Earn Membership Rewards points with Rakuten's first-ever credit card
If you earn American Express Membership Rewards points with any of your cards (or want to), pay attention: Rakuten just unveiled a new credit card that allows cardholders to earn a bonus 4 points per dollar spent, on top of any Membership Rewards points you earn through the platform's special offers.
While this card is marketed as a cash-back card, a Rakuten spokesperson confirmed that those who have opted to earn Membership Rewards points through Rakuten can redeem their cash back for Membership Rewards points.
That's incredibly welcome news, especially since Amex's once-per-lifetime welcome bonus rules make it harder to earn Membership Rewards points versus other popular currencies.
Here's everything you need to know about the no-annual-fee Rakuten American Express® Card.
The information for the Rakuten American Express Card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Earn bonus Membership Rewards points
Savvy points and miles enthusiasts will tell you that one of the best ways to earn bonus Membership Rewards points is through Rakuten.
By activating offers, you can earn an extra heap of points on top of any you're already earning from your card's earning rates. Most of these bonuses are fairly standard, but we've seen some as high as 20 points per dollar spent.
To use this under-the-radar earning strategy, you'll need to manually opt to receive Membership Rewards points instead of cash back.
This isn't a free-for-all benefit, either; only those with a Membership Rewards points-earning card are eligible.
As long as you've elected to earn Membership Rewards points through Rakuten, the Rakuten American Express card can net you even more points with every purchase. With this card, you'll earn:
- 10 points per dollar spent (or 10% cash back) on Rakuten restaurant partners
- 4 points per dollar spent (or 4% cash back) on top of what you earn with Rakuten
- 2 points per dollar spent (or 2% cash back) on groceries and restaurants
- 1 point per dollar spent (or 1% cash back) on everything else
On top of this, you'll earn $25 back (or 250 points) after spending $500 in the first 90 days from account opening.
Since this card has no annual fee, this is an incredible earning structure.
If you luck out with a top-tier offer from Rakuten of 20 points per dollar spent, this card boosts that to a whopping 24 points per dollar spent. That's unheard of from any other card on the market.
Other Rakuten Amex card benefits
Those earning rates will likely sell most prospective cardholders, but the Rakuten Amex comes with other perks to pay attention to, as well:
- Amex Offers: Cardholders will gain access to Amex Offers. Amex Offers are a way to earn bonus cash back or Membership Rewards points with select merchants. These offers can be stacked with Rakuten for another boost to your points-earning.
- Retail protection: Covers items that are stolen or damaged within 90 days of purchase.
- Extended warranty protection: Eligible warranties can be extended by up to 12 months.
This is a solid set of benefits for a no-annual-fee card. Amex Offers can vary from card to card, so it'll be interesting to see what offers Rakuten Amex cardholders are targeted with and if they'll coincide with Rakuten offers.
Is the Rakuten Amex issued by American Express?
Despite having "American Express" in the name, the Rakuten Amex isn't issued by American Express.
Instead, Imprint manages the Rakuten Amex, with First Electronic Bank serving as its issuing partner. That means Imprint handles the application process and any customer service you'll need for your card.
It also likely means you won't be subject to American Express' application rules or welcome bonus restrictions. For instance, if you've already reached your five-card limit for Amex credit cards, you should still be able to open the Rakuten Amex.
My verdict on the Rakuten Amex
For a no-annual-fee card, the Rakuten Amex seems almost too good to be true. The opportunity to earn heaps of Membership Rewards points is hard to pass up.
I'm always a little hesitant to open cards from smaller issuers, since they seem to be more prone to problems and poor customer service. That said, I'm not against it if the product is worth it.
I'm adding the Rakuten Amex to my credit cards wish list, and I think any Membership Rewards points-earning cardholder should, too. That's especially true if you've already exhausted your Amex welcome bonuses.
Just remember that you'll need a Membership Rewards points-earning card to earn Membership Rewards points with your Rakuten Amex. Otherwise, you'll only earn cash back, severely reducing the value of this card.
A couple of great options include the American Express® Gold Card and The Platinum Card® from American Express.
