Rakuten Amex Card Just Got a Big Boost: 4x Cap Jumps to $10,000

Rakuten has long been a go-to shopping portal for deal hunters and points enthusiasts. You can stack cash back or earn transferable points like Amex Membership Rewards or Bilt Points on your purchases. Now the Rakuten-branded American Express card is getting a meaningful upgrade: the annual spending cap for its 4x bonus on Rakuten purchases is jumping from $7,000 to $10,000. That's a nearly 50% increase, and it could make this no-annual-fee card a lot more appealing for moderate Rakuten users.

What Changed and Why It Matters

Starting July 15, 2026, the annual cap on the 4x bonus for Rakuten purchases increases from $7,000 to $10,000. That means you can earn up to 40,000 extra points or $400 in cash back per year just from the bonus alone. For context, the previous cap limited you to 28,000 points or $280. It's a welcome bump that makes the card more relevant for frequent shoppers who don't go overboard.

If you're using Rakuten for everyday online shopping, this could be a solid fit. But if you're buying in bulk for resale or using gift cards to churn spend, you'll likely blow past $10K pretty fast. The card is really aimed at the sweet spot of moderate, consistent use.

Who Should Get This Card?

This card is perfect for people who use Rakuten a lot—but not excessively. If you spend between, say, $5,000 and $10,000 annually through the portal, the 4x bonus will give you a nice return on top of the portal's base rates. Plus, the uncapped 2x at grocery stores is a nice perk for a no-fee card.

On the flip side, if you're a heavy user who racks up $20K+ in Rakuten spend each year, the cap will limit your bonus earnings. And if you're after a huge welcome bonus, the $100 cash back offer here is modest compared to other Amex cards. You'll want to weigh that against the ongoing earning potential.

• 4x bonus on Rakuten purchases (up to $10K/year)
• 2x uncapped at grocery stores and restaurants
• No annual fee
• Points can convert to Amex MR or Bilt Points for travel transfers

Maximizing the Value: Points vs. Cash Back

The real magic happens when you link your Rakuten account to earn Amex Membership Rewards or Bilt Points instead of cash back. If you already have an Amex card that earns MR, you can set your preference so that the cash back from this card converts to Membership Rewards. That opens the door to transferring to airline partners like Air Canada Aeroplan or Air France/KLM Flying Blue, where you can often get 1.5 cents or more per point.

Alternatively, Bilt Points can be transferred to Hyatt or Alaska Airlines, also at 1:1. Just note that if you don't have Bilt elite status, the conversion rate is 2 cents cash back per 1 Bilt point, which is less favorable. Either way, choosing points over cash can multiply the value of your Rakuten earnings significantly.

What to Watch Out For

First, the 4x bonus only applies to purchases made through the Rakuten portal. You won't get that rate on everyday spending outside of Rakuten. Second, the $10K cap resets each calendar year, so plan your big shopping accordingly. Third, there are no travel protections, so don't rely on this card for trip insurance or baggage delay coverage. Finally, the welcome offer is pretty weak—$100 cash back after $1K spend is fine, but don't expect a huge sign-up bonus like you'd see on premium cards.

Also, note that the 2x at grocery stores and restaurants is on the base earning, not on top of portal bonuses. So if you buy groceries through Rakuten, you'd get the portal rate plus the 4x bonus, not 2x+4x.

Bottom Line

• The 4x bonus cap increase to $10K makes this card more valuable for moderate Rakuten users.
• Pair with Amex MR or Bilt Points for maximum redemption value.
• No annual fee and uncapped 2x at groceries are strong selling points.
• Skip if you're a heavy spender or need travel protections.

Common Questions