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  Rakuten Rewards Mastercard

Rakuten Rewards Mastercard

in Personal Credit Cards from First National Bank of Omaha

Unaffiliated

Rakuten Rewards Mastercard

Unaffiliated

in Personal Credit Cards from First National Bank of Omaha

Net Recommendation Score -33%

SUPERMONEY NET RECOMMENDATION SCORE

-33%

Recommendation score measures the loyalty between a provider and a consumer. It's at 100% if everybody recommends the provider, and at -100% when no one recommends.

Rating not yet determined  

1 user recommends
0 users are unsure
2 users don't recommend
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Highlights
Community Rating

Rating not yet determined  

Purchase APR  (Variable APR) 17.24% - 24.24%
Balance Transfer APR  (Variable APR) 17.24% - 24.24%
Credit Score Range 640 - 850
Annual Fee $0

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.

Key Takeaways
  • 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.
Rakuten Rewards Mastercard Pros & Cons
The Good The Bad
  • No annual fee.
  • Multiple credit card perks.
  • Cardholders can earn rewards on purchases everywhere Rakuten Rewards Mastercard is accepted.
  • Rakuten Rewards Mastercard reports to multiple credit bureaus.
  • Higher than average purchase APRs.
  • Charges a foreign transaction fee of 3%.
  • Charges a 5% balance transfer fee.
Rakuten Rewards Mastercard FAQ

Is there a Rakuten Rewards Mastercard cash back or rewards program?

Rakuten Rewards Mastercard offers a rewards program to its customers.

Rakuten Rewards Mastercard Rewards
Minimum rewards rate (all purchases) 1x
Max rewards rate 3x
Annual rewards limit N/A
Signup Bonus (Points/Miles) 10000

Does Rakuten Rewards Mastercard have a signup bonus?

Rakuten Rewards Mastercard doesn't offer a cash signup bonus. However, it does include a 10000 points signup bonus that can be redeemed for travel, gifts, or other perks.

Does Rakuten Rewards Mastercard offer an annual loyalty bonus?

Rakuten Rewards Mastercard doesn't offer a cash loyalty bonus.

What are the Rakuten Rewards Mastercard benefits?

Rakuten Rewards Mastercard provides the following benefits:

  • Price Protection
  • ID Theft Protection
  • Reports to major credit bureaus

What are the relevant APRs for Rakuten Rewards Mastercard?

According to the Federal Reserve Board, the average interest rate is 15% for all credit cards and 17% for accounts that carry a balance. Rakuten Rewards Mastercard has higher than average purchase APRs.

Rakuten Rewards Mastercard has a variable purchase APR that ranges from 17.24% up to 24.24%. The card has a variable balance transfer APR that ranges from 17.24% up to 24.24%. It also has a variable cash advance APR starting at 26.74% .

Does Rakuten Rewards Mastercard have an introductory APR offer on balance transfers?

No, Rakuten Rewards Mastercard does not come with an introductory APR offer for balance transfers.

Does Rakuten Rewards Mastercard have an introductory APR offer on new purchases?

Rakuten Rewards Mastercard does not offer an introductory rate on new purchases.
Rakuten Rewards Mastercard Purchase Intro Offer
Description
Introductory Rate N/A
Purchase Intro APR Period (months) N/A

What are the fees for Rakuten Rewards Mastercard?

The following fees apply to Rakuten Rewards Mastercard:

Rakuten Rewards Mastercard Fees
Fees Amount
Annual Fee $0
Foreign Transaction Fee 3%
Returned Payment Fee $35
Late Payment Fee $37

Does Rakuten Rewards Mastercard have a foreign transaction fee?

Rakuten Rewards Mastercard charges a foreign transaction fee of 3%. For example, if you spend $2,000 on a week vacation abroad you would pay a foreign transaction fee of $60. If you travel abroad you may want to leave this card at home and apply for one that doesn't charge a foreign transaction fee.

Does Rakuten Rewards Mastercard report your account activity to credit bureaus?

Yes, Rakuten Rewards Mastercard reports your account activity to the following credit reporting agencies:

  • Equifax
  • Experian
  • Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

How to apply for Rakuten Rewards Mastercard

  • Visit the Rakuten Rewards Mastercard website.
  • Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, and annual income.
  • Check the information is accurate and submit your application.
  • If you're denied click here to find out why your application may have been rejected and what you can do about it.

If your credit score is preventing you from qualifying for this credit card, check out our guide for the best credit cards for bad credit.

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...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Availability

  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

Every Purchase (Points) 1x
No Annual Fee  
Annual Fee $0
No Interest Grace Period for Late Payment 21 days
Foreign Currency Transaction Fee 3%
Minimum Interest Charge $1.75
Returned Payment Fee $35
Late Fee Amount $37
Customer Type Personal
Minimum Age 18
Co-signing Allowed  
Supported Income Types
  • Direct Deposit (W2, SSA, SSDI)
  • Cash
  • Payroll Check or Prepaid Card
  • 1099 Misc. Income
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
  • Unemployed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Credit Score Range 640 - 850
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
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
Rewards Categories
  • Every Purchase
  • Office Supplies
  • Software, Hardware, Cloud
Signup Bonus (points) 10,000
Rewards Type Cash Back
Cash Advance APR (Variable APR) Starting at 26.74%
Balance Computation average daily balance (including new purchases)
Purchase APR (Variable APR) 17.24% - 24.24%
Balance Transfer APR (Variable APR) 17.24% - 24.24%
Balance Transfer Fee Minimum $10
Balance Transfer Fee % 5%
Card Type
  • Rewards
  • Store Card
Card Network Mastercard

Rakuten Rewards Mastercard Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

-33%

Recommendation score measures the loyalty between a provider and a consumer. It's at 100% if everybody recommends the provider, and at -100% when no one recommends.

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