For today (December 17) only, Rakuten has increased the welcome offer on its new American Express credit card to $200 after $2,000 spend in the first 90 days.
The Offer & Key Card Details
| Card Offer and Details |
|---|
 $200 cash back Non-AffiliateThis is NOT an affiliate offer. We always present the best offer even when it means less revenue for Frequent Miler Earn $200 bonus cashback after $2,000 spend in the first 90 days Information about this card has been collected independently by Frequent Miler. The issuer did not provide the details, nor is it responsible for their accuracy. FM Mini Review: Earning 4% extra (or 4x Membership Rewards) on purchases via Rakuten is good, but the limit of $7,000 spending limits its usefulness. Earning rate: 5X extra on Rakuten Dining ✦ 4X extra on Rakuten purchases (limit $7k spend per calendar year) ✦ 2X groceries & restaurants ✦ 1x everywhere else Base: 1% Grocery: 2% Dine: 2% Brand: 4% Card Info: Amex issued by FEB. This card has no foreign currency conversion fees. Noteworthy perks: If you have another Amex card that earns Membership Rewards, you can change the earning preference on your Rakuten account to Membership Rewards as well. If you do this, the “cash back” earned via this card will be converted to Membership Rewards and deposited into your Amex account. |
Quick Thoughts
When the Rakuten American Express card launched earlier this year, the welcome offer was a meager $50. They soon increased that to $100, so it’s great to see it boosted again to $200, even if it is for one day only. Hopefully this won’t be the last time it gets increased and that $200 (or more) becomes the new standard offer.
Depending on your Rakuten earning preference, the welcome offer could be worth significantly more than $200. That’s because if your Rakuten account is set up to earn American Express Membership Rewards or Bilt points, the $200 bonus is effectively a 20,000 bonus points offer. That’s not amazing compared to the wealth of Membership Rewards you can earn from the welcome offers on other Amex cards, but it’s still a nice bonus if you were interested in getting the Rakuten card for its 4x earnings. Just remember that the 4x earning rate is only on purchases via Rakuten and it’s capped at $7,000 of spend per calendar year.
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