Online shopping portals can be a great way to pick up additional 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.
I’ve already written about how my favorite online shopping portal is offering an awesome limited time bonus for new members. This is just a reminder of that for those who haven’t yet taken advantage of this, as the promotion ends tomorrow.
Rakuten offering $30 bonus for new members
Through Monday, May 11, 2020, Rakuten is offering the best refer-a-friend bonus I recall seeing from them.
If you refer a friend to Rakuten and they spend $30, then both the person referring and the person being referred receive $30. In order to be eligible, the person being referred needs to sign up by May 11, 2020.
This is an exceptionally good deal:
- Rakuten is giving out $60 total for a $30 purchase
- For the person being referred, they’re essentially getting a $30 credit on a $30 purchase
- You can then refer friends and family members, and earn an unlimited number of referral bonuses
- Long term you can potentially get even more value with Rakuten, as rewards can be converted into Amex points
- You can really easily make a purchase, including triggering this bonus with a simple $30 gift card purchase; see this post for the easiest ways to maximize this bonus
Convert Rakuten cash back into Amex points
The reason that Rakuten is my favorite shopping portal is because Rakuten rewards can be converted into Amex Membership Rewards points.
This can be done at the rate of one cent per point. Personally I value Membership Rewards points at 1.7 cents each. To me that increases the value of the rewards by 70%.
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, as you just need to adjust one easy setting in your account.
Rakuten is my favorite online shopping portal, and at the moment they’re offering a $30 referral bonus to both the person referring and the person being referred.
Since only a $30 purchase is required, that’s basically like getting $30 worth of stuff more or less for free. Then long term you can even earn Amex Membership Rewards points in place of cash back, which I value significantly more.
If you don’t yet have a Rakuten account, this is the time to sign up.