Promo: 20% Cash Back (Or 20x Amex Points) With Rakuten

Online shopping portals can be a great way to pick up additional miles & points for purchases you’d make anyway. Just for following a specific link you can earn bonus points or cash back in addition to the rewards you’d earn for credit card spending.

Whenever I make an online purchase I always check to see which shopping portal has the best bonus. Rakuten has just launched its Cyber Monday promotion, and it’s the best offer we’ve seen from the portal in quite a while. When you stack it with Rakuten’s new member bonus, there’s lots of potential here.

Rakuten’s 20% cash back promo

Rakuten, which is one of the largest online shopping portals (and my all around favorite), has just launched its Cyber Monday promotion, valid today only. With this, you can earn 20% cash back with 300+ retailers. These retailers ordinarily offer significantly less return than that, sometimes as little as 1%.

This is especially great if you’re looking to buy products that have consistent pricing across retailers, as is often the case with cosmetics, perfumes, etc. Getting significant savings for those purchases is something that can otherwise be tough to find. There are all kinds of retailers on this list, from clothing stores, to office supply stores, to department stores, and more.

For example, Neiman Marcus is offering 20% cash back on most items, and sells all kinds of products you might typically buy with other retailers.

Earn 20x Amex points instead

20% cash back is awesome, but what’s even better is earning 20x Amex points. Nowadays you can choose to earn Amex points instead of cash back with Rakuten, at the rate of one cent per point.

Personally I value Membership Rewards points at 1.7 cents each. To me, earning 20x Amex points is the equivalent of 34% back, which is incredible. The ability to earn Amex points with Rakuten is a game changer for me when it comes to online shopping portals.

See this post for everything you need to know about earning Amex points with Rakuten.

New to Rakuten?  

Rakuten has a great refer-a-friend program. If you’re new to Rakuten you can register using my link, and then you’ll earn an additional $40 bonus after completing your first purchase of at least $40. You can even unlock this bonus with a simple gift card purchase.

Once you register for your account just change your earnings preference to Amex points, and then you can earn Amex points for all of your purchases. The $40 bonus is a best-ever offer from Rakuten, so this is a great time to sign-up for a Rakuten account.

Bottom line

For Monday, November 28, 2022, you can earn 20% cash back (or 20x Amex points) for purchases with hundreds of retailers. This is the best offer of the year from Rakuten. When you combine this with Rakuten’s $40 new member bonus, the deal gets even better.