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I've Used Rakuten For 8 Years: Here's My Honest Review

Review Updated
Robin Hartill, CFP
Author: Robin Hartill, CFP
Robin Hartill, CFP
Robin Hartill, CFP
Writer

Robin Hartill, CFP®, is Motley Fool Money’s Head of Product Ratings and has worked for The Motley Fool since 2020. Her work has appeared in various national publications, including NerdWallet and CNET Money. She previously wrote The Penny Hoarder’s syndicated “Dear Penny” personal finance advice column. She is based in St. Petersburg, Florida.

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Natasha Etzel
Reviewer: Natasha Etzel
Natasha Etzel
Natasha Etzel
Writer

Natasha has been a freelance writer since 2015. She specializes in credit card and credit card rewards content. When not busy writing, she's either dreaming up her next credit card rewards redemption or traveling the globe. Her goal is to encourage more people to experience the world around them while making smart financial choices.

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Ashley Maready
Fact Checked: Ashley Maready
Ashley Maready
Ashley Maready
Writer and Editor

Ashley Maready is a former history museum professional who made the leap to digital content writing and editing in 2021. She has a BA in History and Philosophy from Hood College and an MA in Applied History from Shippensburg University. Ashley loves creating content for the public and learning new things so she can teach others, whether it's information about salt mining, canal mules, or personal finance.

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Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures that our product ratings are not influenced by compensation. Terms may apply to offers listed on this page.

I started using Rakuten to score cash back on purchases about eight years ago, back when it was Ebates. I've earned $154.31 since then (mostly from Chewy and Hotels.com purchases) paid out a few bucks at a time each quarter via PayPal.

The app and browser extension haven't exactly made me rich, but it's helped me score a nice amount of cash back on things I'm already spending money on, with very little effort.

Rakuten
Best for: Cash back app for online shoppersRakuten

Pros

  • Free and easy to use
  • High cash back rates
  • Partners with many stores
  • Referral rewards
  • Get paid by PayPal or check

Cons

  • Quarterly cash back payments
  • You must activate offers
  • Not all stores are available
  • Some purchases are exempt

What is Rakuten?

Rakuten is an easy-to-use app that can help you earn cash back on everyday purchases. Each retailer sets its own cash back amounts. Rakuten is an affiliate marketing company that receives a commission from each order made through its retail partners. Rakuten then splits that commission with you.

You can expect to earn at least 1%, but it's not unheard of to earn upwards of 8% or 10%. The app will also show you special dates with even higher cash back earnings at eligible retailers. Formerly known as Ebates, Rakuten has more retail partners than other cash back apps, making it a cash back enthusiast favorite.

If you also use a rewards credit card, you can maximize your earning potential as you'll earn rewards in both ways.

How does Rakuten work?

Download the app and sign up for an account to get started. You can also install the Rakuten browser extension to shop from your computer. You'll see offers from each partner store, usually as a cash back percentage.

Rakuten works with over 3,500 stores, but you must activate available offers before you can use them. Here's how it works:

  • Activate the offer before you shop, whether online or in-store.
  • Shop online, and your cash back earnings will be credited to your Rakuten account.
  • You must link your credit cards or debit cards to your Rakuten account to earn rewards when you shop in-store. This is how your purchases are tracked.
  • It may take a few days for earnings to appear in your account.
  • Cash back is paid out quarterly by check or via PayPal.

What I like about Rakuten

Free and easy to use

It doesn't cost anything to be a Rakuten member. It's free and easy to set up an account. Once you've done that, all you need to do is activate the offers and shop as you usually would. It's that simple. There are no confusing steps to go through to earn cash back rewards.

One thing that makes Rakuten stand out is its wide range of partners. In contrast to other cash back apps with limited retailer options, the Rakuten app features a wide variety of stores.

You'll find grocery stores, clothing stores, home improvement stores, electronic stores, pet stores, travel agencies, and many others. Popular retailers include Macy's, Target, Nike, Petco, Expedia, Sephora, and Old Navy. Look for your favorite stores on the Rakuten site.

Shop online or in-store

Some cash back apps only allow you to earn in-store or online -- not both. Rakuten rewards you for both types of shopping, which gives you more opportunities to increase your cash back earnings. Just make sure you link your credit and debit cards to your Rakuten account before you shop in-store.

Earn referral rewards

Rakuten will currently pay you $30 if you refer a friend and they spend at least $30 within 90 days. Your friend will earn a 10% cash back boost.

If you find Rakuten saves you money and helps you meet your personal finance goals, why not share it with your friends and family? The exact referral bonus may change, but your friend will generally need to make a minimum purchase within a set amount of days to qualify.

