Cashback apps help you save money by allowing you to earn rewards on everyday purchases. However, with so many cashback apps on the market, it may be difficult to pick which one to use. To help you find the right app for your shopping needs, we’ve compared two of the most popular options, Ibotta vs. Rakuten.
Both apps allow you to easily earn cashback rewards on in-store and online purchases. However, Ibotta has more grocery offers, so it may be better for frugal shoppers hoping to lower their food bill. Read on to learn more.
Ibotta vs. Rakuten Comparison
Shopping Methods
Ibotta and Rakuten both allow you to shop in-store and online. With Ibotta, you usually have to scan your receipt after shopping in person. However, some stores may allow you to link your loyalty account to Ibotta to register your purchases automatically, no receipt scanning required.
Rakuten allows you to select the cashback offer you want to redeem and link your payment method to your account. Then you can simply head to the store and pay with that credit or debit card to automatically earn cashback on your purchase. This is a pretty convenient way to shop because you don’t have to worry about saving and scanning your receipt.
Ibotta and Rakuten also have online platforms and mobile apps that you can use to shop online. All you have to do is select the offer you want to redeem and click the “shop now” button to steer to the retailer’s website. Then you can shop as normal and your purchases should be registered automatically.
To make earning rewards online even easier, Ibotta and Rakuten both have browser extensions that you can download. Sometimes you may overlook to check for cashback offers before you start shopping. But with a browser extension, you’re less likely to miss available rewards.
Browser extensions usually use pop-ups to let you know when an online retailer you’re shopping at has a cashback offer. You can simply click on this pop-up to activate the offer and earn rewards on any purchases you make.
Offers Available
Ibotta and Rakuten allow you to earn cashback on your purchases at major retailers such as Home Depot and Best Buy. Both rewards platforms partner with a long list of brands, so you’ll have lots of shopping options.
Rakuten says they work with over 3,500 stores while Ibotta partners with over 2,000. No matter which app you use, you’ll be able to earn rewards on everything from clothing to electronics to children’s toys. In my encounter, both apps seem to offer similar cashback rates ranging from roughly 2% to 10%.
Ibotta Has More Grocery Offers
Ibotta has a greater focus on grocery offers than Rakuten. In the Ibotta app, you can pick your preferred grocery store and scroll through a list of products that currently have rebates, which are appreciate digital coupons.
Ibotta’s grocery rebates usually allow me to earn between $0.50 and $3 back on each eligible item I buy. The app has deals on many staples such as dairy, meat, produce, pantry items, and cleaning supplies. Sometimes you can even get free products that have a 100% cashback rebate or redeem BOGO offers. I saved nearly $25 the last time I used Ibotta at the grocery store.
However, redeeming offers does take some time since you have to clip all the individual rebates you want to use. If you shop in person, you’ll have to take pictures of your receipt once you’re done shopping. Sometimes you may have to scan the barcode of a product if the receipt scanner doesn’t register it. Certain grocery stores may allow you to link your loyalty account to Ibotta so you don’t have to scan your receipt, which is a convenient feature.
Buying groceries online is a bit easier. Simply steer to the grocery pickup and delivery section of the Ibotta app. Then select your supermarket, pick your offers, and shop as normal. Your purchase will be registered automatically, so you don’t have to scan your receipt. You can also use the browser extension to earn rewards on grocery orders.
Rakuten allows you to save money at certain grocery stores appreciate Safeway and Food Lion. You can also earn cashback at specialty food retailers appreciate Omaha Steaks and Baked by Melissa. But in my encounter, it’s less useful for grocery shopping since it doesn’t offer the same digital rebates on individual grocery items that Ibotta does.
Redemption Options
Another difference between Ibotta vs. Rakuten is the redemption options they offer. Rakuten allows you to cash out your earnings once you’ve earned a minimum of $5. Currently you can acquire your cashback as a check in the mail, a PayPal payment, or American articulate membership rewards points.
Ibotta has a higher minimum cashout requirement of $20. However, the app offers more redemption options. You can pick from a variety of gift cards from major brands appreciate Starbucks, Walmart, Lowe’s, and more. You can also transfer your earnings to your bank account or PayPal once you achieve the $20 threshold.
Rakuten usually delivers payments about once every three months. On the other hand, you can acquire a gift card from Ibotta almost instantly.
Ibotta vs. Rakuten: Which One Is Right for You?
Ibotta and Rakuten allow you to earn cashback rewards at thousands of retailers. Whether you prefer to shop online or in person, both apps make the process easy. However, Ibotta offers more grocery store rebates, which is a big plus considering how much food prices have risen due to inflation.
With that being said, it may take you longer to hit Ibotta’s cashout threshold of $20. If you’re hoping to earn rewards quickly, Rakuten may be the better choice because you can redeem your earnings once you hit $5. Rakuten also allows you to shop in person at a wide variety of stores without scanning your receipt, which is more convenient.
Do you use Rakuten or Ibotta? What’s your favorite way to earn cashback? Share your thoughts in the comments!
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