Cash back · American Express · No annual fee
Last verified 2026-09-09. Review issuer source
The Rakuten American Express Card from First Electronic Bank is a no-annual-fee cash back card from First Electronic Bank. Its best everyday rates are 2% on dining, and 2% on grocery stores; everything else earns 1%. There is also 10% on Rakuten Dining, a single-merchant rate.
On our reference budget of $24,600 a year it returns about $342, an effective 1.4% back. The welcome bonus, $200 after $2,000 in 90 days, is the strongest reason to open it in a given year.
Put the bonus categories on it and everything else on a flat 2% card. On its own the base rate drags the average down.
Earn 2% at restaurants
Earn 2% on groceries
Cap: $10,000 per annual
Earn an extra 4% Cash Back on top of what you earn with Rakuten.
Earn an extra 5% Cash Back on top of the 5% Cash Back at Rakuten restaurant partners.
Get a $200 bonus when they spend $2,000 in the first 90 days on your Rakuten Card.
With The Rakuten American Express® Card, you’ll enjoy all that Amex has to offer across music, theater, sports, and more.
Coverage that doubles the original manufacturer's warranty up to 12M.
Coverage on eligible items that are damaged or stolen within 90 days of purchase.
Benefit descriptions are the issuer’s and network’s own wording, trimmed for length. Limits and exclusions are in the guide to benefits.
| Card | Annual fee | Rewards earned | Net after fee | Rank |
|---|---|---|---|---|
| The Rakuten American Express® CardThis card · 2% on dining | None | $342 | +$342 | 521st of 1,291 |
| Bilt Obsidian CardFirst Electronic Bank's most-held other card · 3x on dining | $95 | $438 | +$343 | 518th of 1,291 |
| Savor RewardsThe strongest no-fee card on this budget · 3% on dining | None | $642 | +$642 | 4th of 1,291 |
| Robinhood Gold CardHighest net return on this budget · 3% on everything | $50 | $798 | +$748 | 1st of 1,291 |
Reference budget: groceries $6,000, dining and restaurants $3,600, gas and ev charging $2,400, travel and transit $3,000, online shopping $2,400, entertainment and streaming $1,200, everything else $6,000. Points are valued at 1¢ unless the program is worth less; statement credits, welcome bonuses, and perks are left out. Run it with your own spending.
