Rakuten is my favorite online shopping portal, and it lets you earn bonus rewards for purchases you make online. Historically, Rakuten has offered the ability to earn cash back or Amex Membership Rewards points for online shopping, with the latter being a more compelling option (at least for those good at maximizing points).
We recently saw an exciting update, as Rakuten added a new rewards currency you can earn, and it might just be the best one yet… at least for some. I first wrote about this a few weeks ago, when this opportunity was announced. However, I’d like to provide an update, as we’ve learned some more things about the logistics of this since that time.
In this post:
Bilt & Rakuten partner for shopping portal rewards
As of November 2025, it’s possible to earn Bilt points for online shopping with Rakuten:
- For payouts through May 15, 2026 (Rakuten pays out quarterly), all Bilt members will receive a 1:1 conversion rate, meaning every $10 in Rakuten cash back equals 1,000 Bilt points
- After that introductory period, Bilt Silver, Gold, and Platinum members, will maintain that transfer ratio, while non-elite Bilt members will receive 50 Bilt points per dollar in Rakuten cash back
- Those rates remain subject to change over time, and note that points earned through this partnership don’t count toward Bilt elite status
How can you start earning Bilt points with Rakuten? If you’re not yet a member of Rakuten, I’d recommend signing up through a refer a friend link before you set up your account for this partnership. That’s because the current refer a friend bonus gets you $50 in rewards (5,000 Bilt points) upon completing eligible activity, while Bilt’s offer only gets you 2,500 Bilt points in rewards.
So once you have a Rakuten account, you’ll want to either visit the partnership page on Bilt’s website, or go to the Bilt app. Once in the Bilt app, navigate to the “Rewards” section, and then select the “Everyday rewards” section. There you’ll see the “Earn points with Rakuten” heading, so click on “Get started.”
If you have an existing account (or even if you don’t), click on the “Create account & link” button. Make sure that the emails associated with your Bilt and Rakuten accounts match.
You’ll just have to click “Continue” on the next page, and then you should see that your account linking is successful.
Once you’ve successfully linked your accounts, you can log into your Rakuten account and go to the “Account” section, and you’ll see that the account shows that you’ll be earning Bilt points as your reward. All rewards amounts show in cash, but are then converted into Bilt points at the above rate.
What’s interesting is that all your rewards earned this “rewards cycle” (Rakuten pays out every three months) are eligible to earn Bilt points, even if you were previously supposed to earn Amex Membership Rewards points. So it’s awesome that you can retroactively switch that.
This is also why it’s great to use a refer a friend link if you’re not yet a member, to earn $50 upon completing qualifying activity, since that can then be converted into Bilt points.
Is earning Bilt points with Rakuten worth it?
As mentioned above, I’m a big fan of using Rakuten for my online shopping. I’ve historically always chosen to earn Amex Membership Rewards points, given that you can essentially earn one Membership Rewards point in lieu of one cent cash back. Since I value Amex points at well over one cent each, that’s an advantageous rate of return.
Now it’s possible to earn Bilt points with Rakuten in the same way you can earn Amex points. During an introductory period, everyone can earn one Bilt point in lieu of one cent cash back, so that’s a no-brainer. In the long run, only elite members can maintain that rate, while others earn one Bilt point in lieu of two cents cash back.
So, what’s my take on the value here?
- I’d rather earn one Bilt point than one Amex point, since Bilt points are generally harder to earn, given the lack of card welcome bonuses, and Bilt has some unique partners
- For the first six months that’s true across the board, while in the long run, I’d rather earn one Amex point than 0.5 Bilt points, assuming I were a non-elite member
So this is now my preferred way to earn rewards with Rakuten, and I’m very happy to see this development.
Bottom line
Bilt and Rakuten now offer a partnership, letting Rakuten members earn Bilt points for their online shopping. Initially, all Bilt members can earn one Bilt point in lieu of one cent cash back, which is a great rate of return. Meanwhile beyond the introductory period, only Bilt elite members will earn that rate of return, while others will earn one Bilt point for every two cents cash back.
It’s nice to see Rakuten now partnering with two points currencies, as this is a nice alternative to earning Amex points with Bilt. And if you’re yet a Rakuten member, make sure you sign-up through a refer a friend link, given the current best-ever bonus. That can earn you $50, or 5,000 Bilt points.
What do you make of Bilt being added as a Rakuten partner?
