For those who’re wanting to save cash when procuring on-line, you’re in all probability conversant in two main procuring platforms: Honey and Rakuten.
I’ve been utilizing each corporations for over two years. On this time, I’ve saved greater than $5,000 in coupon codes and cashback rewards between each corporations.
Nevertheless, since cash saving browser extensions battle with one another when procuring, how I take advantage of Honey or Rakuten varies primarily based on what I’m doing. And there are some important variations between every extension that affect how a lot you save.
That’s why this Honey vs Rakuten breakdown is overlaying the options, variations, and professionals and cons that will help you select the perfect procuring extension for you
Honey vs Rakuten – Fast Abstract
- Rakuten is a number one cash-back shopping extension
- Honey is a number one coupon-finding extension that’s owned by PayPal
- Rakuten is healthier for incomes actual money again and pays you quarterly
- Honey is healthier for locating upfront financial savings via coupons
- Rakuten has a greater join bonus, however Honey is healthier for worldwide buyers
About Honey
Honey is a free procuring platform that began in 2012. Since its inception and being acquired by PayPal, Honey has grown into a number one rewards platform that has over 17 million customers worldwide.
Honey is finest identified for his or her computerized coupon codes, and total, I’ve actually loved utilizing Honey over the previous two years each time I’m looking for reductions on-line.
Thus far, I’ve additionally acquired greater than $400 by procuring with Honey, profiting from Honey Gold bonuses, and referring some buddies/readers.
Truthfully, Honey coupons have been the least profitable a part of the platform for me, and I’ve discovered searching for gold bonuses has been extra profitable. BUT, I’ll get into all these particulars later on this Honey vs Rakuten breakdown.
About Rakuten
Rakuten, beforehand generally known as eBates, is a cashback procuring platform that permits you to get paid to shop at hundreds of widespread manufacturers.
On Rakuten, you earn actual cashback for procuring on-line with hundreds of companions…no catch, simply pure money financial savings and pleasure.
General, Rakuten has fewer bells and whistles than Honey. Nevertheless, up to now, I’ve earned over $7,000 through the use of it to buy on-line and from referring readers/buddies.
For those who’re a severe on-line shopper, I feel Rakuten might simply prevent a strong amount of cash per 12 months. Nevertheless, it is best to examine each platforms to be sure you’re utilizing every extension/platform the correct method.
Honey vs Rakuten – The Options
In a nutshell, Honey focuses on coupon codes and free reward playing cards whereas Rakuten prioritizes cashback rewards. However you should utilize each extensions to maximise your financial savings relying on the kind of procuring you’re doing.
So, let’s take a deeper dive into every kind of function to see should you ought to use Honey or Rakuten the subsequent time you store.
1. Availability & Shops
Each Honey and Rakuten do an amazing job at letting customers from a number of international locations save more money at hundreds of outlets:
- Honey – Helps retailers in Canada, the USA, Australia, the UK, and web sites that help worldwide procuring from these international locations.
- Rakuten – Helps retailers in Canada, the USA, and the UK.
Moreover, Honey works with 40,000+ shops based on their web site, whereas Rakuten states it really works with over 3,500 shops.
Take Honey’s declare with a grain of salt…they “work” with 40,000+ shops however you’ll be able to’t all the time discover financial savings or rewards! The truth is, each platforms can be found for customers all over the world and work with hundreds of companions.
Verdict: Honey and Rakuten are tied when it comes to availability.
2. Automated Coupon Codes
Each Honey and Rakuten supply coupon codes that will help you get monetary savings when procuring on-line. Nevertheless, Honey is healthier than Rakuten in terms of coupons due to its computerized coupon codes at checkout.
With the Honey browser extension, Honey notifies you once you’re procuring at a Honey companion with potential coupon codes. All you must do is hit “strive codes” and Honey will rapidly take a look at every code at checkout to see should you get a reduction.
As you’ll be able to see within the screenshot above, Honey helped me discover some coupons to H&M and a free transport supply, which is fairly good. This doesn’t all the time work, but it surely solely takes a number of seconds and I’ve discovered reductions sometimes.
In distinction, Rakuten doesn’t focus as a lot on coupons. Whereas some retailers on the platform have coupons you should utilize, cashback is the secret for Rakuten.
Verdict: Honey has a greater coupon system than Rakuten, particularly because it’s computerized.
3. Cashback Rewards
Whereas it would shock you, each Honey and Rakuten have a type of cashback rewards you’ll be able to earn from when procuring on-line.
