Rakuten Seeks To Give Even More Cash Back to the Cashback Enthusiasts Among Us

If you’re a fan of Cashback Monitor, you’ve probably come across Rakuten. The shopping platform is known for offering attractive cashback offers on top of your usual credit card rewards. But after years of just popping up in your browser when a merchant has a deal, Rakuten’s now hoping to find a spot in your wallet too.

• Last week, Rakuten announced its brand-new Rakuten American Express credit card, aiming to turn the platform’s avid shoppers into cardholders as well.
• The card will offer “an extra 4% cash back on top of what they already earn while shopping on Rakuten’s platform of more than 3,500 stores.”

So is it worth it? Rakuten’s new card might sound like a good pitch, but it comes with a nasty downside — the cashback only applies to “the first $7,000 of credit card spending each calendar year.” For heavy spenders, that low limit could make the card less attractive, especially since other benefits — like 2% cash back on groceries and restaurants and 1% back on everything else — are lower than many competing cards. Whether it’s worth it really comes down to whether Rakuten, or its dining program, is already part of your financial diet.