As of Thursday, American consumers have the opportunity to double their rewards when shopping at thousands of retail outlets, thanks to a new collaboration.

Rakuten, a prominent cashback provider, has joined forces with the Bilt rewards program just in time for the holiday shopping frenzy, offering U.S. shoppers an additional avenue for collecting points on their purchases.

Launched in 2021, Bilt gained attention by allowing renters to accumulate points through rent payments made via credit card without incurring extra fees. The program now encompasses over five million residences and is integrated into one in four apartment complexes throughout the United States, recently broadening its scope to include rewards for homebuyers as well.

Through this latest partnership, members of Bilt can now earn reward points when shopping via Rakuten at more than 3,500 different retailers. These points are versatile, convertible into air miles, or applicable towards rent payments or student loan repayments.

“Whether you’re decorating your apartment, tackling your holiday shopping, or managing your weekly errands, you’re earning points that could fund a trip to Tokyo, help with next month’s rent, or provide access to exclusive experiences,” explained Ankur Jain, the founder and CEO of Bilt.

‘This is a slam dunk,’ Brian Kelly, founder of The Points Guy, told the Daily Mail.  ‘It’s literally a whole bunch of free points in the world’s most valuable rewards currency.’

For shoppers using a rewards credit card, there’s an added bonus. They can “double dip” — earning both Bilt points and their usual credit-card points on the same purchase. 

Cash-back company Rakuten has partnered with rewards program Bilt

When shoppers click through the Bilt portal to Rakuten and buy from stores like Nike or Bergdorf Goodman, they earn Bilt rewards alongside their standard card perks. 

These are on top of their usual credit card points. 

‘You could use a Citi American Airlines credit card, or an American Express Platinum card, and earn those points too,’ Kelly added. ‘That is why it is called double dipping, and this is what consumers need to know.’

Rakuten pays shoppers a percentage of what they spend when they buy through its website or app. It partners with more than 3,500 major retailers — including Adidas, Macy’s and Best Buy — and passes part of its commission back to consumers as cash back. 

But the new tie-up goes a step further. Instead of taking that cash, shoppers can convert it into Bilt points — which can often be worth more. 

Unlike cash back, which gives a fixed dollar amount, reward points can stretch further when used strategically. 

For example, $100 in cash back might convert into around $125 or more in value when redeemed for flights or hotel stays through Bilt’s partners such as Hyatt, United or Japan Airlines — or even up to $150 if used toward a home down payment through the program.

Jain told the Daily Mail that Bilt has been wanting to move into the online shopping space for a while. 

‘This is a slam dunk,’ said Brian Kelly, founder of The Points Guy

Bilt founder and CEO Ankur Jain and Rakuten CEO Amit Patel have teamed up to help consumers maximize rewards

‘Bilt is giving people options to get rewarded with flights and hotels, paying off student loans and rent payments, and even a down payment on a home. But the one area that we have not been able to reward people on to date has been on online shopping.

‘Meanwhile Rakuten has built the largest and richest rewards for online shopping with tons of customers.’

It was important, he said, to help people start earning rewards with large multipliers, including 5x points, 10x points and 20x points on big holiday shopping purchases. 

‘Bilt and Rakuten share the belief that rewards should provide tangible ways for people to reach their goals,’ said Amit Patel, CEO of Rakuten Rewards. 

‘This collaboration brings together two of the most innovative rewards programs to expand what it means to be rewarded. It’s a win-win for smart shoppers everywhere.’

This is especially important for shoppers right now, Wendy Bergh, chief marketing officer at Rakuten, told the Daily Mail.

‘Consumers are stretched thin with inflation and tariffs, so this is really giving them a way to be smarter and more financially savvy.’

For example, from November 10, Adidas will be at over 20 percent cash back when shopping through Rakuten. 

Bilt members can now earn cash back through Rakuten at over 3,500 retailers which can be redeemed for Bilt points

The partnership allows consumers to earn rewards on their holiday shopping

Online shopping is one of the areas where people make the most mistakes when it comes to earning rewards for their spending, said Kelly.

‘My one message is never, ever, go directly to a retailer’s website. There are these online cash back shopping portals where they give you free money and it takes you to the same exact site.’

This partnership between Rakuten and Bilt is ‘groundbreaking’, he said. 

The Points Guy does monthly valuations of all the different currencies for credit cards, airlines, and hotels, and Bilt is the most valuable currency in the loyalty points ecosystem, Kelly said. 

If you earn, for example, $100 in cash back on Rakuten, by transferring that to Bilt you can get way more in value. 

‘That $100 in cash back would be $125 if you redeem for flights or hotels,’ he said.

‘Or you could get even more because Bilt allows you to transfer to partners like Hyatt, United, or Japan Airlines.’ 

The only downside, Kelly said, would be for those who prefer to simply get cash back. 

‘If you’re not going to travel, you don’t want to transfer your points, then it could make sense to just do cash back with Rakuten,’ he added.