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Rakuten Rewards Mastercard

in Personal Credit Cards

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Rakuten Rewards Mastercard

Unaffiliated

in Personal Credit Cards

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Overview

Who is the Rakuten Rewards Mastercard Designed For?

The Rakuten Rewards Mastercard is designed for people with fair to good credit who frequently shop at Rakuten.com and who want to earn points for their purchases. Rakuten.com is an e-commerce marketplace based in Aliso Viejo, California that is owned by Rakuten, Inc., the largest e-commerce retailer in Japan. The card, which is operated by the Bank of Omaha, doesn't have an annual fee and offers relatively low rates.

What are the Rates for Rakuten Rewards Mastercard?

The rates on purchases and balance transfers range from 17.24% APR to 24.24% APR based on applicants' creditworthiness. Cash advances have a 26.49% APR, and there is no penalty rate for late payments.

What Are the Fees for Rakuten Rewards Mastercard?

As you would expect from a store credit card, the Rakuten Rewards Mastercard doesn't have an annual fee. It does have a 5% ($10 minimum) on balance transfers, a 5% ($15 minimum) cash advance fee and a 3% foreign transaction fee. Needless to say, this is not a card you want to use for cash advances, balance transfers or purchases made outside of the United States. 

Late payments incur a $37 fee and returned payments have a $35 fee.

What Is Rakuten Rewards Mastercard Rewards Program Like?

The rewards program gives shoppers 3 Rakuten points for every $1 spent on Rakuten.com and one point per dollar for all other purchases. Rakuten points can then be used as cash when shopping on Rakuten.com. Every point is worth 1 cent. For instance, 10,000 points have a $100 value. Notice Rakuten points can only be redeemed for Rakuten purchases and cannot be transferred for cash, gift cards or travel.

What about Rakuten Rewards Mastercard Signup Bonus?

New Rakuten Rewards Mastercard members receive 8,000 bonus points just for getting approved and can earn an additional 2,000 points if they make three purchases within 30 days of opening their account.

Does the Rakuten Rewards Mastercard Have Any Other Benefits?

Rakuten Rewards Mastercard stands out from the crowd of department store cards by offering valuable travel and shopping benefits to members. These include price protection and extended warranty on purchases made with the card, travel & accident insurance, and a car rental collision damage waiver.

Rakuten cardholders also get free access to their FICO credit score.

How Is Rakuten Rewards Mastercard Better Than Other Credit Cards?

The Rakuten Rewards Mastercard combines a modest signup bonus with relatively low APRs (for a department store credit card), no annual fee and high rewards rates on Ratuken.com. 

All other purchases only provide 1 point per $1 so it doesn't work as a great card for everyday purchases. However, it's an excellent dedicated credit card for avid shoppers at Rakuten.com who can benefit from the 3x reward points for every dollar they spend on the online marketplace.

SUPERMONEY Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...

Availability

Alaska Alabama Arkansas Arizona California Colorado Connecticut Washington, D.C. Delaware Florida Georgia Hawaii Iowa Idaho Illinois Indiana Kansas Kentucky Louisiana Massachusetts Maryland Maine Michigan Minnesota Missouri Mississippi Montana North Carolina North Dakota Nebraska New Hampshire New Jersey New Mexico Nevada New York Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Virginia Vermont Washington Wisconsin West Virginia Wyoming
  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

No Fees
Grace Period for Late Payment (Days)
21
Annual Fee
$0
No Annual Fee
 
List of Fees
Late Payment Penalty
$37
Returned Payment Fee
$35
Minimum Interest Charge
$1.75
Balance Transfer Fee %
5%
Balance Transfer Fee Minimum
$10
Foreign Currency Transaction Fee
3%
Minimum Age
18
Co-signing Allowed
 
Credit Score Range
640 - 850
850 300 640
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
  • Unemployed
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Supported Income Types
  • 1099 Misc. Income
  • Cash
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
Customer Type
Personal
Car Rental Insurance
 
Extended Warranty
 
Fraud Liability
 
Travel Insurance
 
Emergency Support
 
Free FICO Score
 
Credit Card Benefits
  • Auto Rental Collision Damage Waiver
  • Emergency Support
  • Extended Warranty Protection
  • Fraud Liability
  • Free Credit Score
  • Identity Theft Protection
  • Price Protection
  • Travel Accident Insurance
  • Travel Assistance
Bonus Rewards
3x
Every Purchase
1x
Rewards Categories
  • Every Purchase
  • Office Supplies
  • Software, Hardware, Cloud
Signup Bonus (points)
10,000
Percentage
Purchase APR
(Variable APR)
17.24% - 24.24%
    0% 29%
Percentage
Cash Advance APR
(Variable APR)
Starting at
26.74%
Balance Computation
average daily balance (including new purchases)
Percentage
Balance Transfer APR
(Variable APR)
17.24% - 24.24%
    8% 29%

Reviews

 
 

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Product

Reviews

Purchase APR

Balance Transfer APR

Annual Fee

Credit Score Range

First National Bank of Omaha Platinum Edition Visa Card

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5
7 total votes
Purchase APR 11.49% - 19.49%
(Variable APR)
    0% 29% Variable APR
Balance Transfer APR 11.49% - 19.49%
(Variable APR)
    8% 29% Variable APR
Annual Fee $0 Annual Fee
Credit Score Range 700 - 850     300 850