Update 8/16/22: Looks like cardholders can get a $100 bonus when they spend $1,000+ on the new Synchrony card. Not sure if this is for all cardholders or only selected cardholders.
Update 7/28/22: Official confirmation and the official F.A.Q can be found here (previously linked F.A.Q was incorrect according to Rakuten).
Synchrony and Rakuten have made the mutual decision to end the Rakuten Cash Back Visa Credit Card program on September 17, 2022. We are proud of the value we created for Rakuten and our cardholders during the last nine years since we started the program together. Eligible cardholders will be offered the Synchrony Mastercard that can be used anywhere Mastercard is accepted.
Another update 7/27/22: You can read the full FAQ here.
Update 7/27/22: Based on conversations reader TheFiGuy had with two support reps:
- September 17, 2022 will be last date for cardholder charges.
- Accounts will be closed shortly thereafter, and the credit program will been fully discontinued.
- Cardholder will be fully closed out, and will not being transferred to another financial institution.
Original Post:
The Rakuten/Ebates Visa card is no longer accepting application. When clicking the Apply Now link, it brings to this page which states: “Thank you for your interest. We are no longer accepting applications for the Rakuten Cash Back Visa® Credit Card.”
Sounds like this is a permanent thing, but we’ll have to wait find out more. Hopefully existing users continue to be serviced. Developing…
A lot of people find the card useful since it earns 3% back on purchases made through the Rakuten portal and in-store cashback. Those points can be earned as Membership Rewards, via the Rakuten-Amex partnership, making them even more valuable to a lot of people.
Hat tip to r/amex
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