Editor’s note: This is a recurring post, regularly updated with new information and offers.
One of our favorite online shopping portals here at TPG is back with its annual Big Give Week — just in time for Mother’s Day and any upcoming graduation gift needs.
This week only, Rakuten is offering up to 15 American Express Membership Rewards points per dollar (or 15% cash back) at hundreds of participating retailers. Some existing accountholders are even being targeted for up to 20% (or 20 points per dollar) at select stores.
If you want to get the best deal for your online shopping, click through Rakuten first (yes, that same company with the very fun “Clueless”-themed Super Bowl commercial.).
To use the portal, begin your online shopping trip on the Rakuten website, and search for your desired store. You’ll be redirected to the retailer’s website. After you make your purchase, Rakuten will track your transaction and add bonus rewards to your account — generally within just a day or two.
Better yet, you can also earn an elevated $40 bonus when you spend $40 through Rakuten if you’re a new Rakuten shopper (though you must sign up by 11:59 p.m. Pacific Time on May 15, 2023 to qualify).
Here’s what you need to know about this deal.
Increased cash back with Rakuten
Earning up to 15% (or more) cash back is newsworthy. However, earning up to 15 Amex Membership Rewards points per dollar can be even better for those looking to earn American Express Membership Rewards points.
TPG values Amex points at 2 cents each when used toward travel. That means you’ll effectively get up to a 30% return on spending when making purchases during this promotion. So if you’re getting your credit cards ready for the upcoming summer holidays, this is the deal for you.
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Related: How to use Rakuten to earn bonus cash back or Amex points on your purchases
Just note that you must update your earning preference from cash back to Amex points in your Rakuten account prior to completing your purchase. Also, be aware that switching from Amex points back to cash back is permanent, so think carefully before making that change.
Here are some of the stores participating in this promotion:
- Expedia.
- Aeropostale.
- Levi’s.
- Crocs.
- Champion USA.
- TripAdvisor.
- Columbia Sportswear.
- Converse.
- VRBO.
- Ray-Ban.venture re
- H&M.
- Sunglass Hut.
- GameStop.
- Kate Spade.
- Adidas.
- The Body Shop.
- PetSmart.
- Under Armour.
At most merchants, you’ll want to pay with a credit card that earns bonus points and miles on everyday purchases. Some good options include the Capital One Venture Rewards Credit Card, which earns 2 Capital One miles per dollar on all purchases, and the Citi® Double Cash Card, which earns 2 ThankYou points per dollar on all purchases — 1 point when you buy and 1 point when you pay your bill.
However, on Expedia and VRBO purchases, consider using a card that earns well on general travel purchases like the Chase Sapphire Preferred Card or Chase Sapphire Reserve, which earn 2 and 3 Ultimate Rewards points per dollar spent on travel purchases, respectively.
Related: How to redeem American Express Membership Rewards for maximum value
Stack with credit card offers
Historically, Dell.com has offered bonus points via Rakuten, and it is one of the stores offering 15% cash back. This means now is a great time to spend your Dell credit from The Business Platinum Card® from American Express.
As a reminder, the card provides cardholders with up to $400 in annual statement credits per year toward U.S. purchases with Dell in the form of $200 back in January-June and the second $200 from July-December. Enrollment is required in advance.
In addition to computers, Dell sells projectors, laptop bags, headphones, monitors, video games and more.
You can also stack your monthly Gopuff Chase credits with Rakuten, as it too is a 15% merchant this week. This is a great way to enjoy inexpensive food and a stash of points on your order.
Related: Get $10 per eligible Chase card in Gopuff food and alcohol delivery credits every month
Finally, if you have The Platinum Card® from American Express, you’ll enjoy up to $100 in annual statement credits for purchases at Saks Fifth Avenue ($50 from January-June and another $50 from July-December). Saks is also one of the stores offering 15% back on purchases this week.
If you haven’t yet used this benefit in 2023, you have less than two months left to do so. Enrollment is required in advance.
Bottom line
This week, you can earn up to 15% cash back — or even better, up to 15 Amex Membership Rewards points per dollar spent at Rakuten.
Between this excellent earning rate and the elevated $40 refer-a-friend bonus, you could conceivably earn enough points for free flights to your next vacation spot with surprisingly little effort.
Additional reporting by Andrew Kunesh, Ehsan Haque, Summer Hull, Kyle Olsen and Ryan Smith.
