Use Rakuten & Earn AMEX Membership Rewards Points
As an enthusiast of American Express (AMEX), my appreciation largely stems from the adaptability of their Membership Rewards (MR) points. Valued at an impressive 2 cents each, these points shine brightest when allocated to AMEX's array of travel partners. Nevertheless, the high value of MR points makes me cautious about redeeming them, and I'm inclined to wait for truly exceptional deals. To maximize earnings for my MR points, I have been using Rakuten—a reputable cashback platform that has the option to earn MR points, enhancing my collection strategy. I'm confident that Rakuten will become an indispensable tool for maximizing your Membership Rewards earnings:
Utilizing Rakuten can increase your cashback bonus when you shop online. Photo by Rakuten.
What is Rakuten?
Rakuten, renowned for its cashback offerings, partners with a plethora of online retailers in a remarkably transparent model. It serves as a marketing conduit, funneling shoppers to thousands of online stores. In exchange for directing traffic to these retailers, Rakuten earns a commission—a token of gratitude for its promotional efforts. Rather than pocketing the entire marketing fee, Rakuten shares a portion with its users who make qualifying purchases. This creates a mutually beneficial scenario; retailers boost their sales without additional marketing costs, while shoppers enjoy the perk of extra cashback simply by initiating their shopping through Rakuten’s links.
How to Use Rakuten & Cashback Delivery Methods
Navigating Rakuten's platform is a breeze. Simply visit rakuten.com, set up your account with a username and password, and choose how you'd like to receive your cashback—via check or PayPal. I lean towards PayPal for its convenience and security, eliminating concerns about postal mishaps or lost checks. Make sure to also add the Rakuten extension to your browser, particularly on Google Chrome. With the extension tool in place, any Rakuten-affiliated site you visit will trigger a prompt, alerting you to cashback opportunities and displaying the potential earnings for your shopping.
Rakuten is a great platform to save extra money when shopping online. Photo by Rakuten.
Earn More MR Points Using Rakuten
Beyond cashback earnings, Rakuten presents a valuable partnership with AMEX, allowing both new and current users to convert their cashback rewards into MR points. The switch can be easily done through the account settings page on Rakuten. In order to make the switch, you have to have one of AMEX’s MR earning cards, which include:
AMEX Platinum and its variations
AMEX Gold
AMEX Green
Blue from AMEX
AMEX EveryDay Preferred
AMEX EveryDay
AMEX Business Platinum
AMEX Business Gold
AMEX Business Green
Blue Business Plus
Switching to Rakuten's MR option can amplify the rewards on everyday spending with AMEX cards that typically offer lower multipliers. For example, while the AMEX Platinum card provides 5X MR points on flights and hotels booked via AMEX's travel service, it yields only 1X MR points on other transactions. Adopting Rakuten's MR points system can enhance the attractiveness of the 1X points category for online purchases. Furthermore, you can leverage AMEX offers to compound your rewards, optimizing your overall returns.
Rakuten allows AMEX users to earn MR points, but cardmembers must adjust their account settings. Photo by Rakuten.
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
Holding an AMEX card grants you the privilege of accessing unique AMEX offers. These special, time-sensitive incentives provide additional cashback or MR points upon activation. Often, if you hold multiple AMEX cards, you may see the same promotion across several accounts. However, activating an AMEX offer on one card removes it from the others. Unlike Rakuten's online-only earning model, AMEX offers are redeemable in-store, provided you've added the offer to your card prior to the transaction.
Stack up Rakuten savings with AMEX offers whenever possible to maximize your earning. Photo by AMEX.
When leveraged effectively, AMEX offers can significantly enhance a cardmember's value, especially when used in tandem with Rakuten. For example, let's say there's an active AMEX offer granting an extra MR point per dollar spent. This can be strategically combined with a Rakuten offer of 4% back in MR points. On a $100 spend with my AMEX Platinum, I'd earn the standard 100 MR points, an additional 100 MR points from the AMEX offer, and 400 MR points from Rakuten's 4% (where 1% cashback is equivalent to 1 MR point per dollar spent). This effectively boosts my earning rate from 1X to a substantial 6X, which is an excellent return on spending.
When Will I Be Paid?
The only minor inconvenience is the quarterly payout schedule. However, I find this to be a non-issue since the cashback or MR points accumulated from Rakuten typically don't constitute a significant sum. Additionally, there's a certain satisfaction in receiving a substantial lump sum as opposed to smaller, sporadic amounts.
The payment schedule applies for both cashback and MR earning options. Photo by Rakuten.
Be Patient with Rakuten Offers
I recommend exercising patience with Rakuten's offerings. Hold off on purchases if the current cashback rate is modest, especially for substantial buys like suits or electronics. Rakuten's rates with certain merchants can vary, so it pays to watch for peak deals. Take Petsmart, for instance: typically, they generally offer a 2% discount through Rakuten, but there have been instances of a short-lived but exceptional 12% cashback offer. Monitoring for these spikes can lead to significant savings—missing out on cashback rates as high as 10% to 15% could be a source of regret. The term 'Rakuten' translates to 'optimism' in Japanese, echoing my sentiment: stay hopeful, as more advantageous offers are always on the horizon.
Getting anything back is great, but sometimes you can earn more than 10% back if you are patient. Photo by Rakuten.
Reflecting on my own experiences as an online shopper, I wish I had discovered Rakuten sooner. For anyone shopping online, it's an effortless way to earn either cashback or MR points—essentially receiving free money for purchases you would make anyway. Their business model is a win-win for both customers and retailers. Additionally, Rakuten's alliance with AMEX has opened up a new avenue for cardholders to accrue MR points. If MR points are your preference, switch your cashback to points and stack these with AMEX offers for an even higher yield.
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!
