The Rakuten Credit Card offers rewards, cashback, and exclusive perks for frequent shoppers.
If you’re looking for a credit card that maximizes savings, this guide will walk you through the application process, benefits, fees, and essential details.
Features and Benefits
The Rakuten Credit Card offers great rewards, savings, and security. Here’s what makes it a top choice:
Cashback and Rewards
- You earn points on every purchase, which can be redeemed for cashback or discounts.
- Additional bonus points are available for purchases made at Rakuten partner stores.
Exclusive Discounts
- Rakuten Credit Card holders receive special offers at Rakuten-affiliated stores.
- Higher cashback rates are also available for select categories, such as dining and travel.
Low or No Annual Fees
- Some versions of the Rakuten Credit Card come with no annual fees.
- Premium card options require a small fee but offer enhanced rewards and benefits.
Security and Fraud Protection
- The Rakuten Credit Card features EMV chip technology for secure transactions.
- 24/7 fraud monitoring and zero-liability protection help prevent unauthorized charges.
Global Acceptance
- The card is accepted worldwide for travel and online shopping.
- Currency conversion services allow for seamless international transactions.
Flexible Payments
- Cardholders can choose between full payment or installment options.
- Auto-debit and online bill management make payments more convenient.
Mobile App and Digital Wallet Integration
- Users can manage transactions, payments, and rewards through the Rakuten mobile app.
- The card supports contactless payments with Apple Pay and Google Pay.
Interest Rates and Fees
Understanding the costs associated with the Rakuten Credit Card helps you manage expenses and avoid unnecessary fees.
Below is a breakdown of its interest rates and charges:
Annual Percentage Rate (APR)
- Purchases: Typically range from 15% to 25%, depending on creditworthiness.
- Cash Advances: Higher rates, usually 20% to 29%, are applied immediately.
- Balance Transfers: May vary, often between 12% and 20%, with promotional offers available.
Annual Fees
- Standard Cards: Often $0 annual fee.
- Premium Cards: Fees range from $30 to $100, depending on features.
Late Payment Fees
- Charges between $25 and $40, depending on the outstanding balance.
- Higher fees apply after multiple late payments.
Cash Advance Fees
- Typically, 3% to 5% of the cash amount is withdrawn.
- Minimum fee of around $5 to $10 per transaction.
Foreign Transaction Fees
- Depending on the card type, 0% to 3% on international purchases.
Over-Limit Fees
- Some cards charge up to $35 if you exceed the credit limit.
Returned Payment Fees
- A $25 to $40 fee may apply if a payment is declined.
Balance Transfer Fees
- 3% to 5% of the transferred amount, with a minimum fee of around $5 to $10.
Eligibility Requirements
Before applying, ensure you meet the criteria to increase your chances of approval.
- Age Requirement – Depending on local regulations, you must be at least 18 or 21 years old.
- Residency and Citizenship – Some versions of the Rakuten Credit Card may be limited to residents or citizens of specific countries.
- Credit Score – A good to excellent credit score improves approval chances.
- Employment and Income – A stable income source is required to meet repayment obligations.
Preparing for the Application
Gathering the required documents and reviewing financial status ensures a smooth application process.
- Valid Identification – Government-issued ID, passport, or driver’s license is necessary.
- Proof of Income – Recent payslips, tax returns, or bank statements may be required.
- Credit History Check – Review your credit report to spot potential issues.
- Understanding Terms – Familiarize yourself with interest rates, fees, and cashback policies before applying.
Step-by-Step Application Process
Applying for the Rakuten Credit Card is straightforward, whether online or in person.
Online Application
- Visit the official Rakuten website and locate the credit card application page.
- Fill out the required details, including personal and financial information.
- Upload the necessary documents and submit your application.
In-Person Application (If Available)
- Visit a partner bank or retail store offering the Rakuten Credit Card.
- Provide the necessary documents and fill out the application form.
- Submit your application for review.
Verification and Approval
- Rakuten reviews your credit history, income, and financial stability.
- Additional information or documents may be requested.
- Approval time varies, but most applications are processed within a few business days.
What Happens After Approval?
Once your card is approved, follow these steps to start using it:
- Receive Your Card – The physical card will be mailed to your registered address.
- Card Activation – Activate your Rakuten Credit Card via phone, app, or online portal.
- Set Up Online Banking – Register for account access to monitor transactions and payments.
- Understand Your Credit Limit – Know your spending cap to avoid over-limit fees.
Tips for Using Your Rakuten Credit Card Wisely
Maximizing the benefits of your credit card requires smart financial habits.
- Use for Everyday Purchases – Earn cashback and rewards on regular expenses.
- Pay Bills on Time – Avoid late fees and maintain a good credit score.
- Monitor Transactions – Regularly check your statements for any suspicious activity.
- Stay Within Your Limit – Avoid maxing out your credit card to maintain financial health.
What to Do If Your Application Is Denied
A rejection does not mean you can’t reapply. Follow these steps to improve your chances next time.
- Review the Reason for Denial – Check your credit report and application details.
- Improve Your Credit Score – Pay off existing debts and maintain timely payments.
- Increase Your Income – A higher income may improve your eligibility.
- Wait Before Reapplying – Apply again after improving your financial standing.
Customer Support and Contact Information
If you need assistance with your card, customer service is available.
- Phone Support – Call the hotline number on the Rakuten Credit Card website.
- Email Assistance – Send inquiries to the official customer support email.
- Online Help Center – Access FAQs and guides on the Rakuten website.
- Live Chat – Some regions offer real-time chat support for quick assistance.
How to Increase Your Credit Limit
If you need a higher spending limit, here’s how you can request an increase:
- Maintain a Good Payment Record – Pay on time to build creditworthiness.
- Use the Card Regularly – Frequent transactions show responsible usage.
- Provide Proof of Higher Income – Submit updated salary details if your earnings have increased.
- Request a Limit Review – Contact Rakuten’s customer service to inquire about eligibility.
How to Cancel or Close Your Rakuten Credit Card
If you stop using your card, follow these steps to cancel it properly.
- Pay Off Any Outstanding Balance – Clear all dues before requesting cancellation.
- Contact Customer Service – Call or email Rakuten to initiate the closure.
- Submit a Written Request (If Required) – Some banks require a formal request.
- Confirm the Cancellation – Ensure your account is fully closed and no fees are pending.
Contact Information
For assistance with your Rakuten Credit Card, you can reach out through the following contact details:
Customer Service:
- Phone: +81-50-5581-6910
- Email: [email protected]
Headquarters:
- Address: Rakuten Crimson House, 1-14-1 Tamagawa, Setagaya-ku, Tokyo, 158-0094, Japan
The Bottomline
The Rakuten Credit Card offers great rewards, exclusive discounts, and flexible payment options, making it a valuable choice for shoppers.
Understanding its features, fees, and application process ensures you get the most out of your card.
If you’re ready to earn cashback and benefits, visit the official Rakuten website and apply today!
Disclaimer
The information provided in this article is for general informational purposes only and may vary based on location, creditworthiness, and specific card terms.
Please refer to the official Rakuten website or contact customer support for the most accurate and up-to-date details.
