Rakuten Cash Back Visa Card Will No Longer Earn 3% on Select Gift Card Purchases

The Rakuten Cash Back Visa card is an interesting credit card that earns an extra 3% Cash Back on qualifying purchases made through Rakuten.com, in Store Cash Back Offers, Rakuten Hotels and Rakuten travel. It also earns 1% Cash Back on purchases everywhere else and there is no cap on how much you can earn. It could also earn Membership Rewards points, if linked to points earning Rakuten account.

Now Rakuten has sent out notifications to cardholders announcing a change in the earning rate for these specific websites. It goes into effect on February 15th. Here’s what the notice says:

Starting February 15, 2020, Rakuten Cash Back Visa® Credit Card purchases made through Rakuten on GiftCardMall.com, GiftCards.com and Raise.com will be eligible for 1% Cash Back instead of an extra 3% Cash Back.

Due to circumstances unique to the retail card business, Rakuten is no longer able to offer an extra 3% Cash Back for purchases from these stores.

All other benefits remain the same. You’ll continue to earn an extra 3% Cash Back on qualifying purchases made through Rakuten.com, In-Store Cash Back offers, Rakuten Hotels and Rakuten travel.

Guru’s Wrap-up

Bad news for those who have the Rakuten Cash Back Visa card. You have a few days left to still earn 3% on purchases at GiftCardMall.com, GiftCards.com and Raise.com when you go through Rakuten.

HT: MtM