Frequent Miler's latest team challenge, Million Mile Madness, is almost done! The last two weeks Greg, Nick, and Stephen competed to earn 1 Million SAS miles by flying 15 airlines. But who completed the challenge with the most Speed, Affordability, and Style?
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Shopping portal Rakuten is running a “Triple Cash Back” event for President’s Day weekend (February 12-14). They are advertising up to 15x / 15% cash back at many stores, though the truth is that rates aren’t nearly that high for most of the popular brands I checked. The best deal we’ve seen is an increased deal for a Betterment account (now 12,750 Membership Rewards points or $127.50 cash back for opening an account and depositing at least $1. Given that you could be earning that return as Membership Rewards points, events like this can always be a good opportunity to look for increased payouts at stores with Amex Offers or where you can use credit card benefits in addition to providing a chance at a good return on ordinary purchases you already planned to make. Also notable here is increased in-store rates that could be useful for some.
The Deal
- Shopping portal Rakuten is offering increased cash back rates for President’s Day, with some stores offering up to 15% back / 15x Membership Rewards points
- Direct link to this promotion
- Note that there are also increased rates for in-store cash back. Here’s a link to that.
Key Terms
- Check individual store terms for any restrictions
- Keep in mind that advertised rates are typically on the total before shipping / taxes
Quick Thoughts
Keep mind that you should always compare portal rates using a tool like Cashbackmonitor.com because increased rates do not always mean the highest rates available.
That said, given that many people value Membership Rewards at greater than 1c and more highly than many other rewards currencies, the return through an event like this can be appealing when all else is equal. We will keep our eye out for any particularly good opportunities presented by these increased payouts.
As noted at the top, at first glance, most of the payouts don’t look particularly notable. However, it’s worth a mention that they have also increased rates for in-store cash back with Macy’s at 6% / 6x and Clark’s stores at 18% / 18x or Clark’s Outlets at 12% / 12x as a couple of examples.
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Looks like being lazy has paid off once again.
I pulled up the page for the betterment account last night when it was only 7500 MR and decided to just deal with it tomorrow. Would have missed out on 5k free points. 🙂
Now I just need them to do a 10x/$ at SAKs so I can burn this Amex credit