Update 12/10/20: Increased rates today again (ht to Grant)
Update 12/9/20: Reader Jeremy confirms that these gift card purchases do earn the 3x rewards rate when paying the Rakuten credit card.
Update 11/26/20: Rates increased again (ht GCG)
Update 11/18/20: They’ve increased their rates across the board making this a more interesting option. (ht GCG)
Original Post:
Rakuten has added a new option to buy brand new gift cards in fixed denomination and earns Rakuten cashback/points.
From a quick look, the cashback rates seem to be mostly 1-2% which isn’t particularly good when compared to MPX, Slide, Raise, etc. Let us know if you see anything particularly interesting here.
It is worth noting that Rakuten has the edge over other gift card sources in that this cashback can be earned (1:1) in the form of Membership Rewards which some value at significantly more than cash. That might make it worthwhile for some.
We’ll add this to our Complete List of Methods to Buy Gift Cards with Discounts and Bonus Rewards.
Hat tip to reader EyesOnThePoints
I ordered $500 of stitch fix GCs during the promo for the citi cards, $500 was charged, gift cards never came. Emailing support has been no response. About to file a dispute with citi, buyer beware.
anybody noticed their purchases from late november have been denied? This is when they were offering 10%. It was part of my decision to make some purchases, but I’m just getting the following, “[Merchant] did not provide Cash Back for this purchase.”
I didn’t know that a merchant can just say “No cash back, sorry” when rakuten was advertising 10%….
My lego purchase didn’t track. I emailed them with a copy of my order confirmation (after it shipped) and said I didn’t get my 10%. Fixed in a few hours.
This may have been the one where I submitted ticket on site and then followed up on the case tracking email with the order confirmation since it said “reply to email to add details. “
Hope that helps.
Contact Rakuten and ask them to investigate. I have had to do that a couple of times and they have always made me whole in the end.
They always make it up to you.
I know rakuten tracking has been a bit of a challenge to deal with. I see purchases being misallocated time slot etc.
The Rakuten Credit Card does earn 3% on purchases for Gift Cards. I purchased a gift card 12/05 and it reflects 3x.
I’ll add a note, thanks
Does anyone know if this triggers the referral spending requirement?
P2 is addicted to stitch fix.. 7MR looks good compared to 8% from raise pay.
What is stitch fix? This is the first time I hear of this.
An overpriced clothes subscription service. Don’t bother. Well, if you want I can send a referral though haha.
Thanks.. don’t have it this time. I’ve used all the chase and amex offers before.
I have cheesecake factory gift card and people will only buy it on second hand market for more than 33% discount.
Where do you buy/sell second hand gift cards at a discount?
If you’re still stuck with the GC, the highest discount on Raise is currently 6.1% off. At a discount of 6.5%, you’d be getting 79.5% face value after non-bulk seller fee of 15%. The only thing is there’s barely any demand for their GCs (7 have sold in the last day on Raise), and they don’t accept $15 denomination gift cards.
How does the charge appear on your statement?
if I buy $40 worth of gift cards. Would that trigger the $40 friend bonus they have?
Since Corona I keep everything as simple as possible
No gift cards
I use the gift cards online all the time. I avoid the ones I can only use in person.
Can you get an additional 3% back with the Rakuten card on this?
Good question, I don’t know
Any updates on this?
I’m interest in this question too…
Being reported as yes.