Limited-Time Offer: Earn 3,000 MR Points or $30 Cashback with Rakuten
When people ask me what credit cards I recommend, I always recommend starting with credit cards that earn versatile points. Usually, big issuers offer credit cards that qualify for the criteria, and some Citi, American Express (AMEX), and Chase credit cards earn ThankYou points, Membership Rewards (MR) points, and Ultimate Rewards (UR) points, respectively. These points can be redeemed as cashback or can be transferred to various hotel and airline travel partners to achieve even greater redemption values. Let’s take Chase’s Freedom Flex Card for an example. Even though it is a no-annual-fee card, the Freedom Flex Card earns 5% back on rotating categories, 3% back on dining and drug stores, and 1% back on everything else. The card is originally advertised as a cashback card since it earns UR points, which can be redeemed towards a statement balance at 1 cent per point. However, if you carry Chase’s other premium cards, you can transfer them to numerous airlines and hotel travel partners and can redeem UR points up to 2 cents per point.
Earning AMEX MR points can yield amazing travel opportunities when transferred to AMEX’s travel partners!
Of course, you can land on even greater redemptions when the opportunity aligns. I recently used my MR points to book a trip for two to Nice, France, by transferring 140,000 MR points to Delta. I paid $226.50 in taxes and fees for the tickets, but had I paid with cash, they would’ve cost me $3,040. The cents-per-point rate was 2.01 cents per point, which indicates the points were well spent since each Delta Skymiles is worth about 1.1 cents per point.
You can pay with cash, but tickets can be really expensive during peak traveling times. Photo credit: www.google.com
Though I accrue lots of MR points from everyday expenses like dining and groceries (thanks to my AMEX Gold Card), another great way to double-dip on MR earning opportunities is to use 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.
Use my referral link to earn $30 when you use Rakuten for the first time! Photo credit: www.rakuten.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!
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 cashback, as well as showing you the percentage/amount you can earn for your purchases. On top of that, Rakuten automatically searches and applies coupons during checkout. The coupon codes may or may not work, but I still found this feature to be incredibly time-saving since I am not personally googling and inputting each code myself.
20% back on Saks Fifth Avenue purchases? Yes Please! Photo credit: www.saksfifthavenue.com
Rakuten can also be utilized when shopping offline. Instead of checking Rakuten offers before you pay offline, you can enroll your credit cards on Rakuten and visit Rakuten’s in-store offer page. Link any cashback offers you like, and you are all set! Before you make an in-store purchase, remember that the offline cashback offer is only good once, so I personally wouldn’t waste it on small purchases. The only downside is that you earn way less than what you’d earn from online shopping, but since the program is free, I can’t really complain.
Earn more MR points using Rakuten
Cashback is nice, but my fellow travel enthusiasts know that MR points can yield more value when you transfer them to AMEX’s travel partners. When using Rakuten, as long as you hold one of the MR earning cards, you are good to start earning MR points instead of cashback:
The AMEX Morgan Stanley Platinum Card
The AMEX Charles Schwab Platinum Card
The AMEX Gold Business Card
The AMEX Green Business Card
The AMEX Everyday Card
The AMEX Everyday Preferred Card
The AMEX Blue Card
The AMEX Blue Business Plus Card
The earning potential doesn’t end there; you can stack Rakuten with AMEX offers!
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 or 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.
If you are targeted, you can earn 6 additional MR points on purchases that you’d normally earn 1X MR point per dollar. Photo credit: www.americanexpress.com
15% back can become 22% back if you combine with the targeted AMEX offer and the base credit card multiplier. Photo credit: www.americanexpress.com
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 six additional MR points for each eligible dollar spent at Aesop. Normally, Aesop purchases online will only earn 1X MR point, but you combine it with the +6 MR points AMEX 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, 600 more MR points for the AMEX offer, and 1,500 MR points for the 15% Rakuten offer because 1% Rakuten cashback equals 1 additional MR points per dollar. The cumulative increase from 1X to 22X is pretty impressive and worth taking advantage of.
Rakuten Payment Schedule
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, and I think it is more rewarding when you get a lump sum rather than small amounts here and there. Plus, did I mention that Rakuten is entirely free to participate? It’s nearly impossible to complain about a free program that benefits both consumers and retailers.
The payout calendar can be found on Rakuten’s website. Photo credit: www.rakuten.com
Be Patient with Rakuten Offers
I advise everyone to bide their 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, you can get typically a 1.5% discount on Nike purchases with Rakuten, but for lited-time, Rakuten is currently offering an incredible 15% cashback rate. It won’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!
Use my referral link to earn $30 when you use Rakuten! These amazing cashback offers won’t last long! Photo credit: www.rakuten.com
Summary
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 opens 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!
