| Update: Rakuten has changed their T&Cs such that only members in the USA and Canada can participate in the referral program. Be advised, they seem to be clawing back referrals from before the T&Cs changed. |
Rakuten is an online cashback portal, similar to ShopBack or RebateMango. Although the site is US-based, Singapore residents can still use it, and cash out their cashback through PayPal.
From now till 31 December 2020, Rakuten is giving all new members US$30 when they sign up through the referral program and spend at least US$30 at any merchant within 90 days of signing up.
Sign up for Rakuten and get US$30 here
That’s a very generous referral bonus (Shopback gives just S$5), and with so many online merchants to choose from, there’s bound to be a way to meet that US$30 minimum spend. For example, you could buy things on iHerb, which offers free shipping to Singapore for orders over US$60. Alternatively, you could buy books on Book Depository and enjoy free shipping with any purchase.
| ⚠️ Don’t buy from the same computer! |
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During the previous Rakuten promotion, a few people made purchases and received the US$30 cashback initially, only for it to be clawed back a few days later. When they emailed customer service, they were told that their account had been flagged for fraud. I’ve spoken to a few of them personally, and they all seem like genuine cases (i.e not someone who created multiple accounts just to game the system). From what I gather, the problem may have been that their family members also created accounts and made purchases from the same IP address, which could have set off the fraud trigger. So If you want to share this deal with your family, I recommend you ask them to purchase via separate devices (e.g. mobile phones). |
If you want to book staycations, there’s a ton of hotel chains and OTAs on Rakuten, like Agoda, Booking.com, Hilton, Hotels.com, Millennium Hotels & Resorts and more. Do note, however, that if you book hotels your cash back will only be available after your stay is completed.
Once your cashback has tracked, you’ll be able to withdraw the money via PayPal. You can subsequently transfer it into your Singapore bank account, or use it for online shopping wherever PayPal is accepted.
Rakuten payouts are done every quarter, so you may need to wait till the next payment cycle to get your cashback.
What card should I use?
Most of your purchases on Rakuten will be processed online in USD, so consider using the following credit cards for the most miles.
| Earn Rate | Remarks | |
 Citi RewardsApply here |
4 mpd | Cap of S$1K per s. month |
 DBS Woman’s World CardApply here |
4 mpd | Cap at S$2K per c. month |
 UOB Visa SignatureApply here |
4 mpd | Min FCY spend of S$1K per s. month, cap at S$2K per s. month |
 OCBC Titanium RewardsApply here |
4 mpd | Cap at S$12K per m. year, for certain MCCs only |
 SCB Visa Infinite |
3 mpd | Min spend S$2K per s. month |
| S. Month= Statement Month | C. Month= Calendar Month | M. Year= Membership Year | ||
Conclusion
A US$30 joining bonus is the highest I know of for any cashback portal, and if you’re planning to buy books or products on iHerb, or make a hotel booking, it’s a way to secure some bonus cash.
Remember to make your minimum spend of US$30 within 90 days of signing up.
I got this promo. Awesome stuff. Thanks.