In not-too-surprising-but-disappointing-nonetheless news, Synchrony has sent emails to cardholders of the Rakuten Cash Back Visa card informing them that the price protection benefit on the card is being removed from July 16, 2021.
The email states “All other card benefits will remain in place”, but they probably should have added “for now” to the end of that. That’s because they already removed Auto Rental Collision Damage Waiver or Extended Warranty coverage on February 1, 2021, while last year the card stopped earning 3%/3x on gift card purchases from GiftCardMall, GiftCards.com and Raise.
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If I open up a Rakuten cash back account today, can I convert it in a few months to MR earning, or do I need to open a seperate account?
I do not currently have any Rakuten account or MR earning cards, but I will soon.
Thanks,
Dan
Yes, there’s a section in your account settings where you can convert an account earning cashback to one earning Membership Rewards. Anything already earned as cashback will still be paid as cashback though; it’s only future earnings after you’ve changed your account that will earn Membership Rewards.