topic Re: Rakuten Pre-Approval in Credit Card Applications

Rakuten Pre-Approval

Citylights18 — Fri, 07 Feb 2020 15:52:31 GMT

Recieved a pre-approval email for a Rakuten store card via email good until 3/18/2020.

It comes with a $30 dollar bonus which can be translated into 3,000 MR points.

Unfortunately at 4/24 I don't think its worth going to jail with Chase until 5/21 for since I am still targeting some of their cards.

Re: Rakuten Pre-Approval

FinStar — Fri, 07 Feb 2020 16:18:05 GMT

Agree. If you are reserving the slot for Chase due to 5/24, I'd hold off.

Re: Rakuten Pre-Approval

Anonymous — Fri, 07 Feb 2020 16:24:10 GMT

Yeah, not worth it. Congrats on your offer though!

Re: Rakuten Pre-Approval

AllZero — Fri, 07 Feb 2020 19:56:48 GMT

Congratulations on your offer!

Re: Rakuten Pre-Approval

Citylights18 — Tue, 11 Feb 2020 23:51:53 GMT

It sounds like the party is now over. Rakuten is no longer giving 3x points when buying gift cards.

https://milestomemories.boardingarea.com/rakuten-cash-back-visa-gift-card-purchases/

If it was permitted, one could say buy a Delta gift card on Raise through Rakuten for 4x on the gift card plus 8% discount on the Delta gift card discount through Raise. Then you go use the card on Delta, pay for the remaining balance on a Delta Gold for 7x Delta earn points for the overall purchase. This was better than what you could do buying the giftcard with a 1.5x or 2x everyday spending card which is the entire point of getting a Rakuten card.

When are you better triple dipping with a gift card than not? Assuming the rewards points are worth 2 and airline 1 (and that you have the Delta Gold card).

AA portal/Citi DC/Raise 8% discount/Delta Airlines (1x, 4x, 8x, 7x) = 20x

Citi Prestige/Delta Airlines (10x, 7x) = 17x

Rakuten MR portal/Expedia/Delta Airlines (6x, 7x) = 13x

From the above example you can get comparable value with out a high AF card like the Prestige or Platnium by triple dipping with the gift card.

Re: Rakuten Pre-Approval

Anonymous — Wed, 12 Feb 2020 03:43:58 GMT

I got the same email, and am starting wonder if all these recent "pre-approvals" have to do my recent score increase from 750's to 780.