Key takeaways
- Rakuten's Big Stack Event runs through October 7 with 10–20% cash back at major retailers including PetSmart, Gap, Nike and Macy's, plus the option to convert earnings into Amex Membership Rewards or Bilt Points.
- New Rakuten users receive a $50 cash-back bonus on their first $50 purchase within 90 days, an increase from the standard $30 referral bonus.
- Stacking Rakuten cash back with credit card rewards and merchant offers from Amex, Chase and Citi multiplies total returns on a single purchase.
- The Rakuten American Express Card earns 14 points per dollar during Big Stack, up from its standard 4%, providing additional value for frequent Rakuten shoppers.
Rakuten’s Big Stack Event, running through October 7, represents one of the year’s largest cash-back opportunities across major retailers. The event combines elevated cash-back rates—typically 10% with some merchants offering 15% or 20%—alongside the option to convert earnings into American Express Membership Rewards points or Bilt Points instead of traditional cash back.
Participating Retailers and Earning Rates
The event spans multiple shopping categories. PetSmart, Macy’s, Gap, Nike, Sam’s Club and Carter’s are among the featured merchants, each offering elevated cash-back rates. While 10% represents the baseline rate, the actual percentage varies by retailer; checking Rakuten’s site before purchase reveals which merchants sit at higher tiers, since rates are not uniform across all participating stores.
Target presents a notable exception. Although it participates in Rakuten year-round, Target is not offering an increased bonus during its concurrent Target Circle Deal Days sale through October 7. Shoppers who still click through Rakuten before purchasing from Target earn 1% cash back rather than the 10% or higher available at other Big Stack partners.
Converting Cash Back to Points
Rakuten allows members to exchange cash-back earnings for loyalty points at a 1:1 rate. Instead of receiving 10% cash back, you can earn 10 American Express Membership Rewards points or Bilt Points per dollar spent. This conversion pathway holds significant value for frequent travelers who can redirect points into premium airline and hotel transfer partners, potentially achieving redemption values well above the cash-back equivalent.
American Express Membership Rewards Transfer Partners
Amex Membership Rewards points transfer to dozens of airline and hotel programs. Converting Rakuten points into frequent flyer programs can yield substantially higher value than 1 cent per point—Amex’s typical cash-back floor—depending on the airline partner and award chart being used. A cardholder targeting premium award redemptions rather than discounted airline gift cards maximizes this conversion strategy.
Bilt Points and Rent Redemption
Bilt Points, earned exclusively on rent payments through the Bilt Mastercard, also represent a points-based alternative to cash back. Members who already hold Bilt points can funnel Rakuten earnings into the same program, consolidating balances and potentially reaching transfer thresholds faster.
How Rakuten Tracking Works
Earning cash back through Rakuten requires starting your shopping session on the Rakuten website rather than navigating directly to a retailer. After logging in and searching for your destination store, you click through to the merchant’s site and complete your purchase as normal. Rakuten tracks the transaction in the background and credits your account within a couple of days.
This click-through mechanism is critical because bypassing the Rakuten portal forfeits the bonus entirely. Many shoppers lose rewards by visiting a retailer directly or through a different referral path, then wondering why their bonus never posted. Verifying that you’ve originated at Rakuten’s site remains essential to earning the intended cash back.
Timeline for Bonus Posting
Once Rakuten records a qualifying purchase, the bonus typically credits to your account within two days. Some transactions take longer depending on the retailer’s reporting timeline, but immediate posting is not guaranteed. Checking your Rakuten account periodically confirms whether the bonus has been recorded and is available for withdrawal or points conversion.
Stacking Rakuten with Credit Cards and Merchant Offers
Rakuten cash back combines with credit card rewards on the same purchase, allowing you to earn both simultaneously. Pairing Rakuten with a card offering bonus categories—such as accelerated points on everyday shopping—multiplies your total return without requiring multiple payment methods.
According to The Points Guy, many Big Stack retailers also participate in merchant offer programs through American Express, Chase, Citi and American Airlines‘ SimplyMiles. These offers function as additional incentives—usually statement credits or point bonuses—that stack on top of both Rakuten cash back and credit card rewards. Checking these platforms before checkout uncovers extra value that most shoppers miss. This layered approach—combining Rakuten cash back, credit card rewards and merchant offers on a single transaction—represents the highest-value redemption path during the event.
The Rakuten American Express Card
Rakuten released its first branded credit card last year: the Rakuten American Express Card, a no-annual-fee product. The card earns 4 points per dollar (or 4% cash back equivalent) at Rakuten partners, 10 points per dollar at Rakuten restaurant partners, 2 points per dollar at groceries and restaurants, and 1 point per dollar on everything else.
Elevated Earning During Big Stack
During the Big Stack Event, cardholders earn 14 points per dollar on top of Rakuten’s cash-back bonus—a significant increase from the card’s standard 4% earning rate. This elevated rate applies through October 7 only, making the event window particularly valuable for American Express Membership Rewards balances. A cardholder earning 14 points per dollar and converting those to premium frequent flyer programs could achieve redemption values substantially higher than 1 cent per point, depending on the airline partner and available award space.
Combining Card and Portal Bonuses
Holding the Rakuten Amex card while shopping through the Rakuten portal layers the card’s earning on top of the portal’s cash-back rate, effectively multiplying rewards. A purchase earning 4% from the card plus 10% from Rakuten yields 14% in combined rewards—and 14% when the Big Stack bonus applies to the card’s earning rate on partner merchants.
New User Incentives
First-time Rakuten users can earn a $50 cash-back bonus on their first $50 purchase at an eligible retailer, valid within the first 90 days of membership. This represents an increase from Rakuten’s standard $30 referral bonus, making the Big Stack Event an optimal entry point for new members. New signups therefore layer the one-time new-member bonus onto the event’s elevated earning rates, potentially turning a first purchase into a significant rewards windfall.
Comparison and Final Strategy
Rakuten is not the highest cash-back option across all retailers and categories, so comparing rates at competing shopping portals before clicking through ensures you capture the best available return. Other platforms and financial institutions sometimes offer higher rates on specific merchants, making a quick comparison worthwhile.
Whether purchasing early for the holiday season or booking travel, verifying Rakuten’s rate against alternatives before checkout protects your rewards. The Big Stack Event’s elevated rates make Rakuten competitive during this window, but the outcome depends on your specific purchase, the retailer involved and which platforms offer rates on that particular merchant.
Source: The Points Guy Articles
Frequently Asked Questions
How do I earn Rakuten cash back during the Big Stack Event?
Start your shopping session on the Rakuten website, search for your desired retailer, click through to their site and make your purchase. Rakuten tracks the transaction and credits your account within a couple of days. You must originate at Rakuten to earn the bonus; shopping directly at a retailer forfeits the cash back.
Can I convert Rakuten cash back into points instead of taking cash?
Yes. Rakuten allows you to exchange cash-back earnings for American Express Membership Rewards points or Bilt Points at a 1:1 rate. Instead of 10% cash back, you could earn 10 Amex Membership Rewards points or Bilt Points per dollar spent, which can be transferred to airline and hotel partners for potentially higher redemption value.
What is the new user bonus during the Big Stack Event?
First-time Rakuten members can earn $50 cash back on their first $50 purchase at an eligible retailer within their first 90 days of membership. This is higher than Rakuten's standard $30 referral bonus and applies only during the Big Stack Event period through October 7.
