Rakuten VS Honey | Which One Saves You MORE Money?
In today’s world, where online shopping has become the new normal, saving money while shopping has become a top priority for many consumers.
Rakuten and Honey are two popular cashback and coupon code websites that help shoppers save money on their online purchases.
While both services offer similar benefits, such as cashback rewards and price tracking features, they differ in their user experience, available retailers, and welcome bonuses.
In this article, we’ll compare and contrast Rakuten and Honey, and provide insights into their features, pros and cons, and how they can help you save money while shopping online.
So, if you’re looking to save some money on your online purchases, read on to learn more about these two popular money-saving services.
>> Click here to Sign up for Rakuten ($30 Signup Bonus)
>> Click here to sign up for Honey (500 Points/$5 Signup Bonus)
>> Click here to watch: Rakuten VS Honey | Which One Saves You MORE Money?
What is Rakuten? How does Rakuten Work?
Rakuten is an online shopping platform that offers cashback rewards to its users. When you make a purchase through Rakuten, you can earn a percentage of your purchase amount back in the form of cashback.
Rakuten partners with a wide range of retailers, including Target, Groupon, Bass Pro Shops, Walmart, and Best Buy, so you can earn cashback on many of your online purchases.
Rakuten also offers promo codes and coupons to help you save even more money on your purchases.
What is Honey? How does Honey Work?
Honey, on the other hand, is a browser extension that automatically applies promo codes and coupons to your online purchases. Honey scans the internet for valid promo codes and applies them to your purchase at checkout, helping you save money without any extra effort.
Honey also offers a feature called “Droplist,” which allows you to track the price of an item over time and receive an alert when the price drops. This can be useful if you’re waiting for a sale or looking for the best possible price on an item.
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How do I get the welcome bonus for Rakuten?
When you sign up for Rakuten, you can receive a welcome bonus of $30 after making your first qualifying purchase of $30 or more through the platform. To qualify for the bonus, you must sign up using a referral link or promo code and make your qualifying purchase within 90 days of signing up.
Bonus: Sometimes Rakuten will run promos where they have a $40 sign up bonus!
How do I get the welcome bonus for Honey?
When you sign up for Honey, you can receive a welcome bonus in the form of Honey Gold, which is Honey’s rewards currency.
The amount of the bonus can vary depending on current promotions, but typically ranges from 500 to 1,000 Honey Gold which equals to $5-10.
To qualify for the bonus, you must sign up for Honey using a referral link or by downloading the browser extension and creating an account.
It’s worth noting that the specific details of the welcome bonuses offered by Rakuten and Honey can change over time, so it’s always a good idea to check their websites or the terms and conditions of any promotions before signing up.
Additionally, these welcome bonuses are typically one-time offers and are only available to new users who are signing up for the first time.
How does Honey’s Droplist feature work?
Honey’s Droplist feature is a convenient tool that allows users to track the price of a specific item and receive alerts when the price drops. To use the Droplist feature, simply add an item to your Droplist by clicking on the Honey icon on your browser when you’re on the product page, then clicking on “Add to Droplist.”
Once you’ve added an item to your Droplist, Honey will monitor the price of that item and notify you via email or push notification when the price drops or when a better deal becomes available. You can also view the price history of the item and see how the price has fluctuated over time.
The Droplist feature is especially helpful when you’re planning to make a purchase but aren’t in a rush to buy it immediately. By adding the item to your Droplist, you can wait for a sale or price drop and get the best deal possible. Overall, Honey’s Droplist feature is a useful tool for anyone who wants to save money on their online purchases.
What is the Best Price feature that Honey has and how does it work?
Honey has a feature called “Best Price” that helps you determine if you are shopping at the best price for a particular item.
Here’s how it works:
- When you are shopping on a supported website, Honey will automatically track the prices of the items in your shopping cart over time.
- If Honey finds a lower price for any of the items in your cart, it will let you know with a notification.
- You can then choose to either stick with the current price or switch to the lower price.
The Best Price feature can be especially useful when shopping for high-ticket items, as it can help you save a significant amount of money over time. It can also save you the hassle of constantly monitoring prices yourself or searching for better deals elsewhere.
It’s worth noting that the Best Price feature is only available on select websites and may not be available for all products or purchases. Additionally,
Honey’s ability to track prices and find lower prices is dependent on the availability and accuracy of the data it receives from retailers, so there may be some cases where it does not catch a lower price.
Nonetheless, it’s still a valuable tool to have when shopping online and can help you save money and make more informed purchasing decisions.
How are Rakuten and Honey similar?
Both Rakuten and Honey have a browser extension that integrates with your online shopping experience. This means that they are seamless to use, as you don’t need to navigate to a separate website to save money.
Both are free to use
Rakuten and Honey are both completely free to use. There are no hidden fees or charges to use either platform.
Both offer savings opportunities
Rakuten and Honey are designed to help you save money when shopping online. Rakuten offers cashback rewards on purchases, while Honey finds and applies promo codes and coupons to your orders.
Both work with popular retailers
Rakuten and Honey both partner with a wide range of popular retailers, including Walmart, Target, and Best Buy, to name a few.
