Whether you’re a stay-at-home mom looking to put aside some money in time for the holidays, or a working mom who’d love to stretch her paycheck a little further, the internet is a
minefield of scams that can be tough to navigate. You may have heard of Rakuten, and wondered if it too is a hoax. I discovered the site several years ago, when it was called Ebates. Since then, I’ve received a few hundred dollars’s worth of “Big Fat Checks.” It hasn’t made me rich, by any means, but it’s been easy money, just for buying things my family needed anyway.
How Rakuten works
You create an account, then visit their website before you purchase anything online. Search for the store you want to buy from, notice the percentage of cash back offered, and follow the link to that store’s website. Then you just shop and check out the same way you normally would.
The price you pay for your items won’t change*, but the retailer will pay a commission to Rakuten for referring you to their site. Rakuten will then send a portion of that commission (up to 20% of your purchase price, but usually closer to 1-5%) back to you. The balance should be reflected in your account on the site within a few days.
You can choose to receive either a check each quarter your balance is over $5 (balances under $5 are rolled over to the next quarter), or a PayPal deposit. And that’s it. I’ve never been charged or hassled by the company in any way.
Tips for Maximizing your Cashback with Rakuten
Rakuten runs promotions that change throughout the year, just like a store would. For instance, at the time I’m writing this, you can only earn triple cashback from JCPenney, a 9% rebate compared to the usual 3%. So if you’re planning a big purchase, it may be worthwhile to wait a few days and see if the cashback offered from the store you have in mind will increase.
There are also a few exceptions to the cash back rules. For example, purchases made online but picked up from the store don’t always earn you cash back. Rewards from the purchase of subscription services won’t be applied until the final payment for the subscription is made. Reading the fine print when you select your store from the Rakuten site can help you avoid leaving any reward dollars on the table. I’ve noticed a new option recently that even allows you to earn cash back while shopping in physical stores.
You can easily refer friends or family to Rakuten and earn a credits each time someone signs up and makes a purchase. Even if the other person only uses it for one purchase, they’ll receive a $10 gift card, and you’ll receive $25.
Worst Case Scenarios
*I did once come across a sale price that no longer applied when I accessed my cart through Rakuten. The difference between the two prices was roughly equivalent to the value of the cash back. I wouldn’t have lost money by using Rakuten, but in that case it made more sense for me to shop without it than to pay a more and receive a rebate for the difference. Always check to ensure any sale prices and promo codes have been properly applied before checking out.
I’ve noticed that on some purchases, I can earn more cash back by accessing the retail site through my credit card mall (more on this in a future post). This might also be the case for you if you have a cash back rewards credit card, but it’s always worth comparing the amount with Rakuten’s, just in case.
There are a few retailers I use who aren’t available through Rakuten, but most of them are there, and even 1% back on everyday purchases is worth the extra click when I’m shopping online.
Join Rakuten Today
Signing up is easy, just
click here (Note: this is my referral link. I’ll earn a bonus if you sign up through it, but no referral is required for you to join. You can sign up by visiting Rakuten’s website directly if you’d prefer). Enter an email address and a password, then choose which gift card bonus you’d rather have. Your options are a $10 Walmart gift card, or a $10 Rakuten credit, which you can use toward any purchase you make through the site. You should receive the bonus a few days after you’ve made your first purchase of $10 or more. The only other information Rakuten will ask for is your address or PayPal name in order to send your rebates.
If you haven’t already discovered Rakuten, I hope you’ll join in time to use it for your Christmas shopping. The amount you earn won’t be life changing, but it’s money you wouldn’t have had otherwise, and in my experience, four quarters’ worth of Big Fat Checks can go a long way toward covering holiday expenses.
