In the world of online shopping, getting a deal is always great, but getting cash back on purchases you were already going to make is even better. You may have seen the Rakuten “R” appearing on websites all over the place and ignored it as a popup scam, but I'm here to tell you that they send you big fat checks (their words, not mine).
I signed up to Rakuten and aside from getting a $30 welcome bonus check I got in the mail (yes an actual check, in the actual mail), I've worked out that basically everything I buy online has a small kickback. Here's how it works.
1. Earn Cash Back on Everyday Shopping
Rakuten is one of the internet's oldest and most popular shopping portals, partnering with over 3,500 retailers, ranging from department stores to travel sites and more.
Retailers pay Rakuten a commission for sending customers their way, and Rakuten simply splits that commission with you in the form of cash back. To use it, you simply add the plugin to your browser, and every time you visit one of their partner sites, it pops up and allows you to “Activate X% Cash Back”
Cash back rates typically range from 1% up to 20%+ (so they say, but I've never seen anything more than 10%, one time, normally it's about 1-3%), and these rates frequently get boosted during special events and seasonally.
You can also stack your Rakuten earnings with the rewards you get from your credit card.
2. Choose Your Reward: Cash or Points
Rakuten gives a couple options on how to get your rewards:
Cash Back: The most straightforward option is receiving your earnings as a “Big Fat Check” via PayPal or a physical check, which is sent out quarterly (as long as your balance is over a low minimum).
American Express Membership Rewards: If you're a points and miles enthusiast, you can opt to earn American Express Membership Rewards points instead of cash back, allowing you to save for travel and other reward redemptions.
3. Jump-Start Your Earnings with a Sign-Up Bonus
For new members, Rakuten often offers a significant welcome bonus. While the specific offer changes, you can typically earn a bonus of $30 to $50 (or the equivalent in Amex points) just for signing up through a referral link (oh look, here's mine, what a coincidence) and making a qualifying minimum spend within a set period.
4. Extra Ways to Save
Rakuten is also a little bit of a value add in a couple other ways. You can link a credit card to your account and activate in-store offers to earn cash back at physical retail locations and select restaurants.
The browser extension and app also automatically search for and apply coupon codes at checkout, adding another layer of savings on top of your cash back. Just a note here: If you find a better discount than what Rakuten finds, be sure to do the maths because a better discount sometimes (or nearly always) cancels the Rakuten cash-back as part of their Terms.
Lastly, once you're a member, you can earn additional cash bonuses every time you refer a friend who signs up and makes a qualifying purchase.
If you shop online, it's a no-brainer tool for boosting your savings. I've currently received $242 cash back, which is by no means breaking the bank, but it is better than NOT having $242…
5. Give me some cash-back!
If you'd like to share the love with me, then please do use my referral link for Rakuten here.
