Rakuten is now showing a $375 cash-back bonus for opening a Bank of America Premium Rewards credit card through its shopping portal, down from the $425 offer that ran days earlier.
The cash back stacks on top of the card's standard welcome offer of 60K points, worth $600, after $4K in purchases within the first 90 days.
At the current rate, the combined haul lands at $975 before the card's $95 annual fee. At the earlier rate it reached $1,025.
The Rakuten payout is separate from the bank's bonus and only applies when the application starts through Rakuten.
Not every account sees the same number
Rakuten users who set their payout preference to membership rewards points won't see these card offers at all.
Amounts have also varied by user, with some reporting $400 rather than $425 during the higher window.
Switching the payout setting to cash is what surfaces the offer, a detail flagged repeatedly across points and miles forums.
Rakuten has been raising Bank of America payouts for weeks
The Premium Rewards card joined the portal on Oct. 6 as a fourth Bank of America option, the strongest of the group at the time.
Customized Cash Rewards hit an all-time high of $275 cash back through Rakuten, on top of a $200 bank bonus after $1K in spending.
Unlimited Cash Rewards matched its record at $225, paired with a $250 bank bonus and 15 months of 0% APR.
Travel Rewards sat at $225 after peaking at $400 in late September, showing how quickly these portal rates move.
Premium Rewards carries a $95 annual fee and a $100 airline incidental credit that resets each calendar year.
The credit alone more than covers the fee, which is why the card is often framed as a net positive in year one.
Bank of America also applies its own application limits, a rule set commonly described as the 2/3/4 restriction on new cards per period.
Rakuten's bonuses on three Bank of America cards reached as high as $425 during the promotion window.
Portal offers like this one change without notice, and the $375 figure reflects what Rakuten displayed publicly as of Oct. 8.
