s more than half your money back!

Currently, the top offerings are:

• e-File – 28% cashback
• The New Yorker – 30% cashback
• TaxSlayer – 37.5% cashback
• Ladder (sports nutrition) – 40% cashback
• Norton Antivirus – 40% cashback
• McAfee – 40% cashback
• Kaspersky – 40% cashback
• Joy+Glee – 40% cashback
• NordPass – 50% cashback
• LifeLock – 60% cashback, plus a coupon for 25% off your first year.

What’s the Catch with Rakuten?

One limitation of using Rakuten is that the cashback offers and discounts are from specific stores. You aren’t able to shop everywhere.

Another catch is that you have to shop through their site or through the app to get cashback. If you forget or click on the wrong link, that’s money down the drain.

You have to be careful when you shop if you are trying to use this service to save money. If you take the time to shop at the right stores and remember to click the shopping link Rakuten provides, you should be fine.

Other Ways to Earn Money with Rakuten

There are several additional features and tools you can use to make even more money.

In-Store Shopping

Another hugely underrated feature of the site is its In-Store Cash Back feature.

That’s right, you can also earn cashback shopping in person at select stores, just like you do online.

Here’s how:

• Log in to your account or open the app and activate the in-store offer.
• Link a credit card to your account so it can track your purchases.
• When at the store, use the same credit card to pay for your purchase.

Once the store confirms your purchase (which can take a few hours or days), your account gets credited with the appropriate cashback amount.

Wanna earn even more cashback?

Use one of your credit cards that gives you cashback or rewards for using it. That way, you get cashback from your credit card company and cashback from Rakuten (more on that later!).

Double Cash Back

First, check out the Double Cash Back tab.

There is a section on the site named “Double Cash Back Stores.” In this section, you’ll find a list of stores that offer more cashback than they usually do. For example, Dick’s Sporting Goods usually offers 1% cashback, but at the time of writing this post, they are offering 5% cashback.

Here are a few more examples:

• 5% cashback at Amazon.com
• 4% cashback at Banana Republic
• 7% cashback at Avenue
• 6% cashback at Barneys New York

The stores in the Double Cashback section change from day to day, so be sure to check back often so you don’t miss out on extra cashback.

Refer-A-Friend Bonus

Like with rewards on most sites, referring friends also earns you extra cash.

Rakuten has (I believe) one of the most generous referral programs.

For every friend you invite who joins and spends $25, you will get $25, and your friend gets $10. It’s a win-win situation!

And the more people you refer, the more bonus you earn.

For example:

• 1 referral gets you $5 + $20 bonus = $25 in total
• 2 referrals get you $10 + $40 bonus = $50 in total
• 100 referrals get you $500 + $1,500 bonus = $2,000
• 1,000 referrals get you $5,000 + $20,000 bonus = $25,000

As you can see, you can earn up to $25,000 each year in referral bonuses.

To get your unique referral link, visit the Refer-A-Friend page. Then send that link to your friends via email, text message, or social media.

How Does Rakuten Pay You?

The company pays its users in two ways:

• PayPal
• Check (they call it “Big Fat Check”!)

There is a $5 minimum requirement for cashing out, meaning you need to have at least $5 in earnings to request a payout.

Once you have $5 in your account, you can choose whether you want to be paid via PayPal or Check.

You can select your payment method under your Account Settings.

The Rakuten Payment Schedule

Now, there is one downside to their payment system.

If you have been using rewards or other similar cashback sites, you are probably familiar with the standard payment system. There is a minimum requirement, but once you hit that minimum, you can request a payout as many times a year as you like. There is no limit to the number of times you can request payment, provided you’ve met the minimum cashout requirement.

Rakuten, however, has a limit. It only pays you quarterly. Every three months, they’ll either mail you a physical check or send the balance to your PayPal account (whichever you choose).

Here’s the Payment Schedule:

This is a bummer for those of us who like fast or instant payout surveys and rewards sites, but there is actually an upside to this. You get 3 months to accumulate your earnings, so once you get paid, you receive a big lump sum instead of just a few dollars here and a few dollars there.

To ensure you receive your cashback payment, take a moment to add your mailing address to your account. This is especially important if you like to get paid via check, but the company says it is also important for PayPal payments. Your mailing address is also used to send you tax forms at the end of the year, assuming you earn more than $600 with them in a given calendar year. And depending on how much you shop online, earning $600 in cashback is not that hard!

