Rakuten American Express® Card: A Strategic Way to Earn More Amex Points
🚨 New from Rakuten x Amex
Rakuten has launched a no-annual-fee American Express® Card, issued by Imprint (not directly by Amex). And while it may not look flashy at first, for savvy points collectors — especially those deep in the Amex Membership Rewards (MR) ecosystem — it’s a sleeper powerhouse.
👥 Who Should Care?
Anyone who:
Uses Rakuten’s shopping portal
Has an Amex MR-earning card
Wants to earn more MR points without paying another annual fee
💳 Rakuten Amex Card Overview
💡 Why It’s Valuable: Strategy & Stackability
🔁 1. Convert Cash Back → Membership Rewards Points
The best play here is to opt into MR points instead of cash-back. You’ll earn:
1 MR point per $1 of Rakuten cash-back
So a 10% back Rakuten offer = 10 MR points per $1 spent
🧠 2. Stack Like a Pro: Rakuten Portal + Rakuten Amex Card + MR Cards
Example:
Shopping at a store offering 10% back on Rakuten
Paying with Rakuten Amex Card adds 4% back (or 4 MR)
You’re earning 14 MR points per dollar
🍴 3. Rakuten Dining = 10x Points (if you’re lucky)
You earn 10x at Rakuten Dining partners — 5% from Rakuten Dining + 5% from the Rakuten card (Frequent Miler tested it successfully). But availability is highly regional and opt-in is required in the Imprint app.
💰 4. Maximize the $7K Cap
The 4x Rakuten earnings rate is capped at $7,000 per calendar year (or 28,000 MR). After that:
Rakuten purchases drop to 1x
You’ll need to rotate cards or wait for the next year
Best play? Focus your portal-linked Rakuten purchases here and leave general spend to more powerful MR-earning cards like Amex Gold or Blue Business Plus.
🔍 Pros & Cons (Including Frequent Miler Insights)
✅ Pros
No annual fee
Earn up to 10x MR points on common spending categories
Convert portal cash-back into valuable, transferable MR points
No foreign transaction fees
Good for light spenders who still want strong MR accumulation
⚠️ Cons
Not a true Amex-issued card → lacks Amex Offers, Amex protections
Cap on 4x earnings at $7K
Rakuten Dining is regional and unpredictable
You can’t switch back to cash-back once you select MR
Earnings post quarterly, so you may wait 6–8 weeks for points
🧭 Set-Up Steps
Sign up for Rakuten (if you haven’t)
Apply for the Rakuten Amex Card
Link your card in the Imprint app
In your Rakuten account settings, choose:
Payout Preference → American Express Membership RewardsStart shopping via Rakuten portal or app
Use your Rakuten Amex Card to stack earnings
Track and receive points every quarter (e.g. purchases Apr–Jun post in August)
✏️ Final Thoughts
The Rakuten Amex Card isn’t about flash — it’s about finesse. It won’t replace your Amex Gold or Platinum, but it complements them. Especially for frequent Rakuten users or those who love stacking strategies, this card is a stealthy way to add thousands of extra MR points a year — for zero cost.
TL;DR: If you:
✅ Use Rakuten
✅ Have an MR card and mostly dabble in the Amex Ecosystem
✅ Like maximizing portals
This card belongs in your wallet.
I personally will pass on it for the time being as there are so many more exciting cards out there right now, and so much more to come.