I'm glad that Bilt confirmed that the 5/15/26 transfer date will also be 1:1 (and thanks for asking them to clarify). I thought they were playing it a little coy there for awhile - clearly they knew how Rakuten transfer windows worked and tried to be a little cute about it, and it then took them a few days once folks called them on it to extend the 1:1 offer. Especially with the new cards...
I'm glad that Bilt confirmed that the 5/15/26 transfer date will also be 1:1 (and thanks for asking them to clarify). I thought they were playing it a little coy there for awhile - clearly they knew how Rakuten transfer windows worked and tried to be a little cute about it, and it then took them a few days once folks called them on it to extend the 1:1 offer. Especially with the new cards coming out in February... I don't know!
Bottom line - no reason not to earn Bilt points for the next two transfer windows on 2/15 and 5/15, and happy I was able to get a good chunk on 11/15/25.
Long time reader. Always wondered how impartial some of the 'close call' posts were.
Now I know. The nudge for readers to put Rakuten bonus towards Bilt Vs Amex because 'they're harder to earn' isn't entirely authentic. They might be harder to earn, but it's a 6 month window, and actual value is marginal. And short term.
Bit disappointed that wasn't clarified, and I trust OMAAT a bit less because of it.
Sorry I disagree with your reasoning.
The impartiality of OMAAT is valid to debate. This blog is plainly a for-profit enterprise.
Bilt points are vastly superior to Amex when it comes to value in transfer partners, both in having domestic loyalty programs that you can actually use (Hyatt, Alaska, United). Amex pretty much limits you to foreign programs like Singapore from which you can book a very limited subset of United award flights. Amex does...
Sorry I disagree with your reasoning.
The impartiality of OMAAT is valid to debate. This blog is plainly a for-profit enterprise.
Bilt points are vastly superior to Amex when it comes to value in transfer partners, both in having domestic loyalty programs that you can actually use (Hyatt, Alaska, United). Amex pretty much limits you to foreign programs like Singapore from which you can book a very limited subset of United award flights. Amex does have some domestic partners like Delta, but you are charged a nonnegligible excise tax. Bilt eats the tax. (Not special to Bilt - Chase, Citi, etc. all eat the tax. Amex is unique in pawning it off to you.)
The 6 month window doesn't mean anything to me. Shop and earn per usual. You will get your points at some point.
It's like how tech workers are paid predominantly in RSUs which vest only every 3 months, whereas a normal cash salary hits your checking account every 2 weeks. A white collar worker's cash flow is such that a payment frequency of 2 weeks vs. 3 months doesn't matter.
If you shop cheaply or infrequently enough to have to fret about the window in which you earn your Rakuten rewards, then you're not earning much of value whether you choose to be rewarded in Bilt or in Amex points.
G'day! (Wait! I'm not DCS. Or am I??)
@ JulesM -- I appreciate you reading! I respect your opinion, but I just don't think that's a very fair take. For one, a lot of people have Bilt elite status, so it's not just for six months. And for those without Bilt elite status, I specifically noted the six month restriction (I'm confused how you can say that this wasn't clarified?).
More importantly, in questioning my impartiality, I have zero incentive for someone...
@ JulesM -- I appreciate you reading! I respect your opinion, but I just don't think that's a very fair take. For one, a lot of people have Bilt elite status, so it's not just for six months. And for those without Bilt elite status, I specifically noted the six month restriction (I'm confused how you can say that this wasn't clarified?).
More importantly, in questioning my impartiality, I have zero incentive for someone to credit to Bilt rather than Amex. So I'm sorry to disappoint you, but my advice is based on my honest opinion and perception of the points currencies, rather than any outside influence. For example, I switched my earnings from Amex and Bilt. So you can disagree with my logic, but that's the only thing I'm guilty of here.
That's fair enough. Not sure why my initial read gave me the impression otherwise. Apologies for weighing in a bit heavy!
@ JulesM -- I appreciate you reading, and the ability to have a dialogue! :-)
Do you see any chance of something nasty happening to Bilt points after transition to Cardless?
No. Maybe Hyatt transfers get nerfed or to like a 1,000 Bilt - 500 Hyatt point ratio, but that's not nasty. You want nasty? Go to the strip on Vegas and wait to be approached by a woman offering you a good time. Be sure you're current on your Hepatitis and HPV vaccines.