With Honey, you’ll be able to earn Honey Gold, the platform’s forex, for procuring on-line at eligible companions (the extension notifies you when there’s a Gold alternative).
Now, not like Rakuten, which pays a certain amount of cashback for every retailer, Honey Gold is random.
For instance, once I order issues on Fiverr, I typically see that my buy is eligible for 1% to five% Honey Gold within the type of cashback. As soon as my buy is verified, a random quantity of Gold in that vary seems in my account as pending for about 60 days.
Now, with Rakuten, you understand precisely how a lot cashback you’ll be able to earn as a result of companions clearly promote the quantity.
Truthfully, I feel this reality makes Rakuten higher than Honey as a result of you’ll be able to calculate your financial savings and store with higher accuracy. Plus, should you don’t actually care what service provider you store from, you’ll be able to merely decide the service provider with the perfect cashback proportion and maintain issues easy.
Sure, Honey does have some profitable Gold rewards, however I dislike the random issue.
On the intense aspect, Honey provides time-sensitive bonuses which you’ll be able to declare and full inside 7 days to earn a certain amount of Gold, in order that’s an enchancment. You may as well seek for eligible retailers on Honey’s discover web page, which is similar to the desktop model of Rakuten.
That mentioned, I’ve earned over $7,000 with Rakuten through the years and discover it has method higher-paying provides than Honey.
Verdict: Honey excels at coupons, however Rakuten has the higher cashback system.
4. Rewards
This level may have a little bit of competition, so it’s arduous to actually decide a winner between Honey or Rakuten.
Honey is superior since you get upfront financial savings with coupons and can redeem Honey Gold for a variety of free reward playing cards to retailers like:
Moreover, Honey helps you to redeem rewards at 1,000 Gold, or $10, which is fairly low on the earth of reward apps. Moreover, Honey has rewards for customers residing in Canada, the USA, Australia, Nice Britain, and the EU.
Lately, Honey additionally added the choice to redeem gold for PayPal cash, which is a large improve. The one catch is your PayPal rewards apply as a credit score for future purchases, so it’s not like PayPal is depositing $30 proper in your account.
In distinction, Rakuten pays money rewards via PayPal or examine on a quarterly foundation so long as you will have $5 or extra in your account.
This can be a decrease redemption minimal, however you’ll be able to’t redeem your stability everytime you select. And also you want a PayPal account except you need to watch for a examine to reach.
If you would like free gift cards, use Honey. In any other case, I’d say Rakuten wins out within the Honey vs Rakuten debate.
Verdict: Rakuten is much less versatile however pays out precise PayPal money whereas Honey has extra redemption choices, so it is dependent upon which rewards you worth most.
5. Browser Extensions
Truthfully, there’s not rather a lot to say right here when it comes to one firm having a bonus over the opposite. The aim of Honey and Rakuten’s browser extensions is to automate issues and prevent time.
With Honey, you get notified of coupons and Gold alternatives. Rakuten does the very same factor, albeit with fewer coupons and higher cashback provides.
The principle distinction is that Rakuten has a nifty comparability procuring function that typically notifies you if one other retailer has a greater worth than the retailer you’re at the moment procuring at.
Nevertheless, Honey does this for Amazon sellers, which undoubtedly provides Honey the sting should you’re a frequent Amazon patron (particularly since neither Honey nor Rakuten at the moment pay rewards for procuring on Amazon).
Finally, I feel that is one other tie as a result of each extensions largely accomplish the identical factor.
6. Cell Apps
Whereas it would shock you, these browser-focused procuring platforms each have cell apps you should utilize to take your financial savings on the go.
Honey’s app is known as the Honey Good Store Assistant, and it’s a tad completely different than the desktop model. Presently, Honey’s Good Store Assistant helps you to:
- Purchase merchandise from 300+ shops (together with Amazon)
- Apply cell coupon codes at checkout
- Earn Honey Gold for procuring and add merchandise to a worth watchlist
In a nutshell, the app is mainly a centralized model of Honey that’s designed to make on-line procuring quick and ripe with offers.
In distinction, Rakuten’s cell app feels a bit extra distinctive once you evaluate it in opposition to the desktop model and browser extension.
With the Rakuten app, you unlock:
- In-store coupons
- Unique cashback offers for cell customers (together with for Uber and Lyft rides)
- 5% money again at hundreds of eating places
The truth that some provides are unique to the app is a reasonably superior perk, and in-store coupons means it can save you each on-line and in-person.
