Rakuten offering 3x Amex points, cash back for Memorial Day at select stores

May 29, 2021

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Popular online shopping portal Rakuten has a Memorial Day promotion offering a generous 3x (or more) the ordinary cash back or Amex points rate on purchases at participating retailers.

Heading to your favorite retailer’s website first without doing this one small step to your online shopping plan is equivalent to leaving free points or cash on the table.

Rakuten — formerly known as Ebates — allows you to select either cash back or American Express Membership Rewards points when you shop online. If you’re looking to take advantage of Rakuten’s holiday weekend promo (or simply looking to make the most of your online purchases), now could be a great time to get ahead of your upcoming summer purchases.

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What you need to know

(Screenshot courtesy of Rakuten)

The promotion runs from today through Monday and features 84 retailers on the sale page for in-store and online purchases. Stores are offering 3% – 22.5% cash back (or 3x – 22.5x Amex points). Noteworthy retailers that are offering a nice return rate on purchases are:

  • Forever 21 15%
  • New Balance Factory Store 12%
  • Michaels 10%
  • Adidas 9%
  • Dell 8% (stack with Amex Biz Platinum Dell credit and Dell Rewards)
  • Macy’s 6%
  • Nike at 6%
  • Banana Republic 6%
(Screenshot courtesy of Rakuten)

In 2019, Rakuten added the ability to earn American Express Membership Rewards instead of cash back, proving lucrative as TPG values Amex points at 2 cents each, effectively doubling the cash back rate Rakuten offers.

Use the right credit card

The rewards you earn through Rakuten are in addition to the points or miles on the actual rewards credit card you use, allowing you to double-dip your rewards. So it’s important to use the right credit card when making online purchases and pay attention to any bonus categories that might apply to the merchant at which you’re shopping. If there’s no additional bonus or discount potential, you’ll want to use a card that has high earning rates on everyday spending.

Related: Your guide to maximizing shopping portals for your online purchases

Bottom line

If you have purchases coming up, this weekend may be optimal for making them with Rakuten’s promo offers. This promotion is an easy way to boost your rewards, but you’ll need to act fast as it’ll only be available until Monday.

Additional reporting by Juan Ruiz.

Featured image by LWA/Getty Images.

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