Rakuten: cash back or points?
How the shopping portal works, how to have it pay American Express or Bilt points instead of cash, what that is worth, and the catches.
Rakuten is one of the easiest sources of points. It asks for nothing new: click through it before buying at a participating store, pay with the usual card, and Rakuten pays a percentage of the purchase back, on top of whatever the card earns. The only decision is whether that percentage arrives as cash or as points.
How it works
Join and set the payout
A free Rakuten account. Payouts come as cash, by PayPal or check, unless the account is switched to American Express Membership Rewards points or Bilt Points.
Start at Rakuten
Use the Rakuten site, app or browser extension to open the store before buying, so the purchase is tracked. Each store shows its current rate, for example "4% Cash Back".
Pay with any card
Rakuten pays on the purchase, not the card, so the card earns its own points as usual.
Wait for the payout
Rakuten pays every three months. Points can arrive months after the purchase.
The welcome bonus
New members who join through a referral link and spend $50 within 90 days earn a welcome bonus, paid the same way as the rest of their Rakuten earnings: 5,000 Amex Membership Rewards points for an account paying Amex points, or 5,000 Bilt Points at Bilt Silver status and above (2,500 at Blue status). At typical values that is worth about $100 to $110. Purchases on Amazon do not count toward the $50.
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Points Atelier earns a referral bonus when you join through our link and make a qualifying purchase.
Cash back, or points
When a Rakuten account pays in points, the store’s percentage turns into points per dollar. The rate shown in the store list is still the one to read.
| Payout | Conversion | A 10% store becomes | Worth at typical values |
|---|---|---|---|
| Cash | as shown | 10¢ per $1 | 10¢ |
| Amex Membership Rewards | 1 point for each 1¢ of cash back | 10 points per $1 | about 20¢ |
| Bilt Points, Silver status and above | 100 points per $1 of cash back | 10 points per $1 | about 22¢ |
| Bilt Points, Blue status | 50 points per $1 of cash back | 5 points per $1 | about 11¢ |
Values assume 2.0¢ per Membership Rewards point and 2.2¢ per Bilt Point, typical values that hold only for someone who transfers points to airline or hotel partners.
Choosing Amex Membership Rewards
- An American Express card that earns Membership Rewards is needed, such as the Gold or the Platinum. The Amex account is linked inside Rakuten.
- Cash back already earned but not yet paid converts to points once the accounts are linked, according to Rakuten’s Membership Rewards terms (updated February 26, 2026).
- The catch, in the same terms: choosing Membership Rewards removes access to Rakuten promotions run with other U.S. card issuers.
Choosing Bilt Points
- Linked from the Everyday Rewards tab in the Bilt app; the Bilt and Rakuten accounts need to use the same email, according to Bilt.
- Bilt pays 100 points per $1 of cash back to Silver, Gold and Platinum members, and 50 per $1 to Blue members, based on status on the payout date. The Blue rate was halved after the May 15, 2026 payout.
- Bilt deposits Rakuten points on February 15, May 15, August 15 and November 15.
- A Bilt card is not required. The Bilt Palladium welcome offer includes Bilt Gold status, which brings the full rate.
Which to choose
Silver status or above
Choose Bilt
22¢per $1 at a 10% store, at typical values
Bilt Points carry the highest valuation of the bank currencies and reach Hyatt, United and Alaska’s Atmos Rewards, which Amex does not.
Best for Bilt Silver and above
Any Amex points card
Choose Amex
20¢per $1 at a 10% store, at typical values
The same 1:1 rate, and the only way to send Rakuten earnings toward Delta or ANA. The better choice for Bilt Blue members who hold an Amex card.
Best for Gold or Platinum holders
No transfer habit
Keep cash
10¢per $1 at a 10% store
Points redeemed for statement credit are worth 0.6¢ each at Amex, less than the cash. Anyone who will not transfer should take the cash.
Simple, and sometimes right
The 95–100% days
A few times a year, Rakuten pays 95% to 100% back, in cash or 95–100 points per dollar, on subscription services such as VPNs and identity protection. Some of these offers end within a day.
They can be worth taking, with care: a subscription that would be bought anyway comes back almost entirely as points. The usual conditions are new customers only and one per member, and the subscription renews automatically unless canceled. Points Atelier covers these in Stories on the day they appear.
The catches
The Atelier Take
For anyone already collecting Amex or Bilt points, switching Rakuten to points roughly doubles what the portal is worth, at no cost and no extra effort.
Join Rakuten through our referral link →
Points Atelier earns a referral bonus when you join through our link and make a qualifying purchase.
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