Online shopping platforms can be an excellent way to accumulate bonus points for purchases you would make anyway. By simply clicking on a specific link, you can earn bonus points or cash back, in addition to the rewards earned from credit card usage.
Rakuten is my top choice for online shopping portals since you can earn Amex Membership Rewards points or Bilt Rewards points at an appealing rate. Currently, Rakuten is extending its highest-ever bonus for new members, accessible exclusively through referrals by selected members.
Initially scheduled to end on June 30, 2026, this offer has now been extended for an additional three months, making it valid until September 30, 2026. This presents a fantastic opportunity, so if you aren’t already a Rakuten member, signing up is an obvious choice, even if you typically do not use online shopping portals. Essentially, it’s a way to receive $50 (or more) worth of items for free.
Sign-up for Rakuten with the $50 refer-a-friend bonus
Until September 30, 2026, Rakuten is providing a generous enhanced refer-a-friend bonus. Specifically, if you refer a friend to Rakuten and they spend $50, both the referrer and the referee will receive $50.
It is my understanding that this referral offer is exclusively available to select existing Rakuten members, so please ensure you verify your link before using it. This truly represents a best-ever bonus, as we have previously seen bonuses only up to $40 — even though this offer has lingered for quite some time.
This is an outstanding deal:
– Rakuten is distributing a total of $100 for a $50 purchase
– For the referred person, it essentially translates to a $50 credit on a $50 purchase — that’s like $50 of “free” spending!
– There are straightforward ways to unlock the $50 bonus, such as simply purchasing a $50 gift card (this is very simple — you can acquire a $50 gift card from various retailers and receive $50 in cash); there are also usually fantastic chances to earn nearly 100% back or 100x points with specific retailers, which is a rate worth buying points all day long, even without considering the service being sold
– You can then refer friends and family, unlocking an unlimited number of referral bonuses (OMAAT readers are encouraged to share their referral links in the comments section below, but ensure it’s for the $50 offer)
– Over time, you can potentially extract even more value from Rakuten, as rewards can be converted into Amex or Bilt points
Transform Rakuten cash back into Amex or Bilt points
The reason I favor Rakuten as a shopping portal is that Rakuten rewards can be converted into Amex Membership Rewards points or Bilt Rewards points. The specific method of this conversion depends on the currency you opt to earn.
With the Rakuten and Amex Membership Rewards collaboration, you can reliably earn one point in place of one cent, provided you have an Amex card that collects Membership Rewards points. Thus, if a retailer provides 10% cash back, you can instead gain 10x Amex points.
I personally appraise Amex Membership Rewards points at 1.7 cents each, due to the numerous ways to utilize the points for first and business class international travel, yielding substantial value. For me, this boosts the value of the rewards by 70%.
This requires merely adjusting one setting in your account, making it incredibly straightforward. It’s important to note that this points earning option does not apply to the welcome bonus but does pertain to all spending beyond that.
That isn’t the only opportunity available. The Rakuten and Bilt Rewards partnership enables members to earn Bilt Rewards points instead of cash back. Bilt elite members can accumulate one point for every one cent, while non-elite members can earn one point for every two cents.
What is exciting here is that your cash back can be retrospectively converted into Bilt points throughout the entire Rakuten “payout” period (approximately quarterly), meaning even the refer-a-friend bonus can be converted into points.
If you have to choose between one Amex point or one Bilt point, many may prefer the latter due to the value of the rewards and the difficulty in earning them. However, if the ratio isn’t one point per cent, I would opt for the Amex partnership instead.
Bottom line
Rakuten is my preferred online shopping portal, and it is currently providing its highest-ever new member bonus. Until September 30, 2026, selected members can access a $50 referral bonus for both the referrer and the referee.