Rakuten Rewards Mastercard Review

Rakuten Rewards Mastercard is a store rewards credit card issued by First National Bank of Omaha. If you're wondering whether Rakuten Rewards Mastercard is the right card for you, read on. This is everything you need to know to make a good choice.

• Generous reward rate. You will get a cashback rewards rate of up to 3%.
• Signup bonus. Offers a signup bonus of 10000 points that can be redeemed for travel, gifts, or other perks.
• High APRs. This is not a great card for people who carry a balance. It has a variable purchase APR that ranges from 17.24% up to 24.24%.
• No annual fee. This is a great option for people looking for a low-maintenance rewards card. It gives you rewards on your purchases, but you don't have to pay an annual fee for the privilege.
• 5% Balance transfer fee. Rakuten Rewards Mastercard charges a fee of up to 5% on balance transfers. For example, a balance of $1,000 could cost up to $50 in transfer fees. The minimum fee is $10.
• Charges foreign transaction fees. Avoid using this card when traveling abroad because it charges a commission of 3% every time you make a transaction outside the U.S.
• Accepts cosigners. First National Bank of Omaha is one of the few credit card issuers that allows applicants to include a cosigner. Adding a cosigner can really improve your approval chances if your credit is not great.
• Multiple credit card benefits. Includes generous credit card perks, such as price protection, and fraud protection.
• Fair or better credit required. You stand a chance of qualifying if your credit score is not below 640.