Features

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 interest rates.

What are the Interest Rates for Rakuten Rewards MasterCard?

The interest rate on purchases and balance transfers ranges from 16.24% to 23.24% based on applicants' creditworthiness.  Cash advances have a 25.49% 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 5,000 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.

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 interest rates (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 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.

  • Card Type
    Balance Transfer Rewards
  • Customer Type
    Personal
  • Card Network
    Mastercard
  • Minimum Age
    18
  • Co-signing Allowed
  • Grace Period / Deferred Interest
    21
  • Late Payment Penalty
    $37
  • Minimum Interest Charge
    $2
  • Returned Payment Fee
    $35
  • Foreign Currency Transaction Fee
    3%
  • Car Rental Insurance
  • Emergency Support
  • Extended Warranty
  • Flight Insurance
  • Fraud Liability
  • Free FICO Score
  • Lost Luggage Insurance
  • Travel Insurance
  • Air Miles
  • Cashback
  • Points
  • Purchases APR
    16.24% - 23.24%
  • Transfer Fee
    5% ($10 minimum)
  • Balance Transfer APR
    16.24% - 23.24%
js-table-filter bizname-first-national-bank-of-omaha--platinum-edition-visa-card
0
js-table-filter ccard-type-137
js-table-filter ccard-type-136
js-table-filter free-fico-score-575
10.24
0
js-table-filter no-annual-fee-238
js-table-filter no-introductory-apr-350
js-table-filter card-type-12
js-table-filter credit-required-115
js-table-filter credit-required-116

Est. 1857

  • Free FICO Score
  • No Annual Fee
  • 0% Introductory APR
Card Type Balance Transfer
Card Type Rewards
Purchases APR 10.24%
Balance Transfer APR 10.24%
Intro APR period (months) 15
040
js-table-filter bizname-rakuten-rewards-mastercard
0
js-table-filter ccard-type-137
js-table-filter ccard-type-136
js-table-filter every-purchase-138
js-table-filter free-fico-score-575
js-table-filter points-137
16.24
js-table-filter no-annual-fee-238
js-table-filter card-type-11
js-table-filter credit-required-114
js-table-filter credit-required-115
js-table-filter credit-required-116

Est. 1997

  • Every Purchase
  • Free FICO Score
  • Points
  • No Annual Fee
Card Type Balance Transfer
Card Type Rewards
Purchases APR 16.24%
Balance Transfer APR 16.24%
062
js-table-filter bizname-first-national-bank-of-omaha--platinum-edition-visa-card-with-maximum-rewards
0
js-table-filter ccard-type-137
js-table-filter ccard-type-136
js-table-filter points-137
13.99
js-table-filter no-annual-fee-238
js-table-filter card-type-12
js-table-filter credit-required-116

Est. 1857

  • Points
  • No Annual Fee
Card Type Balance Transfer
Card Type Rewards
Purchases APR 13.99%
Balance Transfer APR 9.99% – 19.99% var. APR%
006
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Its a good card i used it more.hope now i will get gold card


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