The T&Cs say the transfer window is only good for six months unless Bilt extends. Six months from launch is 5/6/26. Rakuten transfers quarterly. So the windows in the six months are 11/15/25 and 2/15/26. (The 5/15/26 window is outside of the six months). Rakuten also takes a long time to confirm points. So unless you have Bilt status or Bilt extends this is only good for purchases made basically right now so that Rakuten...
The T&Cs say the transfer window is only good for six months unless Bilt extends. Six months from launch is 5/6/26. Rakuten transfers quarterly. So the windows in the six months are 11/15/25 and 2/15/26. (The 5/15/26 window is outside of the six months). Rakuten also takes a long time to confirm points. So unless you have Bilt status or Bilt extends this is only good for purchases made basically right now so that Rakuten confirms by 2/15/26.
Am I missing something?
@ Peter -- It's a great question, and I've asked Bilt about that and will report back.
Rakuten on a Reddit thread said you have to choose by 11/10 to get Bilt points for the 11/15 transfer date. Have not seen anything about whether the 5/15/26 transfer date will qualify.
I don't plan to have Bilt Status long term, if I change to do Bilt does anyone know if it will be possible to change back to AMEX at a later date? Also, I only see create and link a new Bilt account, not link a current one. And it will only let me create one with the email I use at Bilt.
@ Rick -- I just updated the post to show how you can link your account if you already have one, as it's not very clear in the app or on the website. Yes, you can switch back to Amex points earning later.
Exactly. I know that others have had issues switching back to Amex MRs after switching away. Proceed with caution!
Rakuten is having so many issues with linking accounts it’s
Horrible and almost comical
Question: I will opt into Bilt for the introductory period, but for those who don't have access to Amex points, would you prefer Rakuten cash back or 0.5 Bilt points after the 6 month intro period? In the past, I've used an airline portal if the rates were similar, so that's another consideration.
@ Rafael -- That's tough to say, it all comes down to whether you value Bilt points at more than two cents. Personally. I probably wouldn't spend two cents "out of pocket" per Bilt point, but there are definitely ways to get outsized value, so...
Good timing. Gotta save up those AS miles in prep for Rome/London.
In the past, users have reported that once you switch away from Amex Membership Rewards, you can't switch back. Does that apply here? Wouldn't be worth the risk given the poor transfer ratio if you're not a Bilt elite member.
I can switch willy nilly between BILT, Amex, Paypal and a big fat check.
Big fat, heh. I wonder if they named that after Gary Leff.
Note: the terms state that they may offer a 2500 point inducement to link. Obviously, I linked before I saw it. If you haven't made the link yet, it might make sense to wait a week or two to see if they offer an inducement to link it.
But this is a big deal for me. I've been leaning into C1 offers and C1 shopping, but Bilt points -- all else being equal -- are the most appealing points.
@ Brent -- The bonus of 2,500 points is for new members who aren't yet Rakuten members. However, there's no reason to sign-up that way, since the refer a friend link is better.
Great for Rakuten’s users; bad for BILT (the company, more liabilities). Ankur, my dude, Cardless is the end for you guys; enjoy that WF gravy train while you can, dawg!
Does anyone know if we have current points for 11/15 deposit - can we switch to check and then switch to bilt to get points to go to bilt? or does it have to be next deposit after 11/15?
I just made the switch and the site is showing my payment will be made to Bilt (it's showing as a $ amount and not number of points), so I'm assuming it's the case.
I think they are doing a/b roll out. I don't see bilt option as of right now
@Amex-questioner you should see the option to link in your Bilt app (had to do a force restart to get it to show up),
@ Amex-questioner -- I just updated the post to reflect how you can link accounts, since it's not necessarily that obvious.
Concerned that it switched to cash instead of points in my Rakuten account once I linked Bilt.
I have 45k points paying out on 11/15. Would love for those to be Bilt instead of Amex but if I can't trust that they will transfer as points rather than cash, I might switch it back
@ 305 -- It's my understanding that this is how it's supposed to work. I've done the same, and those should post as Bilt points on November 15... hopefully!
Glad to see this implemented soon after the rumors came out. Getting Silver status with Bilt shouldn't be too difficult for me on an ongoing basis (already have it for 2026), so I'll be switching over. I don't expect to bother with Gold or Platinum so hopefully it'll stay Silver and above of 100 pts/$ long-term.