Deciphering the Cashback Battle: Ibotta versus Rakuten – Who Delivers More Bang for Your Buck?
Which is More Effective for Cash Back: Ibotta or Rakuten?
People are into cash back programs like Ibotta and Rakuten because they help save money on essential purchases. But which one’s better? To answer that, let’s compare these two.
Quick Overview of Ibotta and Rakuten
The main difference is, Ibotta is great for in-store shopping offers, especially for groceries, while Rakuten shines for online shopping. Both can get you cashback for in-store and online purchases, but where they’re best at differs.
About Ibotta
Ibotta is an app that gives you cash back for in-store or online purchases. You can earn by adding offers to the app before shopping and then submitting a receipt after purchasing. You can also link a store loyalty account to access rebates without needing a receipt. Online, select your favorite offers then purchase via the Ibotta browser extension to earn cash back. However, the extension is only available for Google Chrome.
Ibotta requires you to submit a receipt to get rewards, usually credited within 24 hours. Check the app regularly to see current cash back offers. For online shopping, just open the app, redeem a cashback offer, and you’ll earn cash rewards.
About Rakuten
Rakuten, formerly “Ebates,” lets you earn cash back online and for some in-store purchases. Using the browser extension or app, see available offers, click on the store link, and earn cashback for eligible purchases. You can also link your card to the app to earn cashback in-store by selecting a linked offer. You can only redeem each offer once, but you can always relink it for future use. Rakuten offers a credit card with additional cash back benefits.
Rakuten makes earning cash back easy. Open a free account, find the participating stores, and start earning. Rewards are sent every three months — if you’ve earned $5 or more, you’ll receive the funds.
Affiliated Retailers
Both apps are partnered with popular retail giants to increase your cash back opportunities. For Ibotta, these include Walmart, GAP, Target, Lowe’s, Sephora, and more. Rakuten includes Best Buy, Nordstrom, Samsung, Adidas, and others. Regularly check for updated offers, especially during the holiday season.
App Experience
Both apps are available for Android and iOS for a simplified cash back process. Ibotta’s app notifies you of new offers, and lets you withdraw your earnings once you hit $20. Rakuten’s app shows you all available retailers and finds applicable coupon codes during checkout.
Similarities of Ibotta and Rakuten
Both apps are free with no hidden costs. They allow you to redeem rewards for extra cash and have generous referral bonuses. Both have thousands of retailers that increase your earning potential significantly.
Differences between Ibotta and Rakuten
The minimum cash out for Rakuten is $5.01 and is issued automatically every three months, while Ibotta’s is $20. Ibotta tends to have more offers with retail partners but is more complicated though, requiring scans of receipts and sometimes barcodes. Rakuten is easier to use for in-store purchases, but has less in-store offers compared to Ibotta.
Conclusion
Rakuten is ideal for everyday purchases and online shopping. Ibotta comes up top if you’re focused on grocery purchases. But why choose one, when you can use both to maximize your saving opportunities?
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