Rakuten just shook up the rewards world by launching a brand-new Rakuten Amex Credit Card, and for smart shoppers who love cash back or travel points, it is worth a serious look. 

Backed by American Express and powered by fintech platform Imprint, this $0 annual fee card offers up to 4% back on Rakuten purchases, 10% at Rakuten Dining, and flexible point conversions into Amex Membership Rewards.

For award travelers – who want more from everyday spending without overcomplicating things – this card could be a simple new way to unlock big travel dreams. 

Here is a breakdown of what it offers, how it works, and who should consider adding it to their wallet.

How The Rakuten Amex Credit Card Works

The Rakuten Amex Credit Card is designed to layer extra rewards on top of what you already earn through the Rakuten shopping portal. When you shop through Rakuten and use the card, you stack rewards in a way that no other no-annual-fee card allows.

Here is what you earn:

• 4% back on purchases made through Rakuten (online or in-store), up to $7,000 per year
• 10% back at Rakuten Dining restaurants (5% from Rakuten, 5% from the card)
• 2% back at grocery stores and all non-Rakuten restaurants
• 1% back on all other purchases
• $25 welcome bonus after spending $500 in the first 90 days
• No annual fee and no foreign transaction fees

If you are already earning cashback with Rakuten, the card adds another layer. 

But here is where it gets even more valuable – if you hold a Membership Rewards-earning Amex card (like the American Express® Gold Card or The Platinum Card® from American Express), you can choose to convert your Rakuten earnings into Amex points instead of cash.

Those points can be transferred to travel partners and redeemed for premium flights, hotels, and more. 

With the right redemptions, your rewards can be worth up to 2 cents per point or more, turning a simple grocery run into serious travel value.

Where The Value Shines Most

The Rakuten Amex Credit Card works best when it matches your real-life spending. Here are the top scenarios where it adds up fast:

• You Already Use Rakuten To Shop: Every online or in-store Rakuten purchase earns 4% from the card, on top of what the portal already gives. Some offers stack up to 8% to 12% total when timed right.
• You Dine At Rakuten Dining Restaurants: This network covers more than 22,000 restaurants nationwide. Just link your card, dine out, and enjoy 10% back – 5% from Rakuten and 5% from the card. You do not need to activate anything.
• You Earn Amex Membership Rewards Points: Converting cash back into Membership Rewards is one of the biggest hidden benefits. This feature turns cash into flexible travel currency, with partners like Air Canada Aeroplan, ANA Mileage Club, and Delta SkyMiles offering outsized value for redemptions.
• You Want Simplicity And Flexibility: With no annual fee and no foreign transaction fees, this card works well alongside more premium cards without overlapping benefits.

Even if you do not convert to points, the flat cash-back setup is still strong – especially at 2% for groceries and restaurants.

What To Watch Out For

No card is perfect. 

Here are the few drawbacks to note before applying:

• $7,000 Cap On 4% Rakuten Spending: After hitting that, Rakuten purchases drop to just 1% back from the card.
• Only $25 Welcome Offer: Compared to cards with $500+ bonuses, this offer is modest.
• Rakuten Dining Is Location-Dependent: If you are in a smaller town, the 10% dining deal may be harder to use.
• Rewards Rely On Using The Rakuten Portal or App: If you forget to shop through Rakuten, you miss out on stacking opportunities.

This card rewards attention to detail. The more you build Rakuten into your routine, the more it gives back.

Final Thoughts

For frequent Rakuten shoppers and fans of American Express Membership Rewards, the Rakuten Amex Credit Card presents a strong no-fee option that delivers real value. 

The ability to earn 4% back on Rakuten purchases and 10% back at participating restaurants makes this card stand out – especially when paired with the option to convert earnings into transferable Amex points. 

This card rewards consistency. 

Those who regularly shop through Rakuten, dine at Rakuten Dining restaurants, and already hold a Membership Rewards-earning Amex card will likely see excellent returns.

On the other hand, casual users who do not rely on Rakuten, or who want a more generous welcome offer, may find better fits elsewhere. 

The $25 sign-up bonus is lower than many competitors, and the $7,000 spending cap limits long-term earning potential for heavy spenders. 

Still, for users looking to level up their rewards without the commitment of an annual fee, this card offers a rare opportunity to stack cashback and travel points in a single, streamlined strategy.

The Rakuten Amex Credit Card is a great fit for those who want more value from their everyday spending without adding complexity. 

It fills a unique space in the rewards landscape, offering flexibility, simplicity, and strong upside – especially for those ready to take the next step toward smarter travel.

Kevin Zanes