Its a good card i used it more.hope now i will get gold card
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.
The rates on purchases and balance transfers range from 16.24% APR to 23.24% APR based on applicants' creditworthiness. Cash advances have a 25.49% APR, and there is no penalty rate for late payments.
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.
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.
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 purchase within 30 days of opening their account.
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.
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.
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