To add or update your current address, go to your Account Settings. (In the app, go to “Choose How to Get Paid.”)

How to Increase Your Earnings

If you think of this site just as another cashback site that earns you a little cash back on every purchase, you are going to miss out on a lot of money.

There are actually many ways to earn more than the standard cashback offered.

Here are a few tips to do just that.

Earn an Extra 3% Cashback with Rakuten Visa Credit Card

One of the easiest ways to increase the amount of cashback you earn from the site is by using the Rakuten Visa Credit Card. With this card, you earn an extra 3% on top of what you already earn on every purchase you make.

Plus, you’ll receive a $10 cashback bonus after your first purchase with the card.

If you plan on using Rakuten as your main cashback site, it makes sense to get their Visa Credit Card.

This card has many other benefits as well. You can learn more about it and apply for the card here.

Book Your Travel Through Rakuten

Most people think cashback sites only give you rebates for buying physical goods online (books, clothes, electronics, etc.), and they are correct when it comes to most cashback sites. But Rakuten is different. It even gives you cashback for booking your travel through them.

You can earn cash back for booking:

• Flights
• Hotels
• Rental Cars
• Vacation Rentals
• Cruises
• Things to Do
• Etc.

The amount of cashback you get varies based on each company.

Examples include:

• VRBO: $10 cashback
• HotWire: 3% cashback
• Priceline: 4% cashback
• Expedia: 3.5% cashback

To book a travel-related event, click on the “Travel & Vacation” tab on the homepage. Then search for the company you want to book with, click on the link to visit the website, and then book as you normally would. A few days later, your account will be credited with the appropriate amount of cashback.

Buy Gift Cards from Rakuten

Here’s a simple way to increase what you earn:

Go through Rakuten and buy a gift card for a store you want to shop at so you earn cashback for that gift card.

Then shop at that store through Rakuten, paying with your gift card to earn cashback for that purchase.

Install the Rakuten Button

If you have a hard time remembering to visit Rakuten before shopping online, install their free browser add-on.

Once you install and activate this browser extension, it will alert you when a site you are shopping on is eligible for cashback. It’s an easy way to never miss out on any cashback.

The browser add-on is available for Chrome, Firefox, and Microsoft Edge. To get yours, go to rakuten.com/button.

Rakuten Hacks

There is an easy way to double, triple, or even quadruple what you earn from the site.

Here’s how:

Let’s say you want to buy something on eBay and you have a Target RedCard (or any other credit card that gives you cashback).

• Step 1: Use your card to buy an eBay gift card from Target. Your RedCard will get you a 5% discount right there. But instead of going directly to Target.com, log in to your Rakuten account and visit Target.com through it. That way, you earn 1% cashback from Rakuten as well.
• Step 2: Then, use that gift card to buy what you wanted on eBay, making sure you again go through Rakuten first, which gets you an extra 5% cashback on eBay purchases.
• Step 3: Enjoy all that extra cash you just earned by thinking outside the box!

You can use this method with other rewards and cashback credit cards as well.

How Does Rakuten Work with Amazon?

If you’re like me and shop on Amazon often, you’re probably wondering if Amazon is on Rakuten and whether you can earn cashback on Amazon purchases.

Well, up until last year, you could. In fact, you could get decent cashback for Amazon purchases in different categories such as:

• Clothing: 3.5% Cash Back
• Handbags & Wallets: 3.5% Cash Back
• Luggage: 3.5% Cash Back
• Shoes: 3.5% Cash Back

Unfortunately, that all changed in March 2020.

So why isn’t Amazon on Rakuten anymore?

Here’s what the company says:

“Please note: on March 20, 2020 Amazon transitioned from offering Cash Back on certain categories to offering Coupons Only. We realize the news of Amazon not offering Cash Back at this time is difficult. To help ensure you can get the things you need, we have increased your Cash Back rates at over 150 other stores. We are in this together and are hoping Amazon is back soon.”

So to sum it up, as of writing this review, you cannot earn Amazon cashback through Rakuten, but you can still get coupons and promo codes. Hopefully, they’ll bring it back soon.

Now, all is not lost. You can still earn cashback for Amazon purchases. Here are a few other ways to earn Amazon cashback on your purchases.

