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Rakuten Rewards Credit Card Review

Rakuten Inc., located in Japan, was originally named MDM, Inc. In 1997, the online marketplace was launched. In 1999, the name of the shopping site was changed to The owner competed with other large online marketplaces by allowing merchants to customize their storefronts and charging a smaller fee. In case you are curious, “Rakuten” means “optimism” in Japanese.

Currently, that optimism can extend to customers as well, because Rakuten provides generous points and promotions, which are enhanced by carrying their Rewards Mastercard. sells over 90 million products from approximately 40,000 merchants around the globe.

If you ever want to shop on one website that offers the opportunity to buy from many different merchants and browse a wide variety of items, such as electronics, household goods, beauty supplies, fitness equipment, and much more, then is a great choice.

Top PerksRakuten card review

  1. Generous point system: Spending $1 earns you 1 point when making general purchases. You can earn up to 3 points when making purchases on with your Rakuten Rewards Mastercard.
  2. Promotions: Periodically, there are generous promotional deals that are awarded to card applicants upon approval. For example, from February to June of 2018, Rakuten offered 8000 points (essentially $80) for applying for the card, and 2000 points ($20) for the first 3 purchases on the card from any merchant, made within the first 30 days after approval.
  3. Points do not expire for 2 years: Accumulate points for up to 2 years, and then treat yourself to one big gift.
  4. Design your own card: whatever design you would like on your card, you can have it. If you need corporate cards, your employees can each have their own design, or you can put your company logo on the card.

Key Details

  • Interest Rate: 24%, 21.24%, or 24.24% when you open your account, based on your credit score
  • No annual Fee
  • Late Payment Fee: up to $37
  • Returned Payment Fee: up to $35

How the Rakuten Rewards Points System Works

  • 3% back on every dollar you spend on, when you use your Rakuten Rewards Mastercard. (Without the card, you will receive 1%.)
  • 1% back on every dollar charged to your card at any other location
  • The points you accumulate can only be redeemed through Rakuten for purchases you make on their site.

Who is This Credit Card Best For?

Anyone who is a “one stop shopper”, preferring to do all their shopping on one website, and anyone who likes to get good deals, will benefit from this card. The one-stop-shop model is great when you do holiday or birthday shopping, because you can buy for many different tastes and interests all in one place.

How to Get a Rakuten Mastercard

You need to create a login and password for to apply for their Reward Mastercard. If you have not done that already, then go to the home page, click on “My Account” in the upper right corner and click on the “Create Account” button. Once you have signed in, then you can fill out the application here.

Application requirements include the following:

  • Name
  • Address
  • Email
  • Phone number
  • Birthdate
  • Social security number
  • Mother’s maiden name
  • Housing information
  • Employment information
  • Annual income

The application is secured by the most up-to-date technology to keep all your personal data safe. The account is handled by First Bankcard, a division of First National Bank of Omaha.

What Else Should I know About?

In addition to rewards and promotionals, here are some more benefits:

  • Free access to FICO® Credit Score
  • Price protection
  • Extended Warranty
  • Travel assistance services
  • Travel & Accident Insurance
  • MasterRental/Collision Damage Waiver

Tips For Using Rakuten Reward Mastercard

Be sure to keep up to date on the most recent specials, especially “Daily Deals”. If you are on the high side of the credit card interest rate, be sure to pay it off each month, so you can gain full benefit of your savings.

How to Use the Rakuten Reward Mastercard with Giving Assistant?

Increase savings by combining the Rakuten Mastercard with Giving Assistant’s great deals. Click here to see available savings and discounts at with Giving Assistant, then join Giving Assistant for free by clicking “Join” in the upper right corner.

In order to gain more savings, upgrade to Power Shopper for only $5.99 annually, then receive twice the cash back with every participating Giving Assistant partner, including For your convenience, the cost of the upgrade will be deducted from your cash back.

Upon joining Giving Assistant, go to the Rakuten page and review the list for current offers, coupon codes, and cashback rates. If you download Giving Assistant’s top-rated browser extension, The Button, it will list all highest saving coupon codes and activate your cash back deals automatically. Sign on with Giving Assistant today and happy shopping!


How to Use Your Rakuten Rewards Credit Card with Giving Assistant

When you go to Giving Assistant you’ll find verified coupons for multiple brands that offer up to 30% savings on select items. By using a Giving Assistant-provided link when you shop you have the potential to earn cash back, save on your purchase price, and get the added benefits from your Rakuten rewards credit card when you pay for your purchase.

To get started, you first need to sign up for an account on Giving Assistant. Once enrolled, visit the Giving Assistant Rakuten Rewards store page here to view the current coupons, promo codes, and deals.

Download the Giving Assistant browser extension called the Button, to automatically populate the highest-value coupons as you visit thousands of online shopping websites.

Maximize your rewards earnings and saving potential by combining your Rakuten Rewards Credit Card with discount codes and offers found at Giving Assistant today!

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