AMEX Offers & Rakuten: Stack Up and Earn More AMEX Membership Rewards Points
I like Rakuten’s slogan. Photo credit: rakuten.com
I am a big fan of American Express (AMEX). With lucrative sign-up bonuses and unique charge/credit cards, I already have 7 cards with AMEX (2 charge cards and 5 credit cards). The main reason why I like AMEX so much is because of their versatile Membership Rewards (MR) points. Not unlike Chase’s Ultimate Rewards points, MR points are consistently valued at 2 cents per point when transferred to its transfer partners. I’ve found that I am more hesitant to redeem my MR points because of its versatility; I only want to redeem my hard-earned points when I see a really good deal. While researching ways to earn more MR points, I discovered Rakuten - a well-established cashback site that now offers MR points instead, and I can promise you that Rakuten will be your best MR point-earning supplement moving forward.
What is Rakuten?
Rakuten, formerly Ebates, is a very well-known cashback site for hundreds of online merchants. Rakuten is a Japanese company that acquired Ebates in September 2014 for one billion dollars. The way Rakuten operates its business is pretty straightforward; it acts as a giant marketing/advertising board for over 3,500 online merchants. When consumers purchase products through Rakuten, Rakuten receives a commission from retailers. Think of it as a small (negotiated) fee of appreciation for marketing and advertising businesses. Then, instead of keeping the commission, Rakuten splits a small portion with consumers who made eligible purchases. What Rakuten does is a win-win situation for both consumers and merchants. Merchants do not pay more to drive up their revenues, and consumers are getting extra cashback, just by clicking a link through Rakuten.
Rakuten acquired Ebates back in 2014. Photo credit: rakuten.com
How to use Rakuten & cashback delivery methods
Using Rakuten is very easy and intuitive. Go to rakuten.com, create your username and password, and select your preferred way of getting your cashback money by selecting either check or PayPal. I personally prefer PayPal so I don’t have to worry about a check being misdelivered or getting lost. Don’t forget to install the banner on your Internet browser or as a plug-in available on Google Chrome. This is especially important because when you visit a Rakuten compatible site, the banner will automatically appear to notify you if there is an opportunity to earn cash back, as well as showing you the percentage/amount you can earn for your purchases.
Rakuten sometimes offers specific cashback amounts. Photo credit: freshly.com
Earn more MR points using Rakuten
In late October 2019, a partnership between American Express and Rakuten began and new or existing Rakuten users could opt-in to switch their cashback option to the MR points option in their account settings page. In order to make the switch, you have to have one of AMEX’s MR earning cards, which include:
AMEX Platinum Card
AMEX Gold Card
AMEX Green Card
Blue from AMEX
AMEX EveryDay Preferred
AMEX EveryDay
I personally have both the AMEX Platinum Card and AMEX Green Card. The Platinum card earns 5X MR points on airfare and hotels booked through the AMEX travel portal and 1X MR points on all other purchases. The Green card earns 3X MR points on dining and travel, and the rest earns 1X MR points. By implementing Rakuten’s MR earning bonus, the humble 1X categories on most online purchases suddenly become more appealing. But wait, it doesn’t end there! You can also stack up AMEX offers to maximize your return.
Need to use your AMEX Platinum card’s bi-annual $50 Saks credit? Earn 10% more by using Rakuten. Photo credit: Saksfifthavenue.com
If you’d like to sign up for Rakuten, please consider using my referral link. It will continue to help fund my blog operations and help visitors make informed decisions to maximize their rewards. Click HERE to access my referral link. Thank you!
Earn even more MR points and cashback with AMEX offers
If you have any AMEX cards, you have access to exclusive AMEX offers. These are time-limited, activation based cashback / MR points offers that you can apply to your cards. If you have multiple AMEX cards, the same offer may appear on various AMEX cards. Be aware that once you activate an offer on one card, the same offer will no longer be available on the other card’s offer page. Unlike Rakuten, which only earns through online purchases, AMEX offers can be honored outside the internet, as long as offers were added to your qualified card before the physical purchase is made.
When used correctly, AMEX offers bring great value to cardmembers, and the return is even greater when combined with Rakuten. For instance, I see there is currently an AMEX offer for one additional MR point for each eligible dollar spent. I can combine this with the 4% cashback / MR points offer to truly maximize my earnings. If I spend $100 using my AMEX Platinum with these offers, I would earn 100 MR points with the normal multiplier, 100 more MR points for the AMEX offer, and 400 MR points for the 4% Rakuten offer because 1% Rakuten cashback equals 1 additional MR points per dollar. The cumulative increase from 1X to 6X is pretty impressive and worth taking advantage of.
One percent makes a big difference, but with Rakuten, this becomes even more lucrative. Photo credit: americanexpress.com
Stack up Rakuten and AMEX offers when possible to maximize your earning. Photo credit: bloomingdales.com
When can I get paid?
The only downside is that you will get paid at the end of every quarter. I personally do not mind it because the cashback/MR points I earn from Rakuten are usually not a game-changing amount. I also think it is more rewarding when you get a lump sum rather than small amounts here and there.
The payment schedule applies for both cashback and MR earning options. photo credit: rakuten.com
Be patient with Rakuten offers
I advise everyone to bide your time when utilizing Rakuten offers. Unless you need something urgently, I usually suggest waiting a bit longer if the cashback percentage or amount is on the low side. This is especially true if you are planning on making a large purchase, like a suit or electronics. Rakuten has fluctuating cashback/discount rates with some merchants, so be sure to keep an eye out for the best possible deal! For example, Lululemon only has final sale items, but with Rakuten you can get typically a 2% discount. However, a few months ago Rakuten offered an incredible 12% cashback rate. It didn’t last long, so keeping an eye out for higher than normal cashback rates can significantly add up your savings. I’ve seen very high cashback rates up to 10% or even 15%, and you will regret missing out on high return opportunities. In Japanese, Rakuten means optimism, which is perfect for my advice. Stay optimistic because better deals come very frequently!
Anything back at Lululemon is great, but if you are patient, you can earn more than 10% back. Photo credit: lululemon.com
As a seasoned online shopper, I wish I had known about Rakuten earlier. It’s a no-brainer for almost all online consumers since Rakuten shares the commission with you, and you are basically getting free money by supporting their business. I like their business model as it benefits both consumers and retailers. Rakuten’s collaboration with AMEX opened new MR points earning doors to AMEX cardholders. If you prefer MR points, make a switch and stack it up with AMEX offers to generate even greater returns.
If you’d like to sign up for Rakuten, please consider using my referral link. It will continue to help fund my blog operations and help visitors make informed decisions to maximize their rewards. Click HERE to access my referral link. Thank you!
