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.
TPG featured card
Rewards
| 4X | Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 4X | Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 3X | Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com. |
| 2X | Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com. |
| 1X | Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases. |
Intro offer
Annual Fee
Recommended Credit
Why We Chose It
There’s a lot to love about the Amex Gold. It’s a fan favorite thanks to its fantastic bonus-earning rates at restaurants worldwide and at U.S. supermarkets. If you’re hitting the skies soon, you’ll also earn bonus Membership Rewards points on travel. Paired with up to $120 in Uber Cash annually (for U.S. Uber rides or Uber Eats orders, card must be added to Uber app and you can redeem with any Amex card), up to $120 in annual dining statement credits to be used with eligible partners, an up to $84 Dunkin’ credit each year at U.S. Dunkin Donuts and an up to $100 Resy credit annually, there’s no reason that foodies shouldn’t add the Amex Gold to their wallet. These benefits alone are worth more than $400, which offsets the $325 annual fee on the Amex Gold card. Enrollment is required for select benefits. (Partner offer)Pros
- 4 points per dollar spent on dining at restaurants worldwide and U.S. supermarkets (on the first $50,000 in purchases per calendar year; then 1 point per dollar spent thereafter and $25,000 in purchases per calendar year; then 1 point per dollar spent thereafter, respectively)
- 3 points per dollar spent on flights booked directly with the airline or with amextravel.com
- Packed with credits foodies will enjoy
- Solid welcome bonus
Cons
- Not as useful for those living outside the U.S.
- Some may have trouble using Uber and other dining credits
- You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $6,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
- Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
- Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com.
- Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
- $120 Uber Cash on Gold: Add your Gold Card to your Uber account and get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an American Express Card for your transaction. That’s up to $120 Uber Cash annually. Plus, after using your Uber Cash, use your Card to earn 4X Membership Rewards® points for Uber Eats purchases made with restaurants or U.S. supermarkets. Point caps and terms apply.
- $84 Dunkin' Credit: With the $84 Dunkin' Credit, you can earn up to $7 in monthly statement credits after you enroll and pay with the American Express® Gold Card at U.S. Dunkin' locations. Enrollment is required to receive this benefit.
- $100 Resy Credit: Get up to $100 in statement credits each calendar year after you pay with the American Express® Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases. That's up to $50 in statement credits semi-annually. Enrollment required.
- $120 Dining Credit: Satisfy your cravings, sweet or savory, with the $120 Dining Credit. Earn up to $10 in statement credits monthly when you pay with the American Express® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Enrollment required.
- Explore over 1,000 upscale hotels worldwide with The Hotel Collection and receive a $100 credit towards eligible charges* with every booking of two nights or more through AmexTravel.com. *Eligible charges vary by property.
- No Foreign Transaction Fees.
- Annual Fee is $325.
- Terms Apply.
Rewards Rate
| 4X | Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 4X | Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 3X | Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com. |
| 2X | Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com. |
| 1X | Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases. |
Intro Offer
You may be eligible for as high as 100,000 Membership Rewards® Points after spending $6,000 in eligible purchases on your new Card in your first 6 months of Membership. Welcome offers vary and you may not be eligible for an offer.As High As 100,000 points. Find Out Your Offer.Annual Fee
$325Recommended Credit
Credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.Excellent to Good
Why We Chose It
There’s a lot to love about the Amex Gold. It’s a fan favorite thanks to its fantastic bonus-earning rates at restaurants worldwide and at U.S. supermarkets. If you’re hitting the skies soon, you’ll also earn bonus Membership Rewards points on travel. Paired with up to $120 in Uber Cash annually (for U.S. Uber rides or Uber Eats orders, card must be added to Uber app and you can redeem with any Amex card), up to $120 in annual dining statement credits to be used with eligible partners, an up to $84 Dunkin’ credit each year at U.S. Dunkin Donuts and an up to $100 Resy credit annually, there’s no reason that foodies shouldn’t add the Amex Gold to their wallet. These benefits alone are worth more than $400, which offsets the $325 annual fee on the Amex Gold card. Enrollment is required for select benefits. (Partner offer)Pros
- 4 points per dollar spent on dining at restaurants worldwide and U.S. supermarkets (on the first $50,000 in purchases per calendar year; then 1 point per dollar spent thereafter and $25,000 in purchases per calendar year; then 1 point per dollar spent thereafter, respectively)
- 3 points per dollar spent on flights booked directly with the airline or with amextravel.com
- Packed with credits foodies will enjoy
- Solid welcome bonus
Cons
- Not as useful for those living outside the U.S.
- Some may have trouble using Uber and other dining credits
- You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $6,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
- Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
- Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com.
- Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
- $120 Uber Cash on Gold: Add your Gold Card to your Uber account and get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an American Express Card for your transaction. That’s up to $120 Uber Cash annually. Plus, after using your Uber Cash, use your Card to earn 4X Membership Rewards® points for Uber Eats purchases made with restaurants or U.S. supermarkets. Point caps and terms apply.
- $84 Dunkin' Credit: With the $84 Dunkin' Credit, you can earn up to $7 in monthly statement credits after you enroll and pay with the American Express® Gold Card at U.S. Dunkin' locations. Enrollment is required to receive this benefit.
- $100 Resy Credit: Get up to $100 in statement credits each calendar year after you pay with the American Express® Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases. That's up to $50 in statement credits semi-annually. Enrollment required.
- $120 Dining Credit: Satisfy your cravings, sweet or savory, with the $120 Dining Credit. Earn up to $10 in statement credits monthly when you pay with the American Express® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Enrollment required.
- Explore over 1,000 upscale hotels worldwide with The Hotel Collection and receive a $100 credit towards eligible charges* with every booking of two nights or more through AmexTravel.com. *Eligible charges vary by property.
- No Foreign Transaction Fees.
- Annual Fee is $325.
- Terms Apply.