This page contains a referral link. If you sign up for Rakuten through it, I earn a bonus and so do you. It costs you nothing extra, and I would recommend Rakuten either way.
Rakuten is a shopping site. Buy through it and the retailer pays a commission, most of which Rakuten hands back to you. Same store, same price, different door.
The part most people miss is that you can take that payout in Amex points instead of cash, and that some sign-up offers on the site carry multipliers high enough to turn a few subscriptions into a business class seat.
Here is exactly how, with the real numbers.
The setup
Three steps, and the order matters.
- Sign up for Rakuten. Referral link here — we both get a bonus.
- Link an eligible Amex card. Membership Rewards earning cards such as Platinum or Gold. Not co-branded cards.
- Switch your payout to Amex Membership Rewards in Account Settings. Do this before your first purchase, not after.
On percentage-based cash back offers, the conversion runs at roughly 1 point per 1 percent of cash back. On the sign-up offers below, Rakuten advertises the rate directly as points per dollar, so a “95X” offer earns about 95 points for every dollar you spend on that sign-up.
Rakuten shows the exact payout at checkout. Always read that number rather than assuming it matches anything written here.
A snapshot of what this looked like
These were the sign-up offers running when I wrote this, with the real price of each rather than just the multiplier, so the trade-off is visible.
| Service | What you pay | Multiplier | Points earned |
|---|---|---|---|
| NordPass Premium | $28.56 (24 mo) | 95X | ~2,713 |
| Coveron Identity Theft Protection | $119.76 (24 mo) | 90X | ~10,778 |
| Norton 360 Premium | $59.99 (1st yr) | 90X | ~5,399 |
| Private Internet Access | $56.94 (26 mo) | 95X | ~5,409 |
| ExpressVPN Pro | $209.72 (28 mo) | 99X | ~20,762 |
| CyberGhost VPN | $56.94 (26 mo) | 95X | ~5,409 |
| Surfshark One+ | $125.72 (28 mo) | 95X | ~11,943 |
| Total | ~$657.63 | ~62,413 |
Add the Rakuten sign-up bonus and that lands around 67,400 points for roughly $658.
These specific offers rotate and expire. The table is a snapshot, not a live list. Check the app for what is actually running before committing to anything.
The number that matters
$658 for 67,400 points works out to 0.98 cents per point acquired.
That is the figure to hold onto, because it is the one you can compare against. Those points redeem on international business class at 3 to 5 cents. So you are buying points at roughly one cent and spending them at three to five, which is a three to five times return on the money.
One honest adjustment: that 0.98 cents assumes you would not have bought any of these services otherwise. If you were already paying for a VPN and a password manager, part of that $658 was going out of your account regardless, and your real cost per point is lower. If you would have bought none of them, 0.98 cents is the true number and you should judge it as a purchase, not a windfall.
What roughly 60,000 points reaches
Business class, one way, at the time of writing:
| Destination | Points | Transfer partner |
|---|---|---|
| Athens | 60,000 | Flying Blue |
| Frankfurt, nonstop on Singapore Airlines | 60,000 | Aeroplan |
| Istanbul | 59,500 | LifeMiles |
| Dubai | 66,300 | LifeMiles |
| Beirut | 66,300 | LifeMiles |
The framing is not “a free flight.” It is that roughly $658 covers the base fare on a seat that runs $3,000 to $4,000 in cash. Taxes and carrier fees still apply on top and vary by route and date, so I have not put a number on them here. But the base fare is the large part, and that is what the points replace.
Which airlines each currency reaches.
Four honest notes before you sign up for anything
These are subscriptions, not one-off purchases. Every one renews at a higher rate after the promotional period. If you do not want a service long-term, put the cancellation date in your calendar the day you buy. Otherwise this cheap flight gets expensive quietly.
You do not need seven VPNs. The point is the trade, not the volume. Pick the services you would actually use and skip the rest. Points earned on something you did not want are not a gain.
Multipliers move constantly. What is 95X today may be 3X next week. Check before you buy, every time.
This is not financial advice. It is how I structure it for myself. Decide what fits your own budget.
Where to go next
More on shopping sites, sign-up bonuses and which cards earn what is on the earning track. If you already have a balance and want to spend it well, start here instead.
Offer table and award pricing accurate as of the publish date at the top. Both change frequently.