Rakuten Offering Up to $1,025 in Combined Bank of America Premium Rewards Bonuses
Rakuten is offering up to $425 for opening a Bank of America Premium Rewards card. Combined with 60,000 points, that's up to $1,025. Your Rakuten payout settings could make a big difference.
A generous Rakuten promotion makes the Bank of America Premium Rewards credit card particularly attractive, but your Rakuten account settings could determine whether you see the offer at all.
Rakuten is offering up to $425 in cash back for opening a Bank of America® Premium Rewards® credit card through its shopping portal. Combined with the card's standard 60,000-point welcome bonus, the total potential reward reaches $1,025 before the $95 annual fee.
There is one important catch: not everyone sees the same Rakuten offer.
Doctor of Credit originally reported $425, while other users reported $400. As of October 8, 2026, Rakuten's publicly displayed offer is $375.
Even at $375, this is an excellent opportunity.
Current Welcome Offer
| Benefit | Value |
|---|---|
| Bank of America Welcome Bonus | 60,000 points ($600) |
| Rakuten Cash Back | $375–$425 |
| Combined Bonus | $975–$1,025 |
| Annual Fee | $95 |
| Net First-Year Bonus Value | $880–$930 |
The Bank of America bonus requires $4,000 in purchases within the first 90 days of opening the account.
The Rakuten bonus is separate from the bank's offer and requires applying through Rakuten.
Check Your Rakuten Offer and Apply Here
Offer amounts can vary and change without notice. Verify your personal offer before applying.
Your Rakuten Payout Preference Matters
Here is where things get interesting for travel hackers.
Rakuten allows members to receive their rewards as cash, American Express Membership Rewards points, or Bilt Rewards points. However, your selection can affect eligibility for certain promotions.
Rakuten Cash Back
Members receiving payment through PayPal or check can access eligible Bank of America credit card promotions.
This is the simplest option. A $425 Rakuten bonus is worth exactly $425 in cash.
American Express Membership Rewards
Members who have configured Rakuten to receive American Express Membership Rewards points generally will not see these Bank of America card offers.
This isn't a website glitch. Rakuten's official terms specifically exclude certain non-American Express credit card promotions when Membership Rewards is selected.
Switching to cash back may make the offer visible, but you should confirm eligibility before applying. Don't assume that switching payout methods later will preserve the promotional bonus.
Bilt Rewards Points
Here is the potentially more lucrative alternative.
Rakuten members receiving Bilt Rewards points have reported seeing these Bank of America offers, including the higher $425 bonus.
Bilt converts Rakuten cash-back earnings to points based on the member's Bilt status.
| Bilt Status | $375 Bonus | $425 Bonus |
|---|---|---|
| Blue | 18,750 points | 21,250 points |
| Silver | 37,500 points | 42,500 points |
| Gold | 37,500 points | 42,500 points |
| Platinum | 37,500 points | 42,500 points |
These figures assume the promotion is eligible for Bilt conversion and the standard conversion rates apply at payout.
The appeal is substantial. Bilt points can transfer to valuable travel partners, including Alaska Airlines Atmos Rewards and World of Hyatt.
For travelers who know how to maximize airline and hotel redemptions, 42,500 Bilt points could potentially be considerably more valuable than $425 in cash.
Remember that the $375–$425 Rakuten promotion amount is not necessarily determined by your payout selection. Timing and account-specific promotions may also explain the differences.
Bank of America Premium Rewards Benefits
The card itself provides a respectable collection of benefits:
| Benefit | Details |
|---|---|
| Travel and Dining | 2X points |
| Other Purchases | 1.5X points |
| Airline Incidental Credit | Up to $100 annually |
| Global Entry / TSA PreCheck | Up to $100 every four years |
| Foreign Transaction Fees | None |
| Annual Fee | $95 |
The $100 annual airline incidental credit can more than offset the annual fee for travelers who use it on qualifying purchases.
Bank of America relationship rewards can also increase the card's ongoing earning potential for eligible customers.
Unlike transferable travel currencies, standard Bank of America Premium Rewards points do not transfer directly to airline or hotel loyalty programs. The 60,000-point welcome bonus is worth $600 through eligible cash redemption options.
How to Get Both Bonuses
- Log into Rakuten. Check your payment preference under Account Settings.
- Find the Bank of America offer. Visit the Rakuten Premium Rewards promotion.
- Confirm the bonus amount. Look for $375, $400, or potentially $425. Save a screenshot of the offer and its terms.
- Apply through Rakuten. Follow the portal link rather than applying directly at Bank of America.
- Complete the spending requirement. Spend $4,000 within the first 90 days to earn the bank's 60,000-point bonus.
- Keep the account open. Rakuten requires the new card account to remain open for at least three months after approval.
Rakuten states that its bonus can take several months to appear. Points or cash back are then distributed according to the applicable payout schedule.
Trash Panda Take
This is an unusually attractive combination of bank and shopping portal rewards.
Even at the publicly available $375 Rakuten rate, the combined bonus delivers $880 in net first-year value after accounting for the annual fee.
However, the opportunity to convert the Rakuten portion into Bilt points is what particularly interests me.
A traveler earning 37,500 or potentially 42,500 Bilt points could use those points toward premium airline awards or high-value hotel redemptions.
That's potentially a much better return than simply collecting the cash.
The Bank of America card itself is solid, although I wouldn't necessarily consider it a long-term keeper unless its annual credits and ongoing benefits justified the $95 fee.
Bottom Line: The combination of a 60,000-point Bank of America bonus and up to $425 through Rakuten is worth serious consideration. Just make sure your Rakuten payout preferences and personal promotional offer are correct before applying.
View the Current Rakuten / Bank of America Offer
Offer information current as of October 8, 2026. All bonuses are subject to eligibility, credit approval, and applicable terms. Rakuten offers and payout options may change.
