Rakuten Earning Rates
It's been a fun five months of earning Bilt Rewards through Rakuten. The shopping portal game changed completely last November, when Bilt launched as a Rakuten payout option, alongside American Express Membership Rewards and traditional cash back. Bilt's transfer partners are among the strongest in the points and miles world. And considering you don't even need to hold a Bilt credit card to participate in its rewards program, this instantly became an enticing way to earn large amounts of high-value points. But there's a catch. Bilt's Rakuten earning rates are set to change after the first six months. The current rates expire after the May 15 payout date. Here's how to plan for what's next.
Rakuten Earning Rates + Upcoming Changes
It's always sweet to earn cash back for purchases you're already planning anyway. (If you're unfamiliar with how Rakuten works, start with our full guide, which includes a best-ever signup bonus.) But the shopping portal can be particularly powerful for those who elect to receive their payouts as points. There are currently two points options available, with Rakuten earning rates as follows:
Bilt Rewards
The partnership rollout came with a limited-time promotional 1:1 earning rate for all Bilt members, regardless of status.
- For the first six months: All Bilt member status tiers enjoy a 1:1 conversion rate. ($10 in Rakuten Cash Back = 1,000 Bilt Points.)
- After the first 6 months: Conversation rates will be based on status:
- Bilt Rewards Blue: Members will receive 50 Bilt Points for every $1 in Rakuten Cash Back.
- Bilt Rewards Silver, Gold + Platinum: Members will maintain the current rate. (Equivalent to 100 Bilt Points for every dollar, or 1,000 Bilt Points for $10 in Rakuten Cash Back.)
The introductory rate will hold for all members through the May 15 payout, as Bilt confirmed at the time to outlets like Frequent Miler. (Bilt's official terms also note that the rates are subject to change at any time.) Notably, cardholders who have earned the Bilt Palladium welcome offer will be afforded Gold status through 2026 and all of 2027.
American Express Membership Rewards Points
It has long been possible to earn Amex MRs through Rakuten at a 1:1 ratio. A Rakuten 10% Cash Back offer will earn you 10X MRs. Though Rakuten explains their earning rates differently, both Bilt and Amex have effectively been earning at the same 1:1 ratio since November. But that will soon change for those who only have Bilt's Blue status.
How + When To Change Your Rakuten Payout Option
Rakuten has now made it possible to update your payment method at any time. If you are happy with where your earnings are currently being sent for the May 15 payout, there is no need to change anything until afterward. But once you have received your May 15 payout, you can re-evaluate the Rakuten earning rates to decide which currency you'd like to earn. Here is how to adjust your payment settings, if you decide to do so:
- Click on your current earnings amount.
- From the app, tap “Choose How You Get Paid.” On the website, select “Account Settings” and scroll down to payment options.
- Select your preferred Rakuten payment method. You may be prompted to re-enter your account information.
- Shop at participating Rakuten stores as you normally would, and you'll automatically receive earnings in your selected currency by the August 15 payday.
How To Tell Which Rewards You'll Earn From A Recent Purchase
Planning to switch from Bilt Rewards to Amex Membership Rewards with this shift in Rakuten earning rates? The shopping portal's posting times can make it a little confusing to decipher how and when you'll be paid for a purchase. It will depend on Rakuten's estimated posting times, listed below. TLDR: Most items you buy today won't earn points or cash back until at least August 15. (Though there will be a few exceptions for transactions that post in less than 4 weeks.) So if you're planning to switch from Bilt Rewards to Amex MRs, you can expect a purchase made today to likely earn MRs—not Bilt Rewards.
| PURCHASE CATEGORY | POSTING TIME (To switch from pending to confirmed) |
| Online and In-Store Cash Back | 3–14 weeks |
| Dining Cash Back | 3–5 days after dining |
| Travel Cash Back | 6–17 weeks after your trip is complete (Except Expedia purchases, which are confirmed within one week after a trip.) |
Itching To Know The Status of a Particular Purchase?
There is one way to check. From your list of transactions, click on the shopping trip. Rakuten will display its current status, including an estimate of when it will change from “pending” to “confirmed.” YMMV with the accuracy of these predictions, but it's nice to at least have an idea what to expect.
Bilt Rewards Rakuten Payout: ToP Thoughts
The option to earn Bilt Rewards for your shopping trips is still pretty amazing. If you can catch Rakuten's ever-changing flash deals, you can regularly score some highly lucrative offers. (Just this year, we've written about now-expired offers worth 97X and 40,000 points, for example.) It's incredible to then transfer those points to its partners like World of Hyatt, Japan Airlines, Atmos Rewards and more. But if you don't have Bilt's Silver status or higher, it's worth reconsidering where to send your Rakuten earnings. If you wish to continue earning Bilt Rewards from Rakuten at 1 to 1, consider the Bilt Palladium card to earn Gold status through 2027. After May 15, you'll be able to get twice the points by switching to Amex MRs. What's your Rakuten plan? Tell us over in the ToP Facebook Group.
