Among the myriad of cashback platforms, Rakuten (formerly known as Ebates) stands out as a leader, offering shoppers the opportunity to earn money back on purchases they were going to make anyway. But for the savvy consumer, Rakuten isn’t just a passive cashback tool—it’s a powerful platform that, when used strategically, can significantly boost your bank account. This guide will walk you through the ins and outs of maximizing your Rakuten cashback, turning everyday purchases into a lucrative side hustle.
Understanding Rakuten’s Cashback Model
Before diving into strategies, it’s crucial to understand how Rakuten operates. At its core, Rakuten is an affiliate marketing company. They partner with thousands of retailers, earning a commission when they refer customers to these stores. Rakuten then shares a portion of this commission with you, the shopper, in the form of cashback.
Cashback offers come in two primary forms: percentage-based (e.g. 3% back on your purchase) and flat-rate (e.g., $5 back when you spend $50 or more). Payouts are typically made quarterly via check or PayPal, provided you’ve earned at least $5 in cashback.
Rakuten’s partnerships span a vast array of retailers, from major department stores to niche online boutiques, giving you ample opportunity to earn on almost any purchase.
Setting Up for Success
To maximize your Rakuten earnings, proper setup is key. Start by creating an account on Rakuten’s website. During this process, be sure to provide accurate information to ensure smooth payouts.
Next, install the Rakuten browser extension. This tool is invaluable, automatically alerting you to cashback opportunities as you browse the web and allowing you to activate cashback with a single click. It also checks for coupon codes, ensuring you’re getting the best deal possible.
Don’t forget the mobile app. It’s perfect for earning cashback on-the-go and often features exclusive mobile-only offers.
For in-store cashback, link your credit cards to your Rakuten account. This allows you to earn on physical purchases without the need to present any additional information at checkout.
Finally, configure your notification settings. Opt-in for email alerts about increased cashback rates and special promotions to ensure you never miss an opportunity to boost your earnings.
Maximizing Online Shopping Cashback
The key to racking up significant cashback is to strategically time and plan your purchases. Start by familiarizing yourself with Rakuten’s cashback rates for your favorite stores. These rates can fluctuate, so keep an eye out for increases.
Timing is crucial. Rakuten frequently runs bonus cashback events, sometimes doubling or even tripling the usual rates. Major shopping holidays like Black Friday and Cyber Monday often see the highest cashback percentages of the year.
Don’t stop at just Rakuten’s cashback. Stack your savings by combining Rakuten with store coupons, promo codes, and credit card rewards. For instance, you might find a store offering 30% off, activate 10% cashback through Rakuten, and pay with a credit card that gives you 2% back on all purchases.
Pay special attention to Rakuten’s double cashback stores. These featured retailers offer increased rates for a limited time and can be a goldmine for savvy shoppers. Seasonal promotions can also offer exceptional value. Back-to-school season, for example, often sees increased cashback on office supplies and electronics.
In-Store Cashback Techniques
While Rakuten is primarily known for online cashback, don’t overlook their in-store offerings. By linking your credit cards to your Rakuten account, you can earn cashback on physical purchases at participating stores.
The Rakuten app is your best friend for in-store savings. Use it to find nearby offers and link them to your card before shopping. Some offers require activation through the app, so always check before you shop.
Combine in-store Rakuten cashback with other loyalty programs and credit card rewards for maximum benefit. For example, you might earn Rakuten cashback, credit card points, and store loyalty points all on the same purchase.
Rakuten Travel and Vacations
When planning travel through Rakuten, you can potentially earn substantial cashback due to the higher price points of these purchases. Rakuten’s partnerships with numerous travel sites, hotels, and airlines offer opportunities for significant savings on bookings.
As you plan your trip, compare cashback rates across different travel sites through Rakuten. Sometimes, booking components separately (such as hotel and flight) can yield more cashback than a package deal. This strategy allows you to maximize your returns on each aspect of your travel.
To optimize your savings, stack your travel rewards. Use a travel rewards credit card for your booking while simultaneously earning Rakuten cashback. This double-dipping approach can significantly boost your overall earnings from a single transaction.
