Rakuten just launched a promotion that could add serious cash to your wallet when you apply for specific Bank of America credit cards. This isn't your typical welcome bonus — it's bonus stacking at its finest.

The Deal Details

Right now, Rakuten is offering hefty cash-back bonuses on top of standard credit card welcome offers for two Bank of America cards:

Bank of America Customized Cash Rewards: Apply through Rakuten and earn $175 cash back from Rakuten, plus the card's standard $200 welcome bonus after spending $1,000 in 90 days. That's $375 total just for meeting the minimum spend.

Bank of America Travel Rewards: This one's even better. You'll get $300 from Rakuten on top of the card's 25,000-point bonus (worth $250). Total value: $550 from one application.

The math is simple: apply through Rakuten's portal instead of directly with Bank of America, and you pocket the extra cash. The card approval requirements, welcome offers, and benefits stay exactly the same.

Points Enthusiasts Have Options

Here's where it gets interesting for points collectors. Instead of cash back from Rakuten, you can opt to earn American Express Membership Rewards or Bilt Rewards points at a 2:1 conversion. That means the $300 Bank of America Travel Rewards bonus becomes 30,000 transferable points, which we value at $600 based on redemption potential. The $175 Customized Cash bonus converts to 17,500 points (valued at $350).

For anyone building a transferable points balance, this conversion makes the deal significantly more valuable than cash back.

Strategic Considerations

This promotion works best if you were already considering a Bank of America card. Don't apply just for the Rakuten bonus if the underlying card doesn't fit your spending patterns or wallet strategy. The Customized Cash Rewards card shines for its 6% back in a category of your choice (gas, online shopping, dining, travel, drugstores, or home improvement) during the first year. The Travel Rewards card offers solid value for anyone without annual fee cards who books travel regularly.

Also worth noting: Rakuten promotions like this typically don't last long. Previous high-value offers have disappeared within days once they gain traction. If you're on the fence about either card, deciding quickly makes sense.

Check your Rakuten account to confirm you're seeing the same bonus amounts, as targeted offers can vary. New Rakuten members should also grab their separate $50 new member bonus if they haven't signed up yet.

Bottom Line

Stacking Rakuten's bonus with Bank of America's welcome offers creates outsized value that's hard to ignore. The Travel Rewards card deal is particularly strong at $550+ total value, making it one of the better no-annual-fee card bonuses available right now. Just make sure you actually want the card you're applying for — bonus stacking only works if the underlying product makes sense for your spending.

This article contains affiliate links. If you apply through our links, we may earn a commission at no cost to you, which helps us continue sharing points and miles strategies with the community.