Bottom Line Up Front: The Rakuten American Express Card is a solid no-annual-fee option for frequent Rakuten shoppers who want to double-dip on rewards. It's even better if you have another Amex Membership Rewards card, letting you convert cash back to flexible points. But with only 1% back on non-bonus spending and quarterly payout delays, it won't replace your everyday card.

If you're already shopping through Rakuten to earn cash back (and you should be), this card adds an extra layer of rewards. The question is: does it earn enough to deserve a permanent spot in your wallet?

What Is the Rakuten American Express Card?

The Rakuten American Express Card is a partnership between the popular cash-back shopping portal and American Express. It's designed specifically for Rakuten members (free to join) who want to maximize rewards on their online shopping.

Card at a Glance:

• Annual Fee: $0
• Welcome Bonus: $25 after spending $500 within 90 days
• Earning Structure: 4% on Rakuten purchases (up to $7,000/year), 5% on Rakuten Dining, 2% on groceries and dining, 1% everywhere else
• Unique Feature: Convert cash back to American Express Membership Rewards points
• Foreign Transaction Fees: $0
• Best For: Active Rakuten users who already have an Amex Membership Rewards card

How the Rakuten Amex Card Works

This isn't your typical credit card. It's built around the Rakuten ecosystem, so understanding how it integrates with the shopping portal is key.

The Double-Dip Strategy

Here's where things get interesting. When you shop through Rakuten using this card, you earn both the standard Rakuten cash back and the 4% from your card.

Example: Let's say you're buying a $500 laptop from Best Buy, and Rakuten is offering 3% cash back.

• Rakuten portal cash back: $15 (3%)
• Card cash back: $20 (4%)
• Total cash back: $35 (7%)

That's a pretty sweet deal for online shopping you were going to do anyway.

Earning Categories Breakdown

The card's earning structure is tiered, rewarding different types of spending at different rates:

Rakuten purchases: Earn 4% cash back on purchases made through the Rakuten shopping portal, but only up to $7,000 per calendar year. After that, you drop down to 1% for the rest of the year.

Rakuten Dining: This is where the card really shines—5% cash back at participating restaurants enrolled in the Rakuten Dining program. Plus, you get another 5% from the dining program itself, giving you a combined 10% back.

Groceries & other dining: A solid 2% cash back with no earning caps, making this decent for everyday food spending.

Everything else: The base rate is only 1% cash back on all other purchases, which is pretty underwhelming compared to competitors.

The $7,000 Cap Matters: Once you hit $7,000 in Rakuten purchases for the calendar year, your earning rate drops to 1%. If you're a heavy Rakuten user, that's only $280 in maximum 4% rewards per year before you're earning the base rate.

The Game-Changer: Converting to Membership Rewards

This is where the Rakuten Amex becomes genuinely interesting for points enthusiasts.

If you have any American Express card that earns Membership Rewards points (like the Amex Gold, Amex Platinum, or Blue Business Plus), you can convert your Rakuten cash back to Membership Rewards at a 1:100 ratio.

What does that mean?

• $1 cash back = 100 Membership Rewards points
• $100 cash back = 10,000 points

Why would you convert cash to points? Because Membership Rewards points can be worth significantly more when transferred to airline and hotel partners. Our comprehensive guide to American Express transfer partners shows you can regularly get 1.5-2+ cents per point in value—sometimes much more.

Quick Math:

• $100 cash back = $100 (1 cent per dollar)
• 10,000 Membership Rewards points = $150-200+ in travel value

The catch? You need another Amex Membership Rewards card to unlock this feature. If you don't have one, this conversion option doesn't exist.

Welcome Bonus: Nothing Special

Let's be honest: the $25 welcome bonus after spending $500 is underwhelming.

Most competitive no-annual-fee cards offer $200+ bonuses with similar spending requirements. The Wells Fargo Active Cash offers $200 after $500 spend. The Chase Freedom Flex also delivers $200 with the same threshold.

The verdict: Don't apply for this card for the bonus. Apply for it only if the ongoing earning structure fits your spending.

Rakuten Dining: The Secret Weapon

Here's a benefit that doesn't get enough attention: Rakuten Dining.

Similar to how the Rakuten shopping portal works, Rakuten Dining partners with thousands of restaurants nationwide. When you link your card and dine at participating restaurants, you automatically earn 5% cash back—no portal clicking required.

The double-dip at restaurants:

• Rakuten Dining: 5% cash back (automatic)
• Rakuten Amex Card: 5% cash back (for using the card)
• Total: 10% cash back on dining

That's better than most dining cards on the market. For comparison, the Amex Gold earns 4X points (4% base value), the Chase Sapphire Preferred earns 3X points (3% base value), and the Capital One Savor offers 4% cash back.

Important: This only works at restaurants enrolled in Rakuten Dining, which is a smaller network than major dining programs. Check the Rakuten app to see participating restaurants in your area.

How It Stacks Up Against Competitors

Let's see how the Rakuten Amex compares to other no-annual-fee cash back cards.

Rakuten American Express Card: No annual fee, earns 1% base rate with 4% on Rakuten purchases and 5% on Rakuten Dining. Welcome bonus is just $25.