For vacation packages, always check Rakuten before finalizing your booking. These large purchases can result in substantial cashback, sometimes $100 or more on a single transaction. By consistently using Rakuten for your travel arrangements, you can accumulate significant savings over time, effectively reducing the cost of your vacations.
Referral Program Mastery
Rakuten’s referral program offers a valuable opportunity to increase your earnings. Currently, you can earn $25 for each friend who signs up and completes a qualifying purchase, with no cap on referrals. This unlimited potential can lead to substantial additional income. To maximize your referrals, begin with your immediate circle – friends and family who are frequent online shoppers. Explain the benefits of Rakuten and offer assistance in setting up their accounts. This personal approach can be highly effective in converting acquaintances into fellow Rakuten users.
When sharing your referral link, couple it with practical tips on how you’ve saved money using Rakuten. This provides real-world value to potential sign-ups. However, maintain transparency about your referral relationship and avoid excessive promotion. By striking a balance between helpful information and referral opportunities, you can effectively grow your network and increase your Rakuten earnings while maintaining trust with your contacts.
Advanced Cashback Strategies
For those looking to take their Rakuten earnings to the next level, consider these advanced strategies:
- Gift card purchases: Buy discounted gift cards through Rakuten, then use those gift cards for purchases, earning cashback twice.
- Credit card category bonuses: Time your Rakuten purchases to align with your credit card’s bonus categories. For example, if your card offers extra points on PayPal purchases this quarter, look for Rakuten stores that accept PayPal.
- Business purchases: If you’re a business owner, use Rakuten for office supplies, software subscriptions, and other business expenses to earn cashback on these larger purchases.
- Big-ticket items: Major purchases like appliances or electronics can result in substantial cashback. Always check Rakuten before making these buys.
- Recurring bills: Some service providers, like cell phone companies or internet providers, partner with Rakuten. Set up your service through Rakuten to earn cashback on your monthly bills.
Avoiding Common Pitfalls
While Rakuten is generally user-friendly, there are some pitfalls to watch out for:
- Ensure your cashback tracks correctly by always clicking through Rakuten before making a purchase. If you don’t see the cashback in your account within a few days, contact Rakuten’s customer service.
- Be aware of exclusions and limitations. Some items, like gift cards or certain brands, may not be eligible for cashback. Always read the fine print.
- Most importantly, avoid overspending just to earn cashback. The goal is to save money on planned purchases, not to buy things you don’t need.
Tracking and Optimizing Your Earnings
To optimize your Rakuten earnings, it’s essential to closely monitor your cashback. While Rakuten provides built-in tracking tools, consider developing your own system to complement these. This personalized approach can help you identify patterns in your most lucrative purchases and highlight areas where you might be missing cashback opportunities.
Setting specific cashback goals can significantly boost your motivation to use Rakuten consistently. Whether you’re aiming to fund a vacation or bolster your savings account, having a concrete target in mind can serve as a powerful reminder to activate Rakuten for every eligible purchase. This goal-oriented strategy, combined with diligent tracking, can transform your casual use of Rakuten into a more strategic and rewarding financial practice.
Comparing Rakuten with Other Cashback Platforms
While Rakuten is a leading cashback platform, it’s not the only option available. Other sites like TopCashback and BeFrugal sometimes offer higher rates for certain stores. To maximize your savings, consider using multiple cashback platforms strategically.
Before finalizing a purchase, take a moment to compare rates across these different platforms. Although this approach requires a bit more time and effort, it can lead to substantially higher cashback, especially on big-ticket items. This comparative strategy is particularly beneficial for large purchases, where even a small percentage difference can translate to significant savings.
Conclusion
Mastering Rakuten is about more than just clicking a button before you shop. It’s about strategically planning your purchases, stacking multiple savings methods, and consistently using the platform for all eligible buys. By implementing the strategies outlined in this guide, you can transform your everyday shopping into a reliable source of extra income.
Remember, the key to success with Rakuten is consistency and awareness. Make using Rakuten a habit, stay alert to special promotions and increased cashback opportunities, and always look for ways to stack your savings. Over time, these small actions can add up to substantial earnings, giving your bank account a noticeable boost.
