The Rakuten Credit Card offers cashback rewards and discounts, making it ideal for frequent shoppers.
Applying is straightforward, and this guide will help you complete the process smoothly.
Eligibility Requirements
Applicants must meet specific eligibility requirements to qualify for the card. Here’s a quick look at the essential criteria needed.
- Minimum Age: Applicants must be at least 18 years old.
- Residency: Must reside in the country where the Rakuten Credit Card is offered.
- Income Proof: Steady income or employment proof may be required.
- Credit Score: A fair to good credit history is generally expected.
- Valid Identification: A government-issued ID, such as a passport or national ID, is necessary.
Types of Rakuten Credit Cards
Rakuten offers several credit card options to cater to different needs. Here's a quick overview:
- Rakuten Card: A no-annual-fee card with standard rewards.
- Rakuten PINK Card: Tailored for women, featuring customizable designs and exclusive benefits.
- Rakuten Gold Card: Offers higher credit limits and additional perks, including airport lounge access.
- Rakuten Premium Card: Provides premium benefits like free Priority Pass membership for global lounge access.
- Rakuten Bank Card: Combines credit card functions with Rakuten Bank cash card features.
- Rakuten ANA Mileage Club Card: Ideal for frequent ANA flyers, allowing the accumulation of both Rakuten points and ANA miles.
- Rakuten Card Academy: Designed for students, offering benefits like higher point returns on Rakuten Books and Travel.
- Alpen Group Rakuten Card: Targets sports enthusiasts, enabling the accumulation of both Rakuten and Alpen points.
Fees and Interest Rates
Understanding the interest rates and fees associated with the card is crucial for effective financial management. Here's a breakdown:
- Annual Percentage Rate (APR):
- Purchases: Variable APR ranging from 19.99% to 24.99%, depending on creditworthiness.
- Cash Advances: Typically higher APR; exact rate specified in your card agreement.
- Annual Fee:
- Rakuten Card: No annual fee.
- Rakuten Gold Card: ¥2,200 per year.
- Rakuten Premium Card: ¥11,000 per year.
- Foreign Transaction Fee:
- 3% of each transaction made in a foreign currency.
- Late Payment Fee:
- Up to ¥2,500, depending on the outstanding balance.
- Balance Transfer Fee:
- Not applicable, as balance transfer options are typically unavailable.
- Cash Advance Fee:
- 3% of the amount advanced, with a minimum fee of ¥300.
- Over-the-Limit Fee:
- No over-the-limit fees, as transactions exceeding the credit limit are usually declined.
- Returned Payment Fee:
- Up to ¥2,500 for each returned payment.
Necessary Documents for Application
Applying for the card requires specific documentation to verify your identity and financial status. Here's what you'll need:
- Proof of Identity: Valid government-issued ID, such as a passport or national ID card.
- Proof of Address: Recent utility bill or official document showing your current address.
- Proof of Income: Recent payslips, tax returns, or bank statements indicating your income.
- Bank Account Information: Details of your Japanese bank account for payment setup.
- Contact Information: An active phone number and email address are used for communication.
Online Application Process
Applying for the Rakuten Credit Card online is a straightforward process. Follow these steps:
- Access the Application Page: Visit the official Rakuten Credit Card website.
- Select Your Card: Choose the card type and design that suits your preferences.
- Enter Personal Information: Provide your name, date of birth, gender, and contact details.
- Provide Address Details: Input your current residential address.
- Employment and Income Details: Specify your employment status and annual income.
- Bank Account Information: Enter your Japanese bank account details to set up payment.
- Review and Submit: Check all entered information for accuracy and submit your application.
- Confirmation Call: Expect a confirmation call from Rakuten within 2-3 business days to verify your details.
- Receive Your Card: Upon approval, your Rakuten Credit Card will be mailed to your registered address.
In-Person Application Option
Applying for the Rakuten Credit Card in person is a viable option for those who prefer a more personal touch.
This method allows for direct assistance and clarification during the application process. Here’s how to proceed:
- Locate a Rakuten Service Center: Find the nearest Rakuten service center or authorized retailer that processes credit card applications.
- Gather Necessary Documents: Bring all required documents, including proof of identity, proof of address, and proof of income.
- Visit the Service Center: Go to the chosen location during business hours.
- Meet with a Representative: Speak with a customer service representative who will assist you with the application process.
- Complete the Application Form: Fill out the application form with the representative's help, ensuring all information is accurate.
- Submit Your Documents: Provide the necessary documents for verification.
- Receive Confirmation: Obtain confirmation of your application submission and any next steps, including how long to expect a response.
- Follow-up: If you don’t hear back within the scheduled time frame, follow up with the service center for updates on your application status.
Application Review and Approval Time
Once your Rakuten Credit Card application is submitted, it undergoes a review process. Here’s a quick overview of the review and approval timeline:
- Initial Review: The application is checked to ensure all documents and details are complete.
- Credit Check: Rakuten assesses your credit score and history.
- Verification Process: Identity and income verifications are done, but extra documents are possibly needed.
- Approval Timeline: The review generally takes a few days to two weeks, depending on application volume.
- Notification of Decision: You’ll be informed by email or phone about your application status.
- Approval or Denial: Approved applicants receive the card by mail; if denied, reasons may be provided.
- Follow-Up Options: If you haven’t received a response, contact customer service for an update.
Factors that Could Affect the Approval Speed
Several factors can influence how quickly your Rakuten Credit Card application is approved. Knowing these factors can help set realistic expectations:
- Completeness of Application: Missing information or documents can delay processing.
- Credit History Check: A detailed credit history review may take additional time.
- Verification Requirements: Extra verification steps for income or identity may slow approval.
- Application Volume: Higher application volumes can extend processing times.
- Public Holidays or Weekends: Applications submitted near holidays or weekends may experience delays.
- Previous Credit Issues: Past credit issues might require further assessment, potentially slowing approval.
Frequently Asked Questions (FAQs)
Here are answers to common questions about the Rakuten Credit Card. These FAQs cover the essentials to help with your application and card management.
What credit score is required to apply?
- A fair to good credit score is recommended, but specific requirements may vary.
How long does it take to receive the card after approval?
- Once approved, you’ll typically receive the card by mail within 1-2 weeks.
Can I use the Rakuten Credit Card abroad?
- Yes, the card can be used internationally; a 3% foreign transaction fee applies to purchases in foreign currencies.
Is there a cashback program with the Rakuten Credit Card?
- The card offers cashback points on Rakuten platform purchases and selected partner stores.
Are there any rewards for using the card?
- Yes, you earn Rakuten Super Points for every purchase, which can be redeemed for discounts and rewards on the Rakuten platform.
Can I manage my Rakuten Credit Card account online?
- Rakuten provides an online portal and mobile app for easy account management and payment tracking.
How can I increase my credit limit?
- You can request a limit increase through customer service or the online portal, typically after six months of consistent payments.
Final Thoughts on the Rakuten Credit Card
The Rakuten Credit Card provides valuable rewards and convenience, making it an excellent choice for frequent Rakuten shoppers.
With easy application options and straightforward benefits, it’s designed to suit various needs.
Apply today to start enjoying cashback and exclusive perks.
Disclaimer
The information provided here is for general guidance on the Rakuten Credit Card and may vary based on individual circumstances.
Refer to Rakuten’s official terms and conditions for the most accurate and updated details.
