Rakuten American Express

The Rakuten American Express pairs naturally with the Rakuten shopping portal, earning 4% cash back on Rakuten.com purchases on up to $10,000 in spending per calendar year, a cap that was raised from $7,000 in July. It also earns 5% on Rakuten Dining purchases and 2% at grocery stores and restaurants, all with no annual fee and no foreign transaction fee. The signup bonus was recently cut from $200 to $100 after $1,000 in spending within three months, so the welcome offer is no longer much of a draw. Outside of Rakuten, the 2% categories are respectable but not standout, and everything else earns just 1%. It is a good fit if you already route a lot of online shopping through Rakuten, and a weak one if you don't.