Cashback sites are gaining popularity all over the world, as people continue to find ways to make extra cash. In this Ebates vs Honey comparison you will learn more on why you should take advantage of a cashback site today.
A cashback site gives you money back for your purchases, so by buying things you would buy anyway, you’re making money again. Yes, this is legitimate.
However, like any other venture, there are the ins and outs and individual websites and companies that don’t work. It’s important to do the research and check the reviews for any site before you decide to purchase it.
What are Cashback Sites?
The way cashback sites work is more straightforward than it sounds. Cashback sites use affiliate marketing to make money. They partner with companies like Amazon or Snapdeal that are looking to make quick sales. If there’s a particular coupon, for example, on a product, a company will give that ad to a cashback site, so they might offer that promotion through their website, reaching more people (and making more sales). The retailer gives the cashback site a certain amount of money for advertising their product, and the cashback site gives a percentage of that revenue back to the consumer as an incentive to get them to shop.
So rather than buying a product directly from the company store, many are now surfing through cashback sites to see if they can buy that product through the cashback site to get a percentage of their purchase back. Similar to a rebate coupon.
How Does Ebates Work?
As I mentioned in the Dosh Vs Ebates comparison article, Ebates is one of the most popular cashback sites. Although the reviews are mixed, those who are successfully making extra cash report earning between $100-$1,000 per year. It directly depends on how much you buy using the cashback site.
Once you’re signed up for a free account, you can use Ebates to scroll through a variety of products. Ebates works with Best Buy, Petco, Barney’s, and more. They’ve got relationships with boutiques as well as stores that sell home and office supplies. The amount of variety is one of the reasons people find success on Ebates. Ebates users find a range of products that they would buy anyway and then earn money back through that. So many companies partner with Ebates because they know the cashback option drives more consumers to buy, so companies continue to offer these deals.
Reports show that Ebates places the money onto your account within seven days. However, you can only withdraw this money three times a year, through PayPal.
Besides, Ebates has been expanding their services. Offering a browser extension that keeps track of when users shop anywhere on the internet, Ebates will now notify you if there’s a coupon available for the product you’re trying to buy. Last year, Ebates even introduced a system that works with your credit card, so you can get rebates when you shop offline.
How Does Honey Work?
In 2012, MIT-trained entrepreneur Ryan Hudson created a prototype for Honey, a browser extension app that follows users around the internet and reminds them of existing coupons when they shop. The extension automatically finds and adds coupons to purchases. Honey works with more than 21,000 companies. The cashback feature of Honey is a recent addition but already popular.
Honey also relies on affiliate marketing to make money. As the company grows, so does the ability to attain new companies to work with.
Cashback companies that show growth are a good bet, as it’s unlikely they would go bankrupt before giving you your payouts. Cashback sites have been around for about ten years, so in the beginning, several small companies went under without distributing money to their clients. However, this rarely happens anymore. Investing in a big company will keep your money safe.
Reputation and Reviews of Cashback Sites
Both companies have success stories, and those claiming the system is a hoax. The consensus is if you figure out how to work the system, it can be profitable. It’s important to keep in mind that you won’t make a yearly salary using cashback sites. You might add a couple of hundred to your wallet though if you shop enough.
Customers who report making money through cashback sites and apps are usually customers who frequently shop anyway. By installing the apps that connect to phones and computers, they were able to easily find coupons and deals for what they wanted to buy. It’s a good program for those who buy their household supplies, office supplies, and love to online shop. Companies like Honey and Ebates eliminate the need to research and look through different websites for coupon codes. Buying a bulk stock of toilet paper with an Ebates coupon, for example, you might get something like five percent of your purchase back. Although that’s a few dollars, as you continue to buy, those dollars add up. Any free money is usually a good deal.
Other customers report that cashback websites work best if you use a credit card that also offers you points or cash back for shopping. Stacking points is popular among those who earn money online this way.
There are also drawbacks to cashback sites. Many users report that cashback sites don’t always have the best deal. Sometimes, you’ll get the product for less on another website. You might still have to shop around and see what the best deal is, before using a cashback site to buy. Also, you won’t get money back right away. Most places take weeks or even months to get you your cash. As many as 1 in 20 claims don’t get paid out, according to some analysis.
BBB Accreditation of Cashback Sites
Before you use any cashback site or app, check the reviews and accreditations. The Better Business Bureau (BBB) is usually a good indicator of whether you should trust a cashback site.
Honey is BBB accredited with an A+ rating and zero filed complaints. Ebates has been in business for 19 years and had a ton of reviews on the BBB website. The BBB has given Ebates an A+ rating as well, and consumers gave the company 4.5 out of 5 stars. Ebates does have more than 250 customer complaints registered with the website, although the company is good about responding to those complaints and resolving any issues.
Features and Benefits
Honey benefits
Both companies have the benefit of being big enough that they have thousands of retailers offering coupons through their websites. While you might not shop at every single one, they do offer a lot of choices when you buy.
Now that technology has expanded, consumers love Honey for the easy-to-use browser feature. Once you’re signed up, coupons will pop up on your browser as you shop. There’s also no question on how much money you’ll be getting back from each purchase. Honey displays the amount, and it is reinforced in the receipt. Some purchases qualify for “Honey Gold” points – which add up to extra dollar amounts given to you in gift card form.
Ebates benefits
Ebates recently installed a Cash Back button that is even less intrusive – so you don’t even notice you’re shopping through anywhere else, you’ll get the money back. This eliminates something online shoppers hate – extra steps. You no longer have to sign in or click a button to buy to go to the cashback site and buy through there, making the company even more popular and usable.
Start saving with Ebates today.
Ebates works with over 22,000 different retail websites including Amazon, Party City, Toms, UGG, Best Buy, Bobbi Brown, and more. They’ve got all of their daily deals listed on the website for users to find. Ebates has coupons for makeup, clothing, shoes, furniture, glasses, camping equipment, and even travel deals for hotels.
Click here to join Ebates today and get a $10 bonus.
What Stores are on Honey?
Amazon, Nike, Papa John’s, Nordstrom, Sephora, Bloomingdale’s, Kohl’s, and plenty of other department stores have coupons available through Honey. You can shop directly from the Honey app online and browse daily deals. Or, you can install the extension, which does track all of your online browsing, but Honey will prompt you if you come across an item that has a coupon. For example, if you’re browsing through the Kohl’s website and add an article to your cart, the Honey extension will pop up and tell you that there’s a coupon you can use if you shop through Honey.
How Much Can You Earn?
How much you earn directly depends on how much you shop. Those who buy online often report a total saving that runs anywhere from $10-$1,000 every year. It’s also good to check how often the cashback site allows you to access your earnings. Ebates allows you to earn slightly more, but only pays customers a few times a year, so it’s important not to miss those dates if you’re looking to make a profit.
Signing up to all of these cashback websites is free. Installing the apps is also free and easy.
Sign up for Ebates here and earn $10.
Refer a Friend Bonus
Both Honey and Ebates offer different sign-up bonuses. You can also get extra points for referring a friend through a link code that’ll be provided on your profile once you sign up. If you’re looking to sign up to a cashback site, a lot of different bloggers and websites have their referral links up. Often, cashback sites will give you a $10 sign up bonus, or a $10 gift card.
Customer Support
Not all cashback sites have excellent customer service. Small services don’t make as much money and therefore don’t hire enough people to work on customer service. Honey and Ebates both have excellent customer service ratings. It’s a good idea to check reviews before signing up to anything.
Which is better?
Both companies are awesome and help you to save money, but Ebates is the clear better cashback company.