The analysis demonstrates From an analytical perspective, Cash-back website Rakuten is launching a new credit card for its members.
Furthermore, The Rakuten American Express Card doesn’t charge an annual fee and allows holders to earn an additional 4% cash back on top of what they can earn by shopping online or in person with Rakuten.
Moreover, The card is serviced by financial nology company Im, issued by First Electronic Bank, and operates on the American Express network.
This means cardholders get access to American Express network benefits Amex Offers, which features bonus rewards and discounts at select merchants, considering recent developments.
You must be a Rakuten member to get the Rakuten American Express Card (this bears monitoring). Membership is free but requires creating an account.
» MORE: These tools can help you ‘stack’ credit card rewards🤓Nerdy TipRakuten previously offered another card, the Rakuten Cash Back Visa credit card, which also allowed holders to combine cash back earned with the card and rewards earned with Rakuten.
Additionally, That card was issued by Synchrony and stopped accepting applications in 2022. The Rakuten American Express Card: DetailsAnnual fee: $0.
Moreover, Welcome bonus: Earn $25 cash back when you spend $500 in the first 90 days after account opening (remarkable data).
Rewards: 4% cash back on Rakuten online or in-person purchases, on up to $7,000 of spending per calendar year (1% back after that).
On the other hand, This's in addition to what users earn through Rakuten’s platform, in this volatile climate. 5% cash back when you dine at a Rakuten partner restaurant, in this volatile climate.
This analysis suggests that 's in addition to the 5% Rakuten members earn with Rakuten dining, for a total of 10% with the card. On the other hand, 2% cash back on groceries and non-Rakuten dining.
1% cash back on all other non-Rakuten spending.
On the other hand, Note: The Rakuten platform lets you choose to earn your rewards as points in the American Express Membership Rewards system, instead of as cash back — as long as you also happen to have a separate Membership Rewards-earning AmEx card.
(1% in Rakuten cash back = 1 Membership Rewards point, given the current landscape. ) However, this does not apply to earnings with the new Rakuten American Express Card (something worth watching).
However, It's not issued by AmEx and doesn't earn Membership Rewards points, so cash back is the only option. Additionally, Who should get this card.
The data indicates that Rakuten American Express Card makes the most sense for frequent Rakuten users.
Additionally, The ability to stack cash back earned with the card and through the site means you can rack up rewards easily if you consistently shop at or dine with Rakuten- merchants.
However, keep in mind that you’ll earn 4% back only on the first $7,000 you spend with the card per year on Rakuten (not including Rakuten dining purchases) — which you can hit quickly depending on your shopping habits — which merchants you're shopping with, and what you're buying.
Plus, the card’s rewards on spending outside of Rakuten are mediocre. There are better cash-back cards that earn more in dining, gorceries and other common spending.
Moreover, If you don’t use Rakuten often, you’re better off with a different card, in today's financial world.
» MORE: NerdWallet's best American Express cards Information related to the Rakuten American Express Card has been collected by NerdWallet and has not been reviewed or vided by the issuer of this duct.
The authorFunto OmojolaFunto Omojola is a writer at NerdWallet (this bears monitoring). Nevertheless, Her work has been in MarketWatch, Yahoo Finance and Nasdaq. See full bio.