Rakuten is paying cash back on top of Bank of America's own welcome offers when you're approved for one of four Bank of America cards after clicking through from Rakuten. On October 8, 2026, signed out, Rakuten's card pages showed $375 cash back on the Premium Rewards card, $100 on the Travel Rewards card and $75 each on the Customized Cash Rewards and Unlimited Cash Rewards cards. The figure you see after you sign in may be different.
Deal Details
Bank of America's welcome offer comes from Bank of America, and Rakuten's cash back comes from Rakuten. Here's each card as both companies showed it on October 8:
- Premium Rewards: 60,000 online bonus points after you make at least $4,000 in purchases in the first 90 days of account opening, with a $95 annual fee. Rakuten showed $375 cash back, and its page listed the previous amount as $125.
- Travel Rewards: 25,000 online bonus points after $1,000 in purchases in the first 90 days, which Bank of America says can be redeemed for a $250 statement credit toward travel and dining purchases. No annual fee. Rakuten showed $100 cash back.
- Customized Cash Rewards: a $200 online cash rewards bonus after $1,000 in purchases in the first 90 days, plus 6% cash back in the category of your choice for the first year, up to a quarterly spending cap. No annual fee. Rakuten showed $75 cash back.
- Unlimited Cash Rewards: a limited-time $250 online cash rewards bonus after $1,000 in purchases in the first 90 days. No annual fee. Rakuten showed $75 cash back.
Rakuten's terms match on all four pages: the cash back is for new, approved cardholders who are U.S. residents and keep the account open at least 3 months after approval, with "only one cash back bonus per Rakuten member account." Rakuten says it's added automatically "within a few months."
How Rakuten Pays You
Rakuten pays the bonus as cash, by PayPal or check, or as Bilt Points, depending on the payment setting in your account, every three months. For Bilt Points, you link your Bilt account to Rakuten in Bilt's app or website.
Eligible American Express Card Members can earn Membership Rewards points instead, but these card bonuses aren't available with that setting.
How to Take Advantage
- Sign in to Rakuten and check that your payment method is PayPal, check or Bilt, not Membership Rewards.
- Open the card's page on Rakuten, note the amount it shows you, and click through from that page to apply.
- Once you're approved, meet Bank of America's spending requirement within 90 days and keep the card open for at least 3 months.
Why This Deal Matters
Rakuten's cash back sits on top of Bank of America's welcome offer, and the Premium Rewards card carries the largest Rakuten amount of the four. It also has the only annual fee of the four and the highest spending requirement, so it suits someone who can put $4,000 on a new card in 90 days without stretching.
The no-fee cards ask for $1,000 in 90 days. If you'd hold one of them long term, the BofA Rewards guide explains how the program's tiers raise what each card earns.
The Bottom Line
This is for anyone who was already planning to open one of these four cards. If Bank of America has turned you down recently or you can't meet the spending requirement comfortably, skip it. The amounts can change, so check the figure Rakuten shows you before you apply. If you're new to Rakuten, our Rakuten review explains how the portal works.
