American Express and Rakuten Group in Japan are running a campaign from August 1 through January 31, 2026, offering a 5% bonus when converting Amex Membership Rewards points into Rakuten Points.
The usual conversion rate is 900 Rakuten Points for every 3,000 Membership Rewards points, or 1,400 Rakuten Points for members enrolled in Membership Rewards Plus. During the campaign, an additional 5% of the converted Rakuten Points will be awarded as limited-time points.
Registration is required to participate. The exchange windows are: Round 1 from August 1 to October 31, and Round 2 from November 1 to January 31, 2026. The bonus portion will be credited around November 20 for Round 1 and around February 20, 2026 for Round 2.
