Rakuten Amex evaluation: Nice for Membership Rewards followers

Rakuten Amex overview

The Rakuten American Categorical® card can earn highly effective Membership Rewards factors or money again, permitting you to flex it to your pockets and technique. When paired with Rakuten’s purchasing portal, this card can earn an distinctive quantity of rewards per greenback spent. It is highly effective in the appropriate arms, however it might not be the most suitable choice for individuals who aren’t invested in Membership Rewards. Card score*: ⭐⭐⭐½

*Card score is predicated on the opinion of TPG’s editors and isn’t influenced by the cardboard issuer.

---

Digging into the small print of the Rakuten American Categorical left me extra enthusiastic about it than I’ve felt about most up-to-date card launches. At first look, it does not appear to be a card that will match my technique, as I usually go for transferable rewards playing cards.

The Rakuten Amex is marketed as a cash-back card, however cardholders with a Membership Rewards-earning card can decide to earn these factors as an alternative. I am a cardmember of each the American Categorical Platinum Card® and the American Categorical® Gold Card, and I already earn Membership Rewards factors by way of Rakuten’s purchasing portal.

That makes this card appear to be a tailored match for my pockets. Different Membership Rewards cardmembers ought to pay an equal quantity of consideration to the Rakuten Amex because it may doubtlessly earn quite a few bonus factors for his or her travels.

As a result of this card has no annual price, you need to have a superb likelihood of approval with a credit score rating of 670 or larger.

Let’s dig deeper into what makes the Rakuten Amex so intriguing.

The knowledge for the Rakuten American Categorical card has been collected independently by The Factors Man. The cardboard particulars on this web page haven’t been reviewed or supplied by the cardboard issuer.

Rakuten Amex professionals and cons

Rakuten Amex welcome provide

New Rakuten Amex cardholders can earn a bonus of $100 money again after spending $1,000 within the first 90 days of account opening.

Most no-annual-fee playing cards don’t have any or poor welcome provides. The Rakuten Amex’s welcome bonus is not extraordinary, however it’s stable. You may solely should spend round $333 every month to earn this welcome bonus, which must be possible for almost all of cardholders.

First Digital Financial institution is the issuing accomplice for this card. It is managed by Imprint, which handles processing all purposes.

Since this card is not formally issued by Amex, it will not be topic to the identical utility guidelines that Amex makes use of for its playing cards. Which means you could possibly earn a couple of Rakuten Amex welcome bonus in a lifetime, and it seemingly will not depend towards Amex’s restrict of 5 bank cards.

Rakuten Amex advantages

This card’s essential attraction lies in its incomes charges, however it provides some extra advantages. No-annual-fee playing cards usually have restricted perks, so I will take no matter I can get if it goes past credit score rating monitoring and fraud safety.

As a cardholder, you may have entry to:

• Amex Presents: Amex Presents provide you with bonus rewards for purchasing at choose retailers. I have already got entry to this by way of my two Amex playing cards, however I am completely happy to obtain this perk on the Rakuten Amex since Amex Presents usually differ from card to card.
• Amex Experiences: Cardholders can entry unique experiences at a variety of occasions, together with concert events, sporting occasions and theatrical productions.
• Retail safety: You may be protected in case your buy is broken or stolen inside 90 days of buy.
• Prolonged guarantee safety: This protection doubles the producer’s current guarantee, as much as 12 months.

The Rakuten Amex shines essentially the most when used for purchasing, so retail safety and prolonged guarantee protection are nice advantages to have.

Incomes rewards with the Rakuten Amex

That is the half the place it actually will get attention-grabbing. Listed here are the Rakuten Amex’s base incomes charges:

• 10% money again (or 10 factors per greenback spent) at Rakuten Eating companions
• 4% money again (or 4 factors per greenback spent) on Rakuten purchasing portal purchases (on as much as $7,000 of spending annually, then 1% again or 1 level per greenback spent)
• 2% money again (or 2 factors per greenback spent) at grocery shops and different eating places
• 1% money again (or 1 level per greenback spent) on the whole lot else

Keep in mind, you may want a Membership Rewards-earning card to earn factors. The Amex Platinum and the Amex Gold are nice choices.

Or, you could possibly go for The Blue Enterprise® Plus Credit score Card from American Categorical if you wish to earn factors for no annual price (see charges and costs).

The rewards earned in your Rakuten Amex can stack with what you earn by way of Rakuten’s purchasing portal.

Rakuten provides some unimaginable bonuses, typically as excessive as 20% money again (or 20 factors per greenback spent). Which means sure purchases made together with your Rakuten Amex by way of Rakuten’s portal may earn as a lot as 24% money again (or 24 factors per greenback spent).

