Top perks
Below are a few of our favorite features of Rakuten spelled out in more detail.
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.
Shop at many popular stores
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 give another $30 to the friend if they spend at least $25 within 90 days. 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.
Welcome bonus
There's a $10 welcome bonus for new Rakuten users. You must sign up for a new account and make a purchase of at least $25 through Rakuten within 90 days to qualify. You can track your bonus in your account.
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.
READ MORE: Want to spend less money when shopping at your favorite stores? Check out our list of the best coupon apps.
What could be improved
We haven't found a cash back app that has achieved perfection. Below are the areas we believe Rakuten has some room for improvement.
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