Honey is a greater cell app should you often store out of your smartphone and need to centralize your offers. Nevertheless, as an unbiased app, Rakuten has extra performance and unique offers.
Verdict: Rakuten’s unique cashback offers and in-store coupons are robust to beat.
7. Referral Packages
Whereas I don’t suppose referral bonuses are deal breakers, it’s one final issue to think about earlier than you select Rakuten or Honey.
Right here’s the referral particulars for every firm:
- Honey. Invite a pal to Honey and also you each get 500 Gold ($5) each time they earn their first Gold. You’ll be able to refer as much as 200 buddies and there isn’t a time restrict on your pal to earn their gold.
- Rakuten. Invite a pal to enroll and you each get $30 when your pal spends their first $30 on Rakuten. If you would like an invitation, you can use my link to assist help This On-line World. 🙂
The truth that Rakuten provides each folks $30 for signing up and spending cash on procuring is a large benefit over Honey. For those who and a pal have an upcoming procuring journey, this deal is an absolute no-brainer.
I’ll admit, Rakuten typically modifications the signup bonus to $5 or $10, however I’ve additionally seen a $40 bonus earlier than at Christmas so that you by no means know what you’ll get.
You may as well take a look at my publish on the best instant $25 sign up bonuses for much more methods to get free money.
Verdict: Rakuten has a greater referral program than Honey.
Execs & Cons
Honey Execs:
- Works in a number of international locations and 40,000+ shops
- Huge number of reward card rewards
- Now you can redeem PayPal credit should you favor money
Honey Cons:
- Money-back charges aren’t all the time as excessive as Rakuten
- PayPal credit aren’t upfront money
- The Honey cell app isn’t as helpful because the procuring extension
Rakuten Execs:
- Unbelievable referral program
- Earn precise money for procuring
- Works with hundreds of shops
Rakuten Cons:
- Rakuten solely pays you quarterly and also you want at the very least $5 in your stability
- Honey has a greater coupon system than Rakuten
Is Honey Or Rakuten Higher?
In my expertise, Honey is healthier than Rakuten if you wish to discover on-line coupons or do numerous procuring on Amazon. And it has higher worldwide protection than Rakuten. Nevertheless, Rakuten is healthier for earning real money because it has increased cashback charges. It additionally has a significantly better referral program than Honey.
You’ll be able to all the time take a look at out each procuring platforms to see which one helps you save probably the most cash on an upcoming buy.
However personally, I take advantage of Rakuten for many of my procuring wants and solely examine Honey if I’m searching for coupons or can’t discover offers.
Can You Use Rakuten And Honey At The Similar Time?
No, you’ll be able to’t use Rakuten and Honey on the similar time to double-dip on rewards. Retailers pay money again to the web site the place the cookie was final used, so no matter website you utilize final on your buy is the one that may credit score.
Our recommendation is to disable the Rakuten and Honey browser extensions whereas procuring. As soon as you understand the positioning that pays the perfect fee, activate that individual extension and full your buy.
You may as well toggle Honey on to examine for coupon codes after which disable it if you wish to store with Rakuten should you can’t discover coupons.
What Are Some Different Options?
In my view, Rakuten and Honey are two of the perfect procuring rewards platforms on the market. Nevertheless, I additionally use loads of different extensions and apps to avoid wasting.
Another helpful instruments you’ll be able to have in your money-saving toolkit embrace:
None of those extensions are going to cowl your total purchases. However you’ll be able to simply save a quick $5 to $50 a month or extra relying in your procuring habits with out a lot effort.
Further Studying – How To Make $400 Fast – The 14 Best Methods.
Last Ideas
I do know this was a little bit of an intense Honey vs Rakuten showdown, however right here’s the factor…each platforms are utterly free to make use of.
That is why I’ve used each Rakuten and Honey for the final two years and have over $1,000 in free money.
Actually, the secret is to obtain each extensions and to check out which one works finest for you. In spite of everything, each extensions have distinctive offers and financial savings, so you’ll be able to toggle between them to make sure you save as a lot as potential.
If you wish to help This On-line World, you can too join every platform utilizing the hyperlinks beneath:
Word: Capital One Buying gives us with compensation once you use the hyperlinks offered.
Tom is a full-time blogger and freelance author with a ardour for aspect hustling, passive revenue, and the gig financial system. His work has appeared on dozens of non-public finance web sites like Cash Crashers, The Faculty Investor, Investor Junkie, and extra. This On-line World is all about offering folks with sincere methods to make and save more cash through the use of know-how. To study extra about Tom, learn his About Page!
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