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Rakuten unveils new credit card offering extra membership rewards

Rakuten unveils new credit card offering extra membership rewards
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Brian Kelly Founder and The Points Guy | The Points Guy

Rakuten has launched a new credit card that allows users to earn additional American Express Membership Rewards points. The Rakuten American Express Card offers a bonus of 4 points per dollar spent, in addition to the Membership Rewards points earned through the platform's special offers.

Though marketed as a cash-back card, those who have chosen to earn Membership Rewards points via Rakuten can redeem their cash back for these points. This is significant due to Amex's once-per-lifetime welcome bonus rules, which make earning Membership Rewards more challenging compared to other currencies.

"The information for the Rakuten American Express Card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer."

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The card comes with no annual fee and offers various earning rates: 10 points per dollar at Rakuten restaurant partners, 4 points on top of what you earn with Rakuten, 2 points on groceries and restaurants, and 1 point on all other purchases. Additionally, users receive $25 back after spending $500 within the first 90 days.

Other benefits include access to Amex Offers, retail protection covering items stolen or damaged within 90 days of purchase, and extended warranty protection extending eligible warranties by up to 12 months.

Despite its name, the Rakuten Amex is not issued by American Express but by First Electronic Bank under an American Express license. This means customers should contact First Electronic Bank for any issues related to their cards.

"This is an exciting new initiative from Rakuten," according to sources familiar with the product. Transferable rewards currencies like Membership Rewards are valuable; hence opportunities to earn more are appreciated by users already invested in using Rakuten.

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