If you're looking for an option with no annual fee, consider the The Blue Business® Plus Credit Card from American Express (see rates and fees) instead.
Bottom line
This is an exciting new initiative from Rakuten.
Transferable rewards currencies like Membership Rewards points are very valuable, so any chance to earn more points is always welcome. If you're already invested in using Rakuten to charge up your rewards-earning, this card is a no-brainer.
I plan on applying once my 5/24 status is in a better place, and I recommend that any points and miles enthusiasts consider doing the same.
Related: How to maximize online shopping portals for your purchases
For rates and fees of the Amex Blue Business Plus, click here.
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| 3X | Earn 3X Miles on Delta purchases. |
| 1X | Earn 1X Miles on all other eligible purchases. |
Pros
- Delta SkyClub access when flying Delta
- Annual companion ticket for travel on Delta (upon renewal)
- Ability to earn MQDs through spending
- Various statement credits for eligible purchases
Cons
- Steep annual fee of $650
- Other Delta cobranded cards offer superior earning categories
- Earn 100,000 Bonus Miles after you spend $6,000 or more in purchases with your new Card within the first 6 months of Card Membership and an additional 25,000 bonus miles after you make an additional $3,000 in purchases on the Card within your first 6 months, starting from the date that your account is opened. Offer Ends 04/01/2026.
- Delta SkyMiles® Reserve American Express Card Members receive 15 Visits per Medallion® Year to the Delta Sky Club® when flying Delta and can unlock an unlimited number of Visits after spending $75,000 in purchases on your Card in a calendar year. Plus, you’ll receive four One-Time Guest Passes each Medallion Year so you can share the experience with family and friends when traveling Delta together.
- Enjoy complimentary access to The Centurion® Lounge in the U.S. and select international locations (as set forth on the Centurion Lounge Website), Sidecar by The Centurion® Lounge in the U.S. (see the Centurion Lounge Website for more information on Sidecar by The Centurion® Lounge availability), and Escape Lounges when flying on a Delta flight booked with the Delta SkyMiles® Reserve American Express Card. § To access Sidecar by The Centurion® Lounge, Card Members must arrive within 90 minutes of their departing flight (including layovers). To access The Centurion® Lounge, Card Members must arrive within 3 hours of their departing flight. Effective July 8, 2026, during a layover, Card Members must arrive within 5 hours of the connecting flight.
- Receive $2,500 Medallion® Qualification Dollars with MQD Headstart each Medallion Qualification Year and earn $1 MQD for each $10 in purchases on your Delta SkyMiles® Reserve American Express Card with MQD Boost to get closer to Status next Medallion Year.
- Enjoy a Companion Certificate on a Delta First, Delta Comfort, or Delta Main round-trip flight to select destinations each year after renewal of your Card. The Companion Certificate requires payment of government-imposed taxes and fees of between $22 and $250 (for itineraries with up to four flight segments). Baggage charges and other restrictions apply. Delta Basic experiences are not eligible for this benefit.
- $240 Resy Credit: When you use your Delta SkyMiles® Reserve American Express Card for eligible purchases with U.S. Resy restaurants, you can earn up to $20 each month in statement credits. Enrollment required.
- $120 Rideshare Credit: Earn up to $10 back in statement credits each month after you use your Delta SkyMiles® Reserve American Express Card to pay for U.S. rideshare purchases with select providers. Enrollment required.
- Delta SkyMiles® Reserve American Express Card Members get 15% off when using miles to book Award Travel on Delta flights through delta.com and the Fly Delta app. Discount not applicable to partner-operated flights or to taxes and fees.
- With your Delta SkyMiles® Reserve American Express Card, receive upgrade priority over others with the same Medallion tier, product and fare experience purchased, and Million Miler milestone when you fly with Delta.
- Earn 3X Miles on Delta purchases and earn 1X Miles on all other eligible purchases.
- No Foreign Transaction Fees. Enjoy international travel without additional fees on purchases made abroad.
- $650 Annual Fee.
- Apply with confidence. Know if you're approved for a Card with no impact to your credit score. If you're approved and you choose to accept this Card, your credit score may be impacted.
- Terms Apply.
- See Rates & Fees