We solely see incomes charges as excessive as 24 factors per greenback spent with resort playing cards, and the factors they earn aren’t almost as invaluable as Membership Rewards factors. In keeping with TPG’s October 2025 valuations, Membership Rewards factors are value 2 cents per level.

Because of Amex’s once-per-lifetime rule for incomes welcome bonuses, incomes Membership Rewards factors could be difficult after you have checked off all out there welcome provides. The Rakuten Amex could be a improbable resolution to that downside.

I do not advocate utilizing this card for grocery shops or eating (besides at Rakuten Eating companions) since you will get higher charges with different playing cards. However I am unable to consider a draw back to utilizing this card when purchasing by way of Rakuten, except you anticipate to spend past $7,000 in a yr on the portal.

Associated: How I earned nearly 30,000 Amex Membership Rewards factors with assist from Rakuten

Redeeming and transferring rewards with the Rakuten Amex

How one can redeem your rewards will depend on the way you select to obtain them. For those who decide to earn money again, you’ll be able to redeem your rewards for a present card at any time or obtain quarterly payouts as a examine or to your PayPal account.

For those who select to earn Membership Rewards factors as an alternative, your factors will robotically be transferred to your Membership Rewards account as soon as each three months, supplied you could have a minimum of 501 confirmed factors in your account.

Whereas these restrictions are a little bit irritating, I am unable to complain an excessive amount of, provided that the Rakuten Amex has no annual price and the Rakuten purchasing portal is free to make use of.

Membership Rewards factors could be redeemed in quite a lot of methods, together with for assertion credit, reward playing cards, money again and at Amazon checkout. They will also be transferred to Amex’s 20 airline and resort companions, which offers you essentially the most worth.

When transferring your factors, TPG estimates you may obtain 2 cents per level in worth. Since my most well-liked resort model, Hyatt, is not a Membership Rewards switch accomplice, I normally use my factors for flights. For instance, I transferred simply over 17,000 factors to Air Canada final yr to go to Vancouver, British Columbia, for Christmas from the Pacific Northwest.

Associated: Amex Membership Rewards switch companions: Redeem your factors with airways and inns

Which playing cards compete with the Rakuten Amex?

For those who do not suppose the Rakuten Amex is smart to your pockets, take into account one among these playing cards as an alternative:

• In order for you a no-annual-fee card issued by Amex: The Blue Enterprise Plus has no annual price however nonetheless earns Membership Rewards factors. Its incomes charges aren’t as doubtlessly profitable because the Rakuten Amex, however their simplicity could also be extra enticing to sure individuals. To study extra, try our full evaluation of the Blue Enterprise Plus.
• In order for you a greater card for U.S. supermarkets and eating places: The Amex Gold earns 4 factors per greenback spent at U.S. supermarkets* and eating places worldwide**. Whereas it has a $325 annual price (see charges and costs), it provides a number of assertion credit to offset that value. To study extra, try our full evaluation of the Amex Gold.
• For those who’d slightly earn Final Rewards factors as an alternative: We frequently advocate the Chase Sapphire Most popular® Card (see charges and costs) for its well-rounded bonus classes and entry to Chase’s 13 switch companions. This card permits me to guide resort stays with Hyatt, arguably essentially the most invaluable resort loyalty program. To study extra, try our full evaluation of the Sapphire Most popular.

For extra choices, try our picks for the very best playing cards for on-line purchasing and eating.

*For U.S. grocery store purchases, you may earn 4 factors per greenback on as much as $25,000 in spending every calendar yr, then 1 level per greenback.
**For worldwide eating places, you may earn 4 factors per greenback on as much as $50,000 in spending every calendar yr, then 1 level per greenback.

Associated: Chase Sapphire Most popular vs. Amex Gold: Which mid-tier favourite is best for you?

Is the Rakuten Amex value it?

For those who’re invested within the Membership Rewards program, I like to recommend the Rakuten Amex.

For those who’re on this card for the money again, it may be a invaluable possibility, however I recommend evaluating it towards different cash-back playing cards earlier than committing. Since this card requires possession of a Membership Rewards-earning card to earn these factors, this card will not be a superb match for a newbie who has but to enter Amex’s ecosystem.

Backside line

I am attempting to get my 5/24 standing in a great place; in any other case, I would apply proper now for the Rakuten Amex. It is an excellent possibility for Membership Rewards lovers since it may possibly earn a pile of factors per greenback spent when paired with the appropriate Rakuten provide.

The $7,000 spending cap on bonus-earning within the Rakuten portal might frustrate excessive spenders, however I do not suppose it is an enormous detriment, contemplating this can be a no-annual-fee card. I am desperate to ultimately apply for this card and see the way it can enhance my rewards.

Associated: Earn factors, miles or money again: maximize on-line purchasing portals to your purchases

For charges and costs of the Blue Enterprise Plus, please click on right here.
For charges and costs of the Amex Gold, please click on right here.