Capital One Shopping vs. Honey: Which One Saves You More Money?

Quick look: Capital One Shopping vs. Honey

Capital One Shopping and Honey help online shoppers find deals and save money while making everyday purchases. But knowing which offers more value can be challenging as they seem quite similar.

I’ve dug deep into both products to help you understand how they work, and where each product excels. Since they’re both free to use, you can’t go wrong with either one, but why not use the tool that will save you the most money?

Online vs. in-store	Online only	Online only
Type of app	Mobile app (iOS and Android devices) and browser extension	Mobile app (iOS and Android devices) and browser extension
Redemption options	Gift cards	Gift cards, cash or PayPal shopping credits
Minimum cash out	$0.01 minimum of Shopping Credits	You can cash out once you earn enough PayPal Rewards for a gift card of your choice (1,000 points is equal to $10 gift card)
Rewards expiration	Capital One Shopping Credits don’t expire	PayPal Rewards don’t expire as long as your account has been active for a 12-month period
Best for...	Shoppers who prefer gift cards for redemption versus cashback rewards	You like to watch products and wait for the best price
	Learn more	Learn more

Similarities between Capital One and Honey

Capital One Shopping and Honey are very similar as they are both free browser extensions with a mobile app to help you save money when shopping online. Here’s how they are similar:

• Free browser extension: Both are 100% free, and easy to use browser extensions. Once you download the extension, they do the work for you when shopping like you normally do on your favorite sites. If there’s a deal available, it will populate automatically.
• Savings opportunities: Both provide multiple ways to save money including finding coupons, tracking prices of products, and paying rewards.
• Free mobile app: Both offer free mobile apps to help you find deals while on-the-go. You can either shop through the app directly or use the free browser extension Safari like you would on your desktop computer.
• Rewards programs: Capital One Shopping offers Capital One Shopping Credits when you make eligible purchases online, while Honey offers PayPal Rewards for eligible purchases. These rewards may have different names, but they work similarly. If you make a qualifying purchase, you could earn rewards. Once you earn enough rewards, you can use them on the available redemption options.
• Compare Amazon sellers: Both instantly compare options from different Amazon sellers when you’re browsing Amazon. This makes it easier to ensure you’re getting a deal.

Where Capital One Shopping shines

While Capital One Shopping and Honey are very similar, there are certain differences that make Capital One Shopping a better option:

• Larger product selection: If you want to search for a specific product across multiple retailers, Capital One Shopping offers a larger selection. For example, when searching for a specific pair of shoes I was interested in, I could quickly find eight savings options on Capital One’s site whereas Honey said it couldn’t find the product.
• Store comparisons: If Capital One Shopping finds a better deal at other retailers while you’re shopping, it will inform you of those deals. Honey only lets you know the deals at that store unless you search directly on their website.
• Shows better options on Amazon: If you’re shopping on Amazon, Capital One Shopping instantly shows better deals at other stores, when available. Honey only shows a price history, which is beneficial, but doesn’t save you money instantly.

Where Honey Shopping shines

There are some situations that make Honey a better option than Capital One Shopping, including:

• Redemption options: Honey offers several redemption options including cash back, gift cards, and PayPal shopping credits, whereas Capital One Shopping only offers gift cards. If you’re looking for extra cash to fill your tank or buy groceries, the cash back option may be your best bet.
• Price history: If price history is something you track, Honey will be your best bet. It’s one of the first features that pops up, letting you know the price history over the last 30, 60, or 120 days. For example, I searched for a pair of Converse shoes that had no price changes in the last 120 days, which made me feel better about paying full price, and I was able to activate cash back.
• Drop list: If you have an item you’re interested in but want a better price, you can add it to your Drop List on Honey and get instant notifications when the price changes. This is a great way to save money and be sure you don’t miss a great deal that may sell out fast.
• Referral bonus: Honey pays 500 PayPal Rewards points for each friend who signs up with your link and makes a qualifying purchase through Honey. Capital One Shopping has referral links but only for select users and they don’t state how much they pay for referrals.

Which money-saving app should you choose?

The best money-saving app between Capital One Shopping and Honey is the one that could help you reach your financial goals. Both apps have the same end goal of saving you money, but they accomplish this in slightly different ways.

The largest difference is the redemption options. If you don’t mind gift cards, Capital One Shopping offers a few more options when searching for individual products, versus just getting deals for the specific site you are on.

If you prefer cash back, Honey is the better option. It’s also better if you love looking at price history to determine if a product’s price may drop in the future. In addition, it has a Drop List you can add products to so you get alerted instantly when your desired price becomes available.

FAQs

Bottom line

There is no overall winner between Capital One Shopping and Honey, but you can see that both shopping tools have their benefits and drawbacks. To determine which offers the best option, you can search for a product on Capital One Shopping and Honey, but can ultimately only get the deal from one or the other.

However, you can double dip by using one of the best cash back credit cards to make your purchases. This way you’ll stack credit card rewards with rewards from money-saving apps.

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Capital One Shopping Benefits

• Capital One Shopping searches thousands of merchants to see if you're getting a great deal
• Don't miss out on a better price
• Search and apply coupon codes automatically
• Custom price drop alerts for products you've viewed or purchased

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