Rakuten's New Credit Card: A Membership Rewards Game Changer?!
Hey friends, Philip here from Points of Phillip! I'm feeling a little under the weather, but I had to share this news with you. Rakuten just dropped a brand-new co-branded credit card, and it's got me seriously hyped!
First things first, if you're new here, hit that like and subscribe button! It really helps me out, and you'll stay in the loop on all things points and miles. And to my loyal subscribers, thanks so much for the continued support – you guys are the best!
Rakuten + Amex = Rewards Gold?!
Okay, so I opened my Rakuten app this morning, and there it was: an offer for the new Rakuten credit card on the American Express network. Now, here's the deal: it's not issued directly by Rakuten or Amex. It's actually through a company called Imprint, with First Electronic Bank as the issuer. A few moving parts, but here's the key takeaway:
No Annual Fee!
4% Extra Cashback! On top of whatever Rakuten is already offering.
Basically, you're getting extra rewards on top of rewards.
Let's Break It Down
Imagine you're shopping at Macy's, and Rakuten is offering 5% cashback.
Click through the Rakuten portal.
Use this new Rakuten credit card.
BAM! You get the 5% from Rakuten PLUS an extra 4% from the card, for a total of 9% back!
If you shop retail regularly, this is HUGE!
Are You Maximizing Your Rewards?
Ever wonder if you're using the right credit card for every purchase? You could be leaving points on the table! That's where Max Rewards comes in. It's an app that links to your credit cards and gives you personalized recommendations to maximize your points, miles, and cash back.
Plus, it activates those valuable Amex and Chase offers. Last year, I saved $200 on a Waldorf Astoria stay simply by having Max Rewards Gold!
I'm so excited about this app that I scored a special deal for my viewers. Use code Phillip for 3 months or 25% off a yearly Max Rewards Gold subscription.
Don't Forget Rakuten Dining!
There's also Rakuten Dining. Earn 5% cashback or Membership Rewards points per dollar at participating restaurants. Use this card through the Rakuten Dining portal, and you're looking at a total of 10% back!
The card also earns 2% back on groceries and restaurants and 1% on everything else.
The Membership Rewards Secret Weapon?!
Now, if you already link your Rakuten account to an Amex card, you can get your Rakuten rewards as Membership Rewards points. But here's where things get REALLY interesting...
I dug into the terms and conditions, and it looks like the rewards from THIS Rakuten card are issued by Rakuten. This means... could this be a sneaky way to earn SERIOUS Membership Rewards points on everyday spending?!
Imagine earning 4 MR points per dollar on top of Rakuten's offers, all with a no-annual-fee card!
I'm going to test this out and report back, but if it's true, this could be a game-changer. Think 5 MR points per dollar on Marriott stays through Rakuten – suddenly, you're earning like you have the Amex Platinum, without the hefty fee!
Rakuten 101: How It Works
For those new to Rakuten, here's the quick rundown:
Head to the Rakuten website, app, or browser extension.
Click through to a partner store (like Dell, Macy's, etc.).
Make your purchase.
Important: Don't activate any other browser extensions! Stick with the Rakuten link, or you won't get your cashback.
Heads Up: Rakuten pays out quarterly, so you won't get instant gratification. Also, some cashback (like with Viator) won't be released until after your experience.
Amex Perks FTW!
Being on the Amex network comes with perks! You'll get access to Amex Offers, letting you stack even more rewards on top of your Rakuten cashback.
Plus, you get:
Retail Protection: Coverage on eligible items damaged or stolen within 90 days of purchase.
Extended Warranty: Doubles the original manufacturer's warranty up to 12 months!
The Verdict?
This card could be BETTER than the Amex Gold, at least for earning Membership Rewards points. I'll be testing it out soon, so stay tuned!
Thanks for hanging out with me!