Ibotta and Rakuten are two excellent cash-back apps. Both apps maximize your shopping by giving you a rebate.
A cash-back app allows you to make the most of what you buy.
It works by giving you a certain amount back from your purchases.
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You’ll earn cash or points, depending on the cash-back app.
If the cash-back app offers points, you can redeem them for rewards and gift cards.
Rakuten, previously Ebates, and Ibotta are two excellent cash-back apps. You can use either one to buy things online or in-store.
There are many categories to earn cash back, including groceries, travel, and clothes.
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The following is a comparison of Rakuten and Ibotta. It’ll help you decide which one provides the most value to you.
Ibotta versus Rakuten
Rakuten and Ibotta have a lot in common. But, there are several key differences.
Both cash-back apps pay well, are legit, and established.
The following table shows how Rakuten and Ibotta stack up.
| Feature | Rakuten | Ibotta |
|---|---|---|
| Availability | Browser extension and mobile app (iOS and Android) | Browser extension and mobile app (iOS and Android) |
| Minimum to withdraw | $5.01 | $20 |
| Number of retailers | Over 2,500 | Over 2,000 |
| Redemption options | PayPal or check | PayPal, bank deposit, or gift card |
| Referral bonus | $30 per referral | $10 per referral |
| Best for | Online shopping | In-store shopping and groceries |
| Visit Rakuten | Visit Ibotta |
With Rakuten and Ibotta, you can shop the best deals, get paid for what you buy, and bonuses for referrals.
Both are straightforward ways to save more money.
Use Rakuten if most of your shopping is online and Ibotta for in-store shopping and groceries.
Ibotta: Benefits, drawbacks, and how to use it
Ibotta began in 2011 as a grocery rebate company. Now, it has more than 2,000 partner stores across various categories.
With Ibotta, you earn money back from in-store, online, and mobile app purchases. Also, it’s free to sign up and use.
The Ibotta platform is safe, and your data is secure. You can confidently link your bank and loyalty accounts.
Benefits of Ibotta:
- Get cash out anytime with a minimum $20 withdrawal.
- Free to sign up and use.
- Over 2,000 retail partners.
Drawbacks of Ibotta:
- Requires an app.
- $3.99 maintenance fee if you don’t use the app for 180 days.
Take the following steps to use Ibotta:
- Download the free Ibotta app.
- Set up an account.
- Find offers to claim.
- Add the offer.
- Shop and upload the receipt within seven days.
- Get cash out after you reach a $20 balance.
To get cash-back for online shopping, you must use the Ibotta app or install the Google Chrome browser extension.
Ibotta is a straightforward cash-back app. If you link a loyalty account, Ibotta can track the sale without a receipt.
Otherwise, you need to upload a receipt. It’s best to do it when you get home from the store, so you don’t forget.
Rakuten: Benefits, drawbacks, and how to use it
Rakuten is a cash-back website and app that began in 1997. In 2014, Rakuten acquired Ebates and now has more than 2,500 stores in its network.
Rakuten is the best cash-back app for online shopping.
It offers a browser extension available for Chrome, Edge, Safari, and Firefox.
It tracks your purchases, so you don’t need to upload a receipt.
Also, Rakuten has a credit card without an annual fee.
You earn an extra 3% cash-back when you shop through Rakuten and 1% on everything else.
Benefits of Rakuten:
- Use the app, website, or browser extension.
- Free to sign up and use.
- Over 2,500 retail partners.
- Significant cash-back when you pair it with the Rakuten credit card.
Drawbacks of Rakuten:
- Payments are sent quarterly.
- May lead to impulsive buying.
Take the following steps to use Rakuten:
- Download the free Rakuten app.
- Create an account.
- Search for stores or products through the app or website.
- Shop to accumulate cash-back.
- Get cash out through PayPal or a check.
Rakuten sends payments every three months. The following table shows Rakuten’s payment schedule.
| Purchase posting date | Payment sent date |
|---|---|
| January 1 to March 31 | May 15 |
| April 1 to June 30 | August 15 |
| July 1 to September 30 | November 15 |
| October 1 to December 31 | February 15 |
Use Rakuten and Ibotta together to maximize your spending
Instead of choosing one cash-back app, you can use Rakuten and Ibotta together.
When you shop, compare the offers on Rakuten and Ibotta. You can see which is better for what you want to buy.
By using both cash-back apps, you can earn more than you would with one of the platforms.
How cash-back apps and sites work
Cash-back apps and sites sound incredible, but is there a catch? No, there’s no catch.
Cash-back apps work by sending traffic to retailers.
If you buy something, the retailer pays the cash-back app a commission.
Then, the cash-back app sends you a part of the commission.
Rakuten and Ibotta are free to use and allow you to save money when you shop.
Conclusion
Rakuten and Ibotta are two excellent rebate programs. They pay you when you shop at partner stores.
Both have more than 2,000 partner retailers, making it intuitive to earn cash back.
Out of the two, Rakuten is better because you’ll earn more.
You can also use both. Use Rakuten for online shopping and Ibotta for in-store shopping and groceries.
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Featured image courtesy of Pexels.
About David Em
Founder
David Em is the founder of More Money More Choices, which he launched to help you take control of your finances and build your dream life. Before More Money More Choices, David worked in leadership positions in the finance industry.