Wells Fargo Active Cash: No annual fee, earns a flat 2% on everything with no categories to track. Offers a much better $200 welcome bonus.

Chase Freedom Flex: No annual fee, earns 1% base rate but 5% on rotating quarterly categories (requires activation) plus 3% on dining and drugstores. Also offers $200 welcome bonus.

Blue Cash Everyday: No annual fee, earns 1% base rate with 3% on groceries (up to $6,000/year) and 2% at gas stations and select department stores. Welcome bonus is $200.

Capital One Quicksilver: No annual fee, earns a flat 1.5% on everything. Offers $200 welcome bonus.

What stands out:

• The Rakuten Amex has the worst base earning rate (1%)
• It offers the smallest welcome bonus ($25 vs. $200)
• But it has the highest category bonuses if you're strategic (up to 10% on Rakuten Dining)

The Rakuten card isn't trying to be your everyday spend card. It's a specialist designed for a specific use case: maximizing Rakuten shopping and dining.

The Quarterly Payout Problem

Here's a frustrating aspect: unlike most cash back cards that let you redeem anytime, Rakuten pays out quarterly on these specific dates:

• February 15
• May 15
• August 15
• November 15

You need a minimum of $5.01 in confirmed earnings to receive payment. If you're below that threshold, your cash back rolls to the next quarter.

Why this matters: Your money is essentially locked up for months. With most cards, you can redeem cash back immediately as statement credits or transfers. The quarterly payout feels outdated compared to competitors.

Our take: This is a minor inconvenience, but it's worth noting if you prefer immediate access to your rewards.

The Amex Offers Bonus

One underrated perk: since this is an American Express card, you get access to Amex Offers.

Amex Offers provide additional savings at specific merchants—usually $5-25 back or extra points when you spend a certain amount. These offers change regularly and can stack with your normal rewards.

Recent examples we've seen:

• Spend $50 at Grubhub, get $10 back
• Spend $100 at Best Buy, get $10 back
• Spend $30 at Home Depot, get $5 back

Learn more about maximizing Amex Offers in our guide.

These targeted offers can boost your effective return significantly if you pay attention to them and use ones that align with your spending.

Other Card Benefits

The Rakuten Amex includes standard American Express benefits:

• Purchase Protection: Covers eligible purchases against damage or theft for 90 days (up to $1,000 per occurrence, $50,000 per year)
• Extended Warranty: Adds up to 1 extra year to manufacturer's warranties of 5 years or less
• Amex Experiences: Access to presale tickets for concerts, events, and sporting events

These aren't premium-tier benefits, but they're solid for a no-annual-fee card.

Who Should Get This Card?

Perfect for:

• Active Rakuten shoppers who make frequent purchases through the portal
• Amex Membership Rewards collectors who want another way to earn transferable points
• Strategic dining spenders who live near Rakuten Dining partners
• Multi-card strategists building a rewards portfolio

Skip this card if:

• You rarely shop online or don't use shopping portals
• You want a strong everyday card (get the Wells Fargo Active Cash instead)
• You need a better welcome bonus (consider the Chase Freedom Flex)
• You don't have another Amex Membership Rewards card and don't plan to get one

Real-World Example: Making It Work

Let's see how someone could actually use this card effectively.

Meet Sarah, a savvy online shopper:

• Monthly Rakuten spending: $300 (electronics, clothing, home goods)
• Annual Rakuten spending: $3,600
• Monthly Rakuten Dining: $200
• Annual Rakuten Dining: $2,400
• Other monthly spending: $1,500

Sarah's annual rewards with Rakuten Amex:

• Rakuten purchases (4%): $144
• Rakuten Dining (5%): $120
• Other spending (1%): $180
• Total card cash back: $444

But wait—Sarah also shops through the portal:

• Average Rakuten portal rate: 2%
• Portal cash back: $72

Sarah's combined rewards: $516 per year

Now, Sarah has an Amex Gold card for dining and groceries. She converts her $444 in Rakuten cash back to 44,400 Membership Rewards points and transfers them to British Airways Avios for a short-haul flight worth $300+.

Sarah's effective return: $372 (portal) + $300 (converted points) = $672 in value

That's better than any flat-rate card would've delivered on the same spending. But it required strategic planning and multi-card management.

How to Maximize This Card

If you decide to get the Rakuten Amex, here's how to squeeze every dollar of value:

1. Link Rakuten Dining immediatelyRegister your card in the Rakuten Dining program to start earning automatic 5% at participating restaurants.

2. Check Rakuten before every online purchaseInstall the Rakuten browser extension so it alerts you when shopping at partner sites. Never miss cash back opportunities.

3. Time big purchases strategicallyRakuten frequently runs special promotions with double or triple cash back. Plan major purchases around these events.

4. Have an Amex Membership Rewards cardWithout this, you're leaving significant value on the table. The Amex Gold or Blue Business Plus are great options.

5. Monitor your $7,000 capOnce you hit $7,000 in Rakuten purchases for the year, the 4% rate drops to 1%. Consider switching to another card after that point.

