Stack Cash Back and Points: Rakuten's Latest Chase Card Bonuses

If you've been eyeing a Chase credit card, now might be a smart time to apply—especially if you go through Rakuten first. The shopping portal is offering cash back or Bilt points when you're approved for either the Chase Freedom Unlimited or the Ink Business Unlimited. And the best part? These bonuses stack on top of whatever welcome offer Chase itself is running. Let's break down what's on the table.

What's the Deal?

Rakuten is currently offering a bonus when you apply for and get approved for one of two Chase cards through their portal. For the Chase Freedom Unlimited, you'll get $25 in cash back or up to 2,500 Bilt points. For the Chase Ink Business Unlimited, the bonus jumps to $100 cash back or up to 10,000 Bilt points.

These are not Chase's own welcome offers—they're extra rewards from Rakuten. That means you can potentially double-dip: get the Rakuten bonus plus whatever sign-up bonus Chase is offering on the card itself.

One important note: if your Rakuten account is set to earn American Express Membership Rewards points, you won't qualify for this offer. You'll need to switch your earning preference to cash back or Bilt points before applying.

Bilt Points vs. Cash Back: Which Should You Choose?

If you decide to take the Bilt points option, the math depends on whether you have Bilt elite status. With elite status, you get 1 Bilt point per cent of cash back—so $25 becomes 2,500 points, and $100 becomes 10,000 points. Without elite status, the conversion is less favorable: you'd need 2 cents of cash back to get 1 Bilt point, meaning $25 would only get you 1,250 points, and $100 would get you 5,000 points.

For most people without Bilt elite status, cash back is the better choice. You're essentially getting a guaranteed return without any conversion loss. But if you're a Bilt power user and value those points for transfer partners, elite status makes the points option competitive.

Stacking with Referrals and Other Offers

Here's where it gets interesting. If someone in your household already has a Freedom card, they can refer you to the Freedom Unlimited, earning themselves 5,000 Ultimate Rewards points. That's a nice little bonus for them, but it's not as lucrative as the Rakuten offer when it's at its peak.

For the Ink cards, the referral game is much stronger. Chase is currently offering 40,000 points per referral for the Ink Business Unlimited. The catch? The person you refer must never have had a Chase Ink card before. But there's no such restriction on the Rakuten bonus, so you can still get that $100 or 10,000 points even if you've had an Ink card in the past.

Just keep in mind that the Rakuten bonus requires you to keep the new card open for at least three months after approval. Close it sooner, and you might lose the bonus.

Things to Watch Out For

First, this offer is only available through Rakuten's portal—you won't get it by applying directly on Chase's site. Make sure you click through from Rakuten's page.

Second, the bonus amounts can change. In the past, the Freedom Unlimited offer has been as high as $90 or 9,000 Bilt points for new Chase customers. The current $25 is lower, but it's still free money on top of Chase's welcome offer.

Third, only one cash back bonus per Rakuten account. So if you're planning to apply for both cards, you'll only get the bonus on the first one you're approved for through Rakuten.

Finally, applying for a new credit card will result in a hard inquiry on your credit report, which may temporarily lower your score. Make sure you're comfortable with that before applying.

Bottom Line

• Stack Rakuten's bonus with Chase's own welcome offer for extra value.
• Cash back is usually better than Bilt points unless you have Bilt elite status.
• Keep the card open for at least 3 months to keep the bonus.
• Check your Rakuten earning preference—must be set to cash back or Bilt points, not Membership Rewards.
• Offer can change or end without notice, so act if it fits your plans.

Common Questions