How Does Rakuten Make Money?

This might sound like it’s too good to be true. After all, why would a site like this offer you money?

It’s simple, really. Rakuten is an affiliate marketing company that makes money by earning commissions from online retailers for sending them customers. You can think of an affiliate marketing company as a sort of online middleman.

Every time somebody goes through Rakuten to shop at any store, that store gives Rakuten a percentage of what the shopper spends at their store/website. Rakuten then uses some of that money to pay you, the shopper.

So in reality, it is a win-win situation for both you and Rakuten. You’re both making money off companies that need the advertising that Rakuten provides.

Alternatives to Rakuten

Here’s the thing…

While Rakuten offers some of the best cashback percentages on the internet, it doesn’t offer the best rate for every single online store. That’s why having a few alternative cashback sites as backups is important to ensure you always get the most cashback.

Thankfully, there are a few great sites like Rakuten that offer the same kind of cashback (and in some cases even higher amounts), as well as discount codes that will get you the best deals on the internet.

Here are two sites similar to Rakuten that I think are the best alternative cashback sites:

WikiBuy

WikiBuy is somewhat new to the scene. It is a product of Capital One, so you know they put a lot behind it.

WikiBuy is a free browser extension that helps you save money automatically by always finding the best price for thousands of items (even on Amazon).

You don’t have to lift a finger! Once you install the WikiBuy add-on, every time you are shopping online, it automatically searches all the coupon databases and finds and applies the one that gets you the most savings. It really is easy and simple.

And that’s not all. You can also earn rewards by linking one of your credit cards to your account and using it to pay for qualifying transactions. Rewards are known as WikiBuy Credits, which you can use to get free gift cards through WikiBuy.

You can read my WikiBuy review here for more details and tips on how to get the most out of it.

Note: You don’t have to link a credit card to use WikiBuy for saving money. Linking a credit card is only necessary if you want to earn rewards on top of saving big.

Swagbucks

Unless you’ve been living under a rock, you probably know about Swagbucks. If you’re not using it, you should!

Not only does it pay you for taking surveys, watching videos, playing games, and more, but it also gives you cashback at hundreds of thousands of online stores.

The main difference between the two is that, unlike Rakuten, Swagbucks gives you points that you can redeem for gift cards. Read my detailed Swagbucks review to find out all the ways you can make money with it, plus a quick guide on how to earn your first $758.25 with Swagbucks!

Rakuten Reviews & Ratings

If you’re considering investing your time in a site like Rakuten, it’s best to get a variety of opinions.

Generally, reviews of the site are positive. The Better Business Bureau grades them with a solid “A,” which is better than many cashback sites I’ve seen.

Customers on the BBB’s site have given it a little over 4 stars out of 5 on average. The same goes for Trustpilot, a popular review site, which has an average rating of 4.3 stars for its customer reviews.

This user praised their customer service for its quick response to their problems, stating, “They researched my concern, got back to me in minutes, and totally resolved my issue to my benefit.”

However, other users have had less positive experiences. For example, Adrian W. gave it one star, saying, “After referring my mother, the website initially gave the bonus to us both but soon […] removed the bonus without a comment.”

There are also many reviews from Reddit users who earn cashback with Rakuten. Some users offer great hacks and tips for maximizing earnings.

One Reddit user claims to earn at least $20 a month via Rakuten while making minimal purchases. Another combines Rakuten cashback with other deals to save and earn like a pro.

Most users agree that Rakuten is a great way to earn cashback and discover excellent deals. Some find it particularly useful for paying off holiday debt and adding extra income to a tight budget. Imagine all the cashback you could earn if you did all your Christmas shopping through the site!

Members also love the Coupons section, where you can find great promo codes and deep discounts on hundreds of products and brands.

So, is Rakuten Legit?

Yes, absolutely. Rakuten is not a scam. It is as legitimate of a cashback site as you can find.

Rakuten offers a decent amount of cashback from hundreds of thousands of online and offline retailers. It seems that being acquired by another company hasn’t affected its reliability, which is reassuring.

I highly suggest taking advantage of cashback sites. If you are going to make a purchase, you might as well use a site that gives you some of what you spend back as cashback. It’s essentially free money!

I hope this honest review of Rakuten has helped you decide whether it’s worth it for you. If you have used the site, please leave a comment below and let us know how you rate and review Rakuten.