Rakuten American Express
First Electronic BankNo annual feeAmerican ExpressNo foreign transaction fee
The welcome offer is too small to apply for on its own.
Already have it? Keep it.
Welcome bonus
$100
after $1,000 in purchases in the first 3 months
Family Rules, 1 per 60 Days and 1 more. Am I eligible?
A typical spender, at Miles' point values.
| First-year value | Amount |
|---|---|
| Welcome bonus$100 cash | $100 |
| Rewards above a 2% no-fee cardvs Double Cash, on $32,500 typical spend | +$96 |
| Annual fee | $0 |
| Meeting the $1,000 minimumearns 1.5% here vs 2% on Double Cash | −$5 |
| First year | $191 |
| Each year after | +$166 |
Not counted in the first year: protections (each year after counts them).
Earning
| Rate | Category | Return |
|---|---|---|
| 2X | Grocery | 3% |
| 2–5X | Dining5X (extra) through the issuer's portal, 2X elsewhere | 3–7.5% |
| 4X | Purchases made through Rakutenlimit $10K in card spend per calendar year; then 1X | 6% |
| 1X | Everything else | 1.5% |
Personal card · Earns American Express Membership Rewards
Benefits
Protections (2)
- Purchase Protection, up to $1,000, Covers eligible purchases against damage or theft for 90 days
- Extended Warranty, up to $10,000, Extends manufacturer warranty by up to 1 year, coverage up to $10,000 per item
Other Perks
- Ability to convert earned cash back to Membership Rewards if you hold another MR-earning Amex
- Access to Amex Offers for shopping, dining, and travel
- Access to Amex Experiences for music, entertainment, theater, and more
Sources and methodology
First-year value is Miles' estimate for a typical spender: the welcome bonus at Miles' point values, plus the rewards this card earns above the best no-annual-fee card's everyday rate on a typical year of spending, plus credits at the share a typical holder uses rather than their face value, plus any certificate or free night earned in that year, minus the first-year fee and the cost of putting the minimum spend on this card instead of that one.
Lounge access, elite status, other benefits, purchase and travel protections, and a certificate or free night that arrives on the card's anniversary are listed beside the first-year figure, not in it. Each year after counts them, with the rewards and credits, less the annual fee. A credit or benefit that needs a spend or a stay counts only where its condition is printed beside it, and credits gated on spend most people never reach are left out.
The fee, offer, earning rates, credits and protections come from the card's record in the Miles dataset, kept against the issuer's own terms. The verdict line is chosen from a fixed set of sentences by Miles' analysis of the offer and the card; nothing on this page is written by hand for one card.
Recent changes
- changed from null to Rakuten CardOct 8, 2026
- changed from $200 bonus cashback after $2K spend in the first 90 days to $100 bonus cashback after $1K spend in the first 90 daysSep 29, 2026
- changed from 2000 to 1000Sep 29, 2026
- changed from $100 bonus cashback after $1K spend in the first 90 days to $200 bonus cashback after $2K spend in the first 90 daysSep 28, 2026
- changed from 1000 to 2000Sep 28, 2026
- changed from $200 bonus cashback after $2K spend in the first 90 days to $100 bonus cashback after $1K spend in the first 90 daysAug 26, 2026
- changed from 2000 to 1000Aug 26, 2026
- changed from $100 bonus cashback after $1K spend in the first 90 days to $200 bonus cashback after $2K spend in the first 90 daysAug 24, 2026
- changed from 1000 to 2000Aug 24, 2026
- changed from null to 1000Aug 13, 2026
- changed from null to 90Aug 13, 2026