Rakuten and RebatesMe are two of the most popular cash back apps to use when shopping online.
Both platforms operate in Canada and the U.S., and their competitors include other money-saving apps like Drop and Checkout 51.
This Rakuten vs. RebatesMe comparison covers how they work, their differences, similarities, pros, cons, and which one to choose when next you are shopping online.
What is Rakuten?
Rakuten
$30 sign-up bonus when you spend at least $30
Earn up to 40% cashback
Features 3,000 stores and retailers
Redeem earnings by PayPal & check
Rakuten is a cash back shopping portal that offers discounts, deals, promo codes, and more to users when they shop online at their favourite stores.
Formerly known as Ebates, Rakuten has partnerships with over 750 stores in Canada and over 3,500 in the U.S.
As per its website, it has paid out over $3.7 billion in cash back rewards to members since it was launched in 1997 (U.S. platform) and more than $100 million to Canadian members since it launched in 2012.
How Does Rakuten Work
Rakuten simplifies the process of earning cash back rewards online.
After signing up ($30 bonus) you should log in to your Rakuten account whenever you want to purchase things online.
Click on your preferred store on your Rakuten dashboard and shop as usual after you are re-directed to the retailer’s website.
Cash back is automatically credited to your Rakuten based on the offer available.
For example, if you are buying an item at Walmart and the retailer is offering a 5% cash back, this discount will be paid to your balance as real cash.
Cash back offers on Rakuten can be as high as 30%, and many popular stores are featured (think Canadian Tire, Walmart, Old Navy, H&M, Shoppers Drug Mart, Hudson’s Bay, etc.)
What is RebatesMe?
RebatesMe
Earn cash back on online purchases
Over 4000 stores available
$30 bonus after earning $10
Redeem earnings via gift cards or PayPal
RebatesMe is a cash back and coupon site for finding deals and promotions online.
This platform features over 4,000 stores and recently expanded its operations to Canada.
RebatesMe does not appear to have dedicated mobile apps for the Canadian market; however, you can access its website on all devices.
Like Rakuten, it also has a browser extension for Google Chrome that alerts you when cash back offers are available on a site you have visited.
How Does RebatesMe Work?
To use RebatesMe, create a free account ($10 bonus) and visit the site when you plan to shop online.
Canadian stores featured on the platform include Shoppers Drug Mart, Walmart, Sephora, Old Navy, Home Depot, and Foot Locker.
When you visit any of these stores via RebatesMe, cash back earned is tracked and credited to your account balance.
Rakuten vs. RebatesMe: Cash Back Rewards
Both Rakuten and RebatesMe automatically track your cash back earnings.
Rakuten has been operating in Canada for a long time, and it has partnerships with more Canadian stores than RebatesMe. Hence, it is easier to find discount opportunities.
Also, you will find cash back earn rates of up to 30% on Rakuten, while the most I could see on RebatesMe was up to 15% cash back.
Verdict: Rakuten offers more options to earn cash back when you shop online.
Rakuten vs. RebatesMe: Cash Out Options
Rakuten users can redeem their earnings using PayPal, cheque, or Amazon gift cards. Payments are sent every three months if your balance is $5.01 or more.
RebatesMe users can redeem earnings starting at $10, and payout options include PayPal, credit card, cheque, and several gift cards.
Verdict: Rakuten = RebatesMe. Both platforms offer multiple ways to request payment.
Rakuten vs. RebatesMe: Other Ways To Earn
In addition to online shopping offers, Rakuten also offers in-store cash back rewards at select stores.
To take advantage of this, you must add a Visa credit card to your account. When you pay with your linked card at a participating store, you earn cash back.
Rakuten also has a gift card shop, and when you buy a gift card, you earn cash back.
Like Rakuten, RebatesMe has a gift card store. However, it does not feature in-store cash back offers.
Verdict: Rakuten offers more ways to earn rewards.
Rakuten vs. RebatesMe: Mobile App
Rakuten has a mobile app for iOS and Android devices.
On the Google Play Store, the Rakuten app has been downloaded more than 10 million downloads and has a rating of 4.1/5.
On the App Store, it has a 3.9/5 rating.
RebatesMe also has an app; however, it is not available for download on the App Store for Canada. That said, the website is optimized for mobile devices.
Both RebatesMe and Rakuten have browser extensions for laptops.
Verdict: Both platforms are easily accessible.
Rakuten vs RebatesMe: Referral Program
When you sign up for Rakuten here, you get a $30 bonus after making your first purchase of $30 or more. You can also refer your friends to earn extra cash.
When you join RebatesMe, you get a $10 bonus after earning at least $10 in cash back rewards.
You can also refer your friends using your unique RebatesMe referral link and earn extra cash when they become eligible.
Verdict: The welcome bonus for Rakuten is easier to qualify for.
Rakuten vs RebatesMe: Are They Safe?
As per its website, Rakuten only works with retailers that use Secure Socket Layer (SSL) internet connections to protect your transactions.
I could not locate the security measures used by RebatesMe to protect your account on its website.
Rakuten has a B rating on the Better Business Bureau, while RebatesMe has an A+ rating.
Pros and Cons of Rakuten
Pros:
- Offers discounts as high as 30%
- Reputable company founded in 1997
- $30 welcome bonus
- Offers multiple ways to cash out your earnings
- Low payout threshold at $5.01
- Available on all devices
Cons:
- Payout is every three months
Pros and Cons of RebatesMe
Pros:
- Offer multiple ways to redeem earnings
- $10 welcome bonus
- Available on all devices
- Free to use
Cons:
- Limited retailers in Canada
- $10 minimum payout threshold can be challenging to reach
Rakuten vs RebatesMe: Which is Better?
Rakuten works better in Canada due to having partnerships with more retailers than RebatesMe. You can also use it for earning in-store rewards.
You can compare cash back offers on both platforms before making a purchase online, to get the best deals available at any point in time.
You could also pair either site with a no-fee prepaid cash back card like KOHO, or a no-annual-fee cash back credit card like the Tangerine Money-Back Credit Card to get the most benefit.
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