Rakuten Now Allows Switching Between Cash Back and Membership Rewards Earning in One Account

Rakuten now allows switching between cash back and Membership Rewards earning in one account.

Readers will remember it was only a few weeks ago when I published “Earn Cash Back or Membership Rewards Points with Rakuten.” In that piece, I related what Rakuten had told me at the time…that one person could have both a cash back and Membership Rewards earning Rakuten account, but to do so, separate accounts would need to be set up.

Too bad they didn’t tell me they were about to make the process a lot easier.

One Account – Two Earning Options

Now, Rakuten allows members to switch their one account between cash back or American Express Membership Rewards points.

I’m sure, however, this doesn’t mean you can change daily. While it hasn’t been officially announced, I would expect once earning begins in one category, that’s what you’ll earn for the quarter.

I may be wrong, though…we’ll just have to see as the new option is used.

To change your earning structure, log in to your Rakuten account, go to “My Account” and select the “Account Settings” tab.

In the “Account Settings” section, you’ll see the “How would you like to get paid?” box with American Express Membership Rewards, PayPal and Big Fat Check options.

Select the payment option you prefer and you’re all set for purchases going forward.

The Rakuten Credit Card

I also wrote “Boost Your Rakuten Earnings with the Rakuten Visa Credit Card” last week.

Prior to the ability to change earning structures within one Rakuten account, you had to pick one account – either cash back or Membership Rewards points – to connect the Rakuten credit card.

Now you don’t have to make that decision.

Your Rakuten credit card will be linked to your one account, and the kind of currency it earns will be determined by what you select at any given time.

Rakuten Account

If you haven’t yet signed up for a Rakuten account, now’s a great time to do so.

You can use my referral link to set up your new account and you’ll earn an extra $10 cash back after you make $25 worth of qualifying purchases via the Rakuten site. I’ll get a $25 referral bonus once you meet the purchase requirements.

Thanks in advance for using my referral link.

Wrap Up

Rakuten has made a very positive change to its earnings program.

Now, one Rakuten account can earn both cash back and American Express Membership Rewards points, depending on which earning structure you choose at any given time.

Choice is great, and Rakuten’s just made choosing a much easier process.