Rakuten American Express Card Increasing Annual 4% Cash-Back Earning Cap

Last year, Rakuten introduced its revamped The Rakuten American Express^® Card, which provided cardholders with terrific cash-back rewards with no annual fee.

However, things are about to be even better. Rakuten is giving its credit cardholders a bigger opportunity to earn rewards by increasing the annual spending cap for its signature 4% cash-back benefit.

Here’s everything you need to know about these changes.

Rakuten American Express Card Raises 4% Earning Cap

Beginning July 15, 2026, the Rakuten American Express card will allow cardholders to earn 4% cash-back on up to $10,000 in eligible Rakuten purchases each calendar year, up from the previous $7,000 annual limit.

While the card’s core rewards structure remains unchanged, the higher cap provides greater value for members who regularly make purchases through Rakuten‘s shopping platform.

The Rakuten American Express card, issued by Imprint, is a quality no-annual-fee card that offers some excellent cash-back potential. It earns:

• Additional 5% cash-back on top of the existing 5% earnings at Rakuten Dining for a total of 10% cash-back at 22,000+ partner restaurants
• Additional 4% cash-back on top of earnings on Rakuten’s platform at 3,500 in-person and online retailers, up to $10,000 each calendar year (beginning July 15, 2026)
• 2% cash-back on groceries and restaurants
• 1% on all other eligible purchases

The increased earning cap applies to eligible Rakuten purchases made on or after July 15, 2026.

Spending that qualified for the 4% bonus before the effective date will continue to count toward the new $10,000 annual limit. However, cardholders who have not yet reached the previous $7,000 cap will automatically continue earning the extra 4% cash-back until they reach the new threshold.

How To Redeem Rakuten Cash-Back Rewards

Cash-back rewards earned through the Rakuten American Express card are added to your Rakuten account balance. By default, Rakuten distributes rewards every quarter via PayPal or by mail as a check to eligible members.

However, one of Rakuten’s standout features is the ability to earn American Express Membership Rewards or Bilt Rewards points instead of cash-back. Members who link an eligible account from either program can convert their Rakuten earnings into valuable, transferable points.

Final Thoughts

Rakuten American Express cardholders will earn 4% cash-back on up to $10,000 in eligible Rakuten purchases each calendar year, up from the previous $7,000 annual limit beginning on July 15, 2026.

While this isn’t a major overhaul of the card, it does provide a meaningful improvement for loyal Rakuten users. If you already use Rakuten regularly — and especially if you redeem your earnings as Membership Rewards points — this change makes one of the best shopping rewards ecosystems even more rewarding.