Amazing Deal: $40 Bonus For New Rakuten Members

You can pick up bonus points for purchases on online shopping portals. If you follow a specific link, you can earn bonus points or cash back on your credit card spending.

You can earn Amex Membership rewards points with Rakuten, which is my favorite online shopping portal. The best bonus for new members has been brought back. If you haven't yet signed up, this is a great time to do so, as taking advantage of this is a no-brainer.

Rakuten offering $40 bonus for new members

The new refer-a-friend bonus is valid through Monday, May 16, 2022. If you refer a friend to Rakuten and they spend $40, both the person referring and the person being referred will get $40.

If not all refer-a-friend links show this offer, you will want to double check your account. This offer is better than the standard new member bonus, which only offers $10, if you aren't referred by someone else.

This is a good deal.

• Rakuten is giving out $80 total for a $40 purchase
• For the person being referred, they’re essentially getting a $40 credit on a $40 purchase — that’s like $40 of “free” spending!
• There are easy ways to unlock the $40 bonus, including simply purchasing a $40 gift card (this is so easy — you can pick up a $40 gift card with a variety of retailers, and then you’ll receive $40 in cash)
• You can then refer friends and family members, and earn an unlimited number of referral bonuses (OMAAT readers are welcome to leave their referral links in the comments section below)
• Long term you can potentially get even more value with Rakuten, as rewards can be converted into Amex points

Convert Rakuten cash back into Amex points

Amex Membership rewards points can be converted into Rakuten rewards, which is why I like the shopping portal.

The rate is one cent per point. Membership rewards points are 1.7 cents per point. It increases the value of the rewards by 70%. For those wondering why I value Amex points so much more, it's because of all the ways to redeem them for business class international travel.

When it comes to online shopping portals, the ability to earn Amex points with Rakuten is a game-changer. You just need to adjust one easy setting in your account if you want to earn Amex points with Rakuten.

The company has brought back its best-ever new member bonus. The person being referred will get a $40 referral bonus through May 16, 2022. If you are referred by another member, you will get this bonus.

It's like getting more or less for free since only a $40 purchase is required. You can even earn Amex Membership rewards points in place of cash back, which is more valuable to me.

This is the time to sign up if you haven't already done so. This is a great deal.