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Rakuten, formerly known as Ebates, has started its Black Friday through Cyber Monday sale and it’s time to take advantage of some great deals. These deals typically last for a day, the whole weekend, and some may even appear again on Cyber Monday. One of the deals that caught my attention is the 15x cashback at Saks Fifth Avenue, especially since I have a $50 Saks Fifth Avenue credit from my Amex Platinum.
If you’re not familiar with Rakuten or shopping portals in general, let me explain. Rakuten is a platform that allows you to earn cashback or Amex points when you shop through their links. In fact, Rakuten partnered with American Express and now gives its members the option to earn Amex Membership Rewards instead of cashback. The exchange rate is 1% = 1 Membership Reward. Personally, I find this to be a more attractive option as I value Membership Rewards between 1.5 and 2 cents. With the current promo, you could earn an effective 21% to 28% back in the form of points.
There are some great promos available at various stores through Rakuten. For example, Bloomingdales and Nordstrom offer 12x cashback, while Saks Fifth Avenue offers a whopping 15x cashback. This is especially interesting for those who have the Amex Platinum, as it comes with a $100 yearly statement credit split into two semi-annual $50 credits. Anecdotally, this credit has been triggered by in-store gift card purchases, which I confirmed in July. Now, I can use those gift cards during this sale and earn 15x cashback, the highest rate we see throughout the year.
Another deal worth looking at is AARP. By signing up for 5 years, you can get a membership for $9 a year, or $45 in total. Additionally, you’ll get $25 cashback, making the total cost just $20. If you use my $40 code, you’ll get another $40 back, essentially getting paid $20 to join. Moreover, if you have AT&T as your mobile service provider, you can get up to $10 back per month. I’ve been a member of AARP for almost 10 years and have found it to be a great source of savings.
Now, you may be wondering how quickly the points populate your account. Rakuten sends the points over to your Amex account once a quarter, on February 15th, May 15th, and so on. Sometimes, the points populate the same day, but it can also take 3 or 4 days in my experience.
Overall, this is a fantastic time to utilize the Rakuten portal and take advantage of the Black Friday through Cyber Monday sale. With the ability to earn cashback or Amex points, you can save a significant amount of money on your holiday shopping. Just remember to use our links to ensure that we receive a commission. Happy shopping!