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Rakuten is offering increased rates for many retailers today. The headline rate is 12x which is available at ~900 different retailers, although some are at 15x such as Saks Fifth Avenue and Dell, potentially making this a great time to use up your Amex Platinum and Business Platinum credits respectively. With Cyber Monday on the horizon though, some might prefer to wait a few more days to make a purchase.
The Deal
- Earn 12x-15x at hundreds of retailers when clicking through from Rakuten.
- Direct link to offer.
Key Terms
- Expires November 29, 2024 (probably).
Quick Thoughts
There are some decent deals here, especially considering there’s ~900 retailers available at 12x or more. Be sure to note the terms of each retailer though; clicking on the retailer usually takes you straight to the retailer, so it’s best to type its name in the search bar first and then looking at that listing page. For example, Hotels.com is listed as offering 12x, but that’s only for stays in a handful of US cities – other hotel bookings elsewhere are only 4x. Similarly, Expedia is listed at 12x, but that’s only for activities – other travel bookings like flights, hotels and rental cars generate a much lower return.
Perhaps the most notable of the retailers are two that aren’t at 12x, but 15x – Saks Fifth Avenue. It’s coming to the end of the year, so if you haven’t used your $50 twice-annual Saks credit on Amex Platinum cards or $200 twice-annual Dell credit on Amex Business Platinum cards, earning 15x Membership Rewards per dollar can be a great return.
There are a few caveats with this though. One is that Rakuten sometimes targeted people with higher rates, so check your account in case you have rates of something like 20x available.
Another is that you might get a better return elsewhere. Dell is 16% cashback at TopCashback today, although many will probably prefer 15x Membership Rewards to 16% cashback. Capital One Shopping frequently offers elevated rates on a targeted basis too, so that’s worth checking out in case there’s something crazy like 30% cashback or more.
Another factor to consider is that Cyber Monday is next week. Rakuten and other shopping portals often offer even higher rates to encourage you to make online purchases that day, so it wouldn’t surprise me if we see rates higher than 12x-15x on at least some of these retailers in a few days. However, there’s no knowing if that’ll definitely happen again this year, nor which retailers would be available at higher rates. It’s therefore up to you to decide if 12x-15x from Rakuten is the bird in the hand.
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