Another Perk Bites The Dust: Rakuten Cash Back Visa Removing Price Protection


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.

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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, 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.