[Expired] For 2 Days Only, Rakuten Amex Card Revives Welcome Offer Worth $200 or 20K Points

Updated: August 26, 2026, 11:37am CDT

Edited by:

Jump to Section

Table of Contents

New $200 Welcome Offer and Elevated Cash-Back Rates
Final Thoughts

We may be compensated when you click on a link, when an application is approved, or when an account is opened from one or more of our advertising partners. Terms apply to the offers below. See our Advertising Policy for more about our partners, how we make money, and our rating methodology. Opinions and recommendations are ours alone.

Update:

The offer mentioned below has expired and is no longer available.

The Rakuten American Express^® Card* is now a lot more appealing than before. The online shopping giant has increased the welcome bonus offer from its typical $100 to $200, giving new cardholders much more value than the standard offer — with a $0 annual fee to worry about.

Let’s take a look at the details of this new offer before it disappears on August 25, 2026.

*The information regarding The Rakuten American Express^® Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.

New $200 Welcome Offer and Elevated Cash-Back Rates

Rakuten has given its Rakuten American Express card a meaningful upgrade. The new $200 welcome bonus offer replaces the modest $100 offer, marking a major boost for new applicants.

To qualify, you’ll need to spend $2,000 within the first 90 days — more than previous spending requirements on this card but still a reasonable target for most everyday expenses. This offer is available through the end of the day on August 25, 2026.

The card’s rewards structure remains focused on loyal Rakuten users who shop or dine through the platform:

4% cash-back on eligible Rakuten purchases (online or in-store) up to $10,000 per calendar year, then 1% afterward
Extra 5% cash-back at Rakuten restaurant partners — stacking on top of the standard 5% Rakuten portal rewards
2% cash-back at grocery stores and restaurants
1% cash-back on all other eligible purchases

Because the card is issued by First Electronic Bank and powered by Imprint on the American Express network, cardholders also receive added perks, such as purchase protection and extended warranty coverage.

Although the 4% cash-back boost on Rakuten purchases is capped annually, the elevated earnings still offer meaningful value for anyone who frequently shops through Rakuten’s portal or uses its restaurant network. And if your Rakuten account is linked to American Express Membership Rewards or Bilt Rewards, you can opt to earn points (which we recommend you do if you value travel rewards) instead of cash back — adding even more versatility to this upgraded offer.

Hot Tip:

If you’re not too familiar with Rakuten, it’s one of our favorite shopping portals for earning cash back or Membership Rewards points on online purchases. Refer to our Rakuten review to learn how it works.

Final Thoughts

With its $200 welcome bonus offer and strong cash-back rates, the Rakuten American Express card is now a much more compelling no-annual-fee option. The extra 4% on Rakuten purchases and 5% at restaurant partners make it especially valuable for frequent users. Plus, the ability to receive your earnings as points, rather than cash-back, doubles the value of your rewards.

If you shop a lot on Rakuten, this card could make sense — especially if you want to maximize cash-back and rewards through the portal. Now is a good time to consider applying before the welcome offer changes again.