Contents
The Offer
- Rakuten is offering $50/5,000 when you signup for an account with Raisin and deposit $100.
Our Verdict
I wrote about Raisin/SaveBetter in the past. We don’t usually post bank bonuses of less than $100, but this one seems simple and some people might be interested. If you value Membership Rewards points at more than 1:1, this deal gets spruced up even more.
You can find our Rakuten referral link in this post (though currently the bonus is not at its peak).
Hat tip to reader AAA
View Comments (46)
Rakuten bonus now at $100.
Discussed here: https://www.doctorofcredit.com/raisin-up-to-200-savings-bonus-referral-savebetter/
Opened 3/2 with $110 deposit
Tracked same day
CB posted 3/6
Not only did Rakuten stiff me (said "tomorrow"), opened and deposit hit 1/27, looks like they removed Raisin, did not respond to my ticket, and Swagbucks put up more the next day for Western Alliance.
Resolved in good faith 2/7. Said Raisin had not credited the amount to them yet, but they paid me anyways.
You can select other banks besides Western Alliance on Raisin. And mine credited automatically, just after the deposit posted
In the same boat with P2. They responded to me right away and credited me, but so far no response for my spouse. I will keep on them. Swagbucks is no picnic either. Half the time, things don't track and have to go after it with them.
Signed up evening of 1/30, deposit posted 2/1, cha-ching email from Rakuten morning of 2/2.
Now waiting to see if the referral bonus stacks, but that probably won't hit until June.
Signed up on deposited on 1/26 but have not received any bonus yet.
manually credited through multiple help tickets 2/15
Rakuten bonus posted today
Any cc funding?
No
Signed up and initiated deposit 1/25, received 1/30. So I guess they wait for the deposit to go through
Do they pull chex? idk if this is worth a chex pull tbh
They did not pull Chex
I checked my report the same day (non-biz hours, at least EST) and there was nothing. I'm not sure how soon Chex pulls take to show up though
Still nothing on Chex 👍 I picked Western Alliance, not sure if that makes a difference
Rakuten banned my account permanently.. they wouldn't say why "blah blah blah we can do anything ToS" and they responded the same "blah blah ToS" to my BBB complaint. It's pretty sad. I had $150 in cashback that I earned fair and square. Where else can I file a complaint? It's the first cashback site that ever banned my account. It could be from using VPN occasionally.. but not sure because they refuse to say
BBB is basically Yelp for old people and doesn't actually have any power whatsoever. If you want to seriously push your complaints up the chain, the CFPB is where it's at, but I'm not sure if Rakuten falls under their purview
You're absolutely right. I'm not sure where CFPB will send it.. but it's worth a shot. I earned that cashback fairly.. I think I was banned for either having a previous account (lost password) or VPN.. either way it sucks and sucks when a company is unreasonable like that which does happen occasionally.
@guest_1785928 Also consider contacting the Attorney General in your state, the consumer protection division of the local DA's office, or suing in small claims court. But you have to be realistic about what you can and cannot accomplish. You cannot force Rakuten to reopen your account. You should be able to argue successfully that they have to give you your $150 because for them to keep it is unjust enrichment and/or an unfair business practice (the exact label will depend on the law of your state).
Good luck!
@guest_1786089 thanks for this reply! I was looking for the correct wording and I think you nailed it in your last sentence!
I was in a similar situation to yours. The CFPB forwarded my complaint to the Federal Reserve Bank of SF. They told me what I already knew which was basically nothing. "Blocked by the bank's internal risk controls," "these controls are sensitive in nature," "we are unable divulge any information," "we can confirm this is pursuant to the TOS," etc.
In my case, I think the bank was using the "security" excuse to drive away a non-profitable customer and doing their best to make it look like I was security risk without having to accuse me of something they knew wasn't true. I wasn't doing anything the least bit shady and was using my account according to their terms. The supervisor I spoke with said she knew what the problem was but couldn't say anything more. I do know I wasn't profitable for them at all.
As a lot of these companies will usually tell you somewhere in their terms, they can terminate your account with or without cause at any time.
BBB has worked for me a few times at resolving issues (filing a complaint through BBB, not a review). Some companies have employees that specifically follow up to BBB complaints. On the BBB website you can see complaints and responses to get a sense of if they are responding and what sort of response they are giving. Not saying it is the only or most aggressive route, but it can work.