AwardWallet receives compensation from advertising partners for links on the blog. Terms Apply to the offers listed on this page. The opinions expressed here are our own and have not been reviewed, provided, or approved by any bank advertiser. Here's our complete list of Advertisers.
Offers for The Blue Business® Plus Credit Card from American Express and American Express® Gold Card are not available through this site. All information has been independently collected by AwardWallet and has not been reviewed or provided by the card issuer. Some offers may have expired. Please see our card marketplace for available offers.
It just got a lot more rewarding to sign-up for Rakuten. American Express cardholders now have the option to earn 3,000 bonus points when creating a new Rakuten account and switching their earning preference to receive Membership Rewards points. That's double the typical sign-up bonus.
Last month, Rakuten had the offer to both gift and receive $30 or 3,000 bonus points to a linked American Express account when referring a friend. Now, this deal is available even if you weren't referred.
Steps to Redeem Offer
- Open a new Rakuten account
- Link your American Express Membership Rewards (MR) earning card
- Switch your account to receive Membership Rewards points
- Spend $25 within 90 days of opening your account to earn 3,000 bonus points
How Rakuten Works
Founded in the late 1990s, Rakuten is one of the first—and largest—online shopping portals. Like any shopping portal, Rakuten earns a commission for referring customers to its affiliated merchants. This commission is then shared—in part—with its members in the form of “Cash Back”.
To earn Cash Back, start by navigating to Rakuten.com. After confirming that you're logged into your account, search for your desired store.
If the store is eligible for Cash Back, you'll see the percentage displayed with its name. Simply use Rakuten's link to navigate to the store and complete your purchase as usual. Once the store has notified Rakuten of your purchase, you'll see the Cash Back appear in your account.
Earning Membership Rewards Points Instead of Cash Back
Starting last year, Rakuten began a partnership with American Express, giving Amex customers with a Membership Rewards earning card—such as The Blue Business® Plus Credit Card from American Express or American Express® Gold Card—the ability to earn Membership Rewards points instead of cashback.
Effectively, the “Cash Back” percentages listed for a vendor are the equivalent to how many Membership Rewards you'll earn for every dollar spent. This means that if a vendor lists 15% Cash Back, you can opt in to receive 15X Membership Rewards points from your purchase.
How To Earn Membership Rewards
If you'd like to change your payment option from cashback to Membership Rewards, first make sure that you've added a qualifying MR-earning card to the ‘My Wallet‘ section in your account settings.
The Membership Rewards option will appear in the main section of your account settings, under the ‘How would you like to get paid?' heading. You can toggle between any of the payment methods. Note that your selected payment method will apply to all future purchases, not to purchases you already made.
If you value Membership Rewards points at more than 1¢ each, then you should switch your Rakuten earning preference to earning points instead of cashback.
The Rakuten shopping portal has hundreds of stores to shop, such as Macy's, Kohl's, Amazon, and Overstock. Receiving up to 20x bonus American Express points on these purchases is a sweet deal.
With so much time being spent at home these days and online purchases at an all-time high, you should definitely be using an online shopping portal to receive the best discounts and earn membership reward points. If you're an American Express MR-earning cardholder, Rakuten is a great option.
The comments on this page are not provided, reviewed, or otherwise approved by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.