Both offer referral bonuses
Rakuten and Honey both offer referral bonuses to users who invite their friends to join the platform. When a friend signs up using your referral link, you can earn a bonus reward.
What are the differences between Rakuten and Honey?
Rakuten may offer more opportunities to save overall due to its partnerships with a wider range of retailers.
Savings opportunities
Rakuten may offer more savings opportunities overall due to its partnerships with a wider range of retailers, while Honey is more focused on finding and applying promo codes and coupons to your orders.
Payment schedule
Rakuten pays out cashback rewards on a quarterly basis, while Honey’s savings are applied to your order immediately.
International availability
Rakuten is available in multiple countries around the world, while Honey is primarily focused on the US market.
Additional features
Honey offers additional features such as Droplist, which allows you to track the price of an item and receive alerts when it goes on sale, and HoneyGold, which allows you to earn rewards for certain purchases.
Commonly asked questions about Rakuten:
What is Rakuten and how does it work?
Rakuten is a cashback website that partners with thousands of retailers to offer users cashback rewards on their purchases. To use Rakuten, simply sign up for a free account, click through Rakuten’s website or app to shop at your preferred retailer, and earn cashback on your purchases.
How do I earn cashback on Rakuten?
To earn cashback on Rakuten, simply click through Rakuten’s website or app to shop at your preferred retailer. Once you complete your purchase, Rakuten will track your purchase and credit your account with the cashback rewards.
How do I get paid by Rakuten?
Rakuten pays out cashback rewards quarterly via PayPal or by check. To receive your cashback rewards, simply make sure your payment information is up to date in your Rakuten account.
Is Rakuten free to use?
Yes, Rakuten is completely free to use. There are no membership fees or hidden charges to use Rakuten.
How much cashback can I earn on Rakuten?
The amount of cashback you can earn on Rakuten varies depending on the retailer and the purchase. Cashback rewards typically range from 1-10% or more, but some purchases may offer even higher cashback rates.
Can I use Rakuten in combination with other discounts or promo codes?
Yes, you can use Rakuten in combination with other discounts or promo codes, as long as the retailer allows it. However, keep in mind that using additional discounts or promo codes may impact the amount of cashback you earn.
What if my cashback rewards don’t appear in my account?
If your cashback rewards don’t appear in your account after a purchase, you can contact Rakuten’s customer support team for assistance, they will have you fill out a form and then get back to you within a few days.
Commonly asked questions about Honey:
What is Honey and how does it work?
Honey is a browser extension that automatically finds and applies coupon codes at checkout when you shop online. It also offers cashback rewards and price tracking features. To use Honey, simply install the browser extension and start shopping online.
Is Honey free to use?
Yes, Honey is completely free to use. There are no membership fees or hidden charges to use Honey.
How do I earn cashback rewards with Honey?
To earn cashback rewards with Honey, simply shop online as you normally would and make sure the Honey browser extension is installed. Honey will automatically apply cashback rewards to your account when you make a qualifying purchase.
How do I get paid by Honey?
Honey pays out cashback rewards via PayPal. Once you have earned a minimum of $10 in cashback rewards, you can transfer your earnings to your PayPal account.
How does Honey find coupon codes?
Honey uses a database of coupon codes and algorithms to find and apply the best coupon codes available for your purchase.
Does Honey work on all websites?
Honey works on thousands of websites, but it may not work on every single website. However, Honey is constantly adding new websites to its database to improve its coverage.
Can I use Honey in combination with other discounts or promo codes?
Yes, you can use Honey in combination with other discounts or promo codes, as long as the retailer allows it. However, keep in mind that using additional discounts or promo codes may impact the cashback rewards you earn.
How does Honey’s price tracking feature work?
Honey’s price tracking feature allows you to track the price history of items you are interested in purchasing. When you view a product on a supported website, Honey will show you a graph of the item’s price history and notify you if the price drops or if a better deal becomes available.
Why would you use Rakuten over Honey?
Ultimately, the choice between Rakuten and Honey depends on your shopping habits and preferences. If you make a lot of large purchases and want to earn cashback, Rakuten may be the better choice.
If you make a lot of small purchases and want to save money with promo codes, Honey may be the better choice. Both platforms offer unique ways to save money while shopping online, so it’s worth trying both to see which one works best for you.
Overall, while Rakuten and Honey share some similarities, there are also significant differences between the two platforms that may make one more suitable for your needs and preferences. It’s worth trying both to see which one works best for you.
Can I use both Rakuten and Honey on the same purchase?
Unfortunately you can’t “double dip” and use both Rakuten and Honey in the same purchase, if both are automatically enabled by the browser plug-in, one will cancel out from each other.
Make sure you look for the best deal or the most cash-back that you will receive, enabling that browser plug-in before making the purchase.
Can I use either Rakuten and Honey with my credit card to get those rewards too?
Yes! You can use your credit card to receive the purchase protection benefits, cash back or points, and receive the benefits with either Rakuten or Honey!
How do I sign up for Rakuten and Honey?
>> Click here to Sign up for Rakuten ($30 Signup Bonus)
>> Click here to sign up for Honey (500 Points Signup Bonus)
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