6. Stack with Amex OffersAlways check for Amex Offers before making purchases. These can add 5-10% back on top of your base rewards.

7. Use Cashback MonitorThis tool compares cash back rates across multiple portals, ensuring Rakuten is actually offering the best deal.

Alternatives to Consider

If you're on the fence about the Rakuten Amex, here are alternatives that might fit better:

For flat-rate simplicity: Wells Fargo Active Cash

• 2% unlimited cash back
• $200 welcome bonus
• No quarterly payout delays

For strategic category spending: Chase Freedom Flex

• 5% rotating categories (requires activation)
• 3% dining and drugstores
• $200 welcome bonus

For grocery-heavy spenders: Blue Cash Everyday

• 3% groceries (up to $6,000/year)
• 2% gas stations and department stores
• $200 welcome bonus

For Membership Rewards earners: Blue Business Plus

• 2X Membership Rewards on everything (up to $50,000/year)
• No annual fee
• Flexible business use

Compare with other Amex cards: Check out our Amex Gold vs Amex Green comparison and Amex Gold vs Platinum analysis.

The Bottom Line

The Rakuten American Express Card isn't for everyone. It's a niche specialist that excels in specific scenarios.

Get this card if:✅ You're already an active Rakuten user✅ You have (or plan to get) another Amex Membership Rewards card✅ You want to maximize online shopping rewards✅ You live near Rakuten Dining partners

Skip this card if:❌ You want a strong everyday card❌ You prioritize large welcome bonuses❌ You don't shop online frequently❌ You want immediate reward access

For most people, this won't be your primary card. But as part of a strategic multi-card setup, it can add meaningful value—especially when you convert cash back to Membership Rewards points and transfer them to travel partners.

The real question isn't whether the card is good—it's whether it fits your spending patterns. If you're already shopping through Rakuten regularly (or want to start), this card provides a legitimate boost. Just don't expect it to replace your Chase trifecta or Amex setup.

Final Rating: 3.5/5 stars

• ⭐⭐⭐⭐⭐ for active Rakuten users with Amex Membership Rewards cards
• ⭐⭐⭐ for casual online shoppers
• ⭐⭐ for people who don't use shopping portals

Apply for the Rakuten American Express Card through Rakuten and start stacking your rewards today.

Frequently Asked Questions

Is the Rakuten American Express Card worth it?The card is worth it if you're an active Rakuten shopper and especially valuable if you have another Amex Membership Rewards card to convert cash back into flexible points. For casual shoppers or those wanting a primary everyday card, better options exist like the Wells Fargo Active Cash with its 2% unlimited cash back.

How does the Rakuten Amex Card compare to other cash back cards?The Rakuten Amex offers higher rewards in specific categories (4% on Rakuten purchases, 5% on Rakuten Dining) but only 1% on everything else. Competitors like the Wells Fargo Active Cash (2% on all purchases) and Chase Freedom Flex (5% rotating categories) provide better base earning rates and larger welcome bonuses.

Can I convert Rakuten cash back to American Express points?Yes, but only if you have another American Express card that earns Membership Rewards points. The conversion rate is 1:100, meaning $1 in cash back becomes 100 Membership Rewards points, which can be more valuable when transferred to airline and hotel partners.

What is Rakuten Dining and how does it work?Rakuten Dining is a restaurant cash-back program similar to the Rakuten shopping portal. After linking your Rakuten Amex card, you automatically earn 5% cash back when dining at participating restaurants, which stacks with the card's 5% earning rate for a total of 10% back.

When does the Rakuten American Express Card pay out rewards?Rewards are paid out quarterly on February 15, May 15, August 15, and November 15. You must have at least $5.01 in confirmed earnings to receive payment, otherwise rewards roll to the next quarter. This is less flexible than most cash back cards that allow immediate redemption.

Does the Rakuten Amex Card have foreign transaction fees?No, the Rakuten American Express Card has no foreign transaction fees, making it a decent option for international purchases if you're already using it for Rakuten shopping.

What happens when I hit the $7,000 Rakuten purchase cap?After spending $7,000 on Rakuten purchases in a calendar year, your earning rate drops from 4% to 1% for the remainder of the year. This means the maximum bonus cash back from Rakuten purchases is $280 annually before reverting to the base rate.

What credit score do I need for the Rakuten American Express Card?While American Express doesn't publish specific requirements, most no-annual-fee Amex cards typically require good to excellent credit (generally 670+). Your approval odds improve significantly with a credit score above 700.

Can I use the Rakuten card without shopping through the Rakuten portal?Yes, the card works as a regular credit card earning 1% on all purchases, 2% on groceries and dining, and 5% on Rakuten Dining. However, you'll miss out on the 4% Rakuten purchase bonus and the portal cash back if you don't shop through Rakuten.

Is the Rakuten American Express Card better than the Blue Cash Everyday?It depends on your spending. The Blue Cash Everyday offers 3% on groceries (up to $6,000/year) and 2% at gas stations, making it better for everyday spending. The Rakuten Amex is superior for online shopping through Rakuten and restaurant spending at Rakuten Dining partners, especially if you can convert rewards to Membership Rewards points.