Multiple ways to get paid

Rakuten gives you more than one way to get paid. Sadly, it won't deposit your money directly into your bank account, but you can receive your cash back rewards by check or to your PayPal account. Check payments will be mailed to you for free.

Compare savings rates

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Account APY Promotion Next Steps
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Min. to earn: $0
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up to 4.00%²
Rate info Circle with letter I in it. You can earn the maximum APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.
Min. to earn: $0
New customers can earn up to a $300 bonus with qualifying direct deposits!¹
3.80%
Rate info Circle with letter I in it. See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of Dec. 6, 2024. Rates are subject to change at any time before or after account opening.
Min. to earn: $0
N/A

What could be improved

Cash back is paid out quarterly

You'll need to wait a while to receive your Rakuten cash back earnings. The payout schedule is quarterly; you get paid about six weeks after each period ends.

There's a minimum redemption of $5.01 -- if you earn less, the money will remain in your account until the next payment date. If you're looking for instant cash back or want to receive your earnings more frequently, Rakuten may not be for you.

Payment dates are as follows:

  • Feb. 15
  • May 15
  • Aug. 15
  • Nov. 15

Offers must be activated

Some cash back apps allow users to earn cash back automatically. With Rakuten, you must first activate an offer. This is easy to do, but you won't earn those rewards if you forget.

Not every store is available

Rakuten partners with about 3,500 retailers, but it doesn't have deals with every store. You may find you can't earn cash back at some of your regular stores.

Some store purchases are exempt from rewards

When you use Rakuten, you'll notice that some offers have exemptions. Certain items may not be eligible for cash back rewards -- meaning you won't always earn cash back on your entire shopping trip. Review all offer terms so you know what to expect before you shop.

How much does Rakuten cost?

Rakuten is free for customers. It's an affiliate marketing company that receives a commission from each order made through its retail partners. Rakuten then splits that commission with you.

Rakuten online ratings

Online reviews praise Rakuten as an easy-to-use tool, though some reviewers say they've found higher cash back elsewhere. A few users report scoring significant cash back -- to the tune of hundreds or even thousands of dollars -- by purchasing big-ticket electronic items using Rakuten.

However, several reviewers report they had difficulty collecting on their cash back or that they didn't receive the cash back rate they were promised.

Here's how users rate Rakuten's mobile app:

  • iOS app rating: 4.8 stars
  • Android app rating: 3.6 stars

Rakuten platform

Rakuten is simple to use, whether you're using the app or browser extension. You can activate offers using the app with a single click and start shopping on the retailer's website. If you're using the browser extension, you'll see cash back offers pop up automatically when you're shopping online.

Rakuten app home screen

Rakuten app home screen. Image source: Rakuten, captured by author.

Rakuten "activate cash back" popup on retailer website.

Rakuten "activate cash back" popup on retailer website. Image source: Athleta, captured by author.

Is Rakuten safe?

Rakuten uses standard security protocols, like encryption, to keep your personal information safe. It complies with the Payment Card Industry Data Security Standards, a set of guidelines for handling credit card information that's required by major payment networks.

Just keep in mind that Rakuten collects a lot of information about you, your browsing, and your shopping to provide you with deals. Make sure you're comfortable with the trade-off of letting them track your habits in order to save money.

Alternatives to Rakuten

If you want an app that applies discounts at checkout: Capital One Shopping automatically searches for coupon codes when you shop online, allowing you to save money immediately. With Rakuten, you'll have to wait until the quarterly cash back payout to get your savings.

Capital One Shopping
Best for: Cash back for online purchasesCapital One Shopping
Apply now! for Capital One Shopping

If you want an app that offers higher cash back rates: Upside provides up to $0.25 per gallon cash back on gas, up to 45% back at restaurants, and up to 30% back at grocery stores -- but the catch is, you have to act quickly since many offers expire in four hours.

Upside
Best for: Cash back on everyday purchases, like gas and groceriesUpside
Apply now! for Upside

Rakuten might be right for you if:

  • You want to earn cash back on purchases
  • You frequently shop at the retail stores Rakuten partners with
  • You're OK with only receiving cash back each quarter
  • You won't let a cash back deal tempt you to make unnecessary purchases

FAQs

  • No, Amazon is not a Rakuten partner. While not every retailer partners with Rakuten, many do. It's likely that some of the brands that you shop with offer cash back rewards through Rakuten.

  • There is little downside to using Rakuten. If you're already shopping, you might as well earn cash back rewards. However, Rakuten follows a quarterly payment process. That means you'll have to wait several months for your next cash back payout. Other cash back apps allow you to cash out your earnings more frequently.

  • If you shop regularly, using Rakuten could be well worth your time. The more you shop, the more chances you have to earn cash back rewards. Since Rakuten is free to join, it's worth giving this cash back app a try to see if it's a good fit for you.