Rakuten, the cash-back shopping portal, has periodically offered elevated bonuses for credit card applications initiated through its platform. A current offer provides $100 cash back for applying and being approved for the Chase Ink Business Unlimited card through Rakuten. For frequent flyers who use shopping portals to earn additional rewards on purchases and who evaluate credit card applications through the lens of award travel, the Rakuten bonus adds a variable to the application decision. But the $100 cash back must be weighed against alternative application channels, the opportunity cost of using a 5/24 slot, and the long-term value of the Ink Business Unlimited’s earning structure. This article provides a decision framework for evaluating the Rakuten Chase Ink offer within a broader points-and-miles strategy.
Rakuten earns revenue through affiliate commissions when users click through its portal to make purchases or apply for products, and it shares a portion of that commission with the user in the form of cash back. Credit card application bonuses work on the same model: Rakuten receives a commission from the card issuer when a user applies through the Rakuten link and is approved, and Rakuten passes a portion of that commission to the user as cash back or, for users who opt into Amex Membership Rewards earning, as Membership Rewards points.
The $100 Chase Ink Business Unlimited offer is paid as cash back to the user’s Rakuten account, typically after the card application is approved and the card account is opened. The cash back follows Rakuten’s standard payout schedule, which issues payments quarterly via check or PayPal. There is typically a delay of several weeks to a few months between card approval and the cash back posting to the Rakuten account, depending on how quickly the issuer reports the approval to Rakuten’s affiliate network.
The Rakuten bonus is separate from and in addition to the Chase Ink Business Unlimited welcome bonus. The card itself offers a welcome bonus of Ultimate Rewards points after meeting a minimum spending requirement, typically 75,000 points or more depending on the current public offer. The Rakuten $100 does not affect the card’s welcome bonus; it is an additional layer of value that the applicant receives purely for using the Rakuten application link rather than applying directly through Chase.
The Chase Ink Business Unlimited is a no-annual-fee business card that earns 1.5 percent cash back, or 1.5 Ultimate Rewards points per dollar on all purchases when paired with a premium Chase card such as the Sapphire Reserve, Sapphire Preferred, or Ink Business Preferred. For a frequent flyer who holds a Sapphire Reserve, the Ink Business Unlimited’s 1.5x earning on all non-bonus spending effectively becomes 2.25 percent toward travel when points are transferred to partners or redeemed through the Chase Travel portal at the Reserve’s 1.5 cent-per-point rate.
The 1.5x everywhere earning rate makes the Ink Business Unlimited a strong catch-all card for business spending that does not fall into bonus categories on other cards. Business expenses such as wholesale purchases, professional services, utilities, and shipping that earn only 1x on most premium cards earn 1.5x on the Ink Business Unlimited, and those extra half-points per dollar add up meaningfully over a year of business spending.
The card also does not count toward the Chase 5/24 rule in the same way as consumer cards, because business cards from most issuers do not appear on personal credit reports after the initial inquiry. For a frequent flyer managing a 5/24 strategy, opening a business card that does not consume a 5/24 slot is valuable. However, Chase does count its own business cards when evaluating new applications, and applicants with multiple recent Chase business card approvals may face additional scrutiny or denial under Chase’s internal application rules.
Rakuten allows users to choose between earning cash back and earning Amex Membership Rewards points on eligible purchases and bonuses. The $100 bonus for the Chase Ink Business Unlimited application is available in both cash back and Membership Rewards forms, but the actual earning structure depends on the user’s Rakuten account settings. Users who have selected Membership Rewards as their earning preference will receive the bonus as Membership Rewards points rather than cash, at a rate that can vary from the cash-back-to-points conversion used for regular shopping.
For a frequent flyer who values Membership Rewards points at 1.5 cents or more per point for transfer partner redemptions, receiving the bonus as Membership Rewards points can be more valuable than receiving $100 in cash. If Rakuten converts the $100 at 1 cent per point, the result is 10,000 Membership Rewards points, which at a valuation of 1.5 cents per point is worth $150 in travel value. The cash option offers certainty and flexibility, but the points option offers potentially higher value for travelers who consistently extract above-average value from Membership Rewards transfers.
The choice between cash and points depends on the individual’s redemption patterns. A traveler who regularly transfers Membership Rewards to ANA Mileage Club for roundtrip business class awards to Japan may value each point at 3 cents or more, making the points option dramatically more valuable than cash. A traveler who primarily uses Membership Rewards for domestic economy awards through British Airways Avios may value points closer to 1.2 cents, making the cash option simpler and effectively equivalent. The decision should be based on the traveler’s actual redemption history, not aspirational point valuations.
Chase’s 5/24 rule limits new card approvals for applicants who have opened five or more new credit card accounts from any issuer in the preceding 24 months. Business cards from most issuers do not appear on the personal credit report as new accounts, so they do not count toward the 5/24 count, but Chase does consider its own business cards in the approval decision, and having too many recent Chase accounts can lead to denial even if the applicant is under 5/24.
The Rakuten $100 bonus adds $100 of value to the Ink Business Unlimited application, but the value of the card’s welcome bonus, typically 75,000 to 90,000 Ultimate Rewards points, dwarfs the Rakuten bonus. The primary consideration should be whether the Ink Business Unlimited is the right card for the applicant’s strategy, not whether the Rakuten bonus tips a borderline decision. A $100 bonus should not cause a traveler to burn a Chase application slot on a card that does not fit their spending pattern or award goals.
If the Ink Business Unlimited is already the card the traveler intends to apply for, the Rakuten bonus is a pure value-add with no downside aside from the slightly longer application flow through the Rakuten portal instead of directly through Chase. There is no reason not to use the Rakuten link in this scenario, and the $100 or 10,000 Membership Rewards points are effectively free.
Rakuten is not the only platform offering bonuses for credit card applications. Other cash-back portals, airline shopping portals, and referral links may offer different incentives for the same card. The Ink Business Unlimited may be available through other portals at different bonus amounts, and a traveler should compare the current bonuses across relevant platforms before applying.
Referral links from existing cardholders typically offer a bonus to the referrer and sometimes to the referred applicant. The referred applicant’s bonus may be higher or lower than the Rakuten bonus depending on the current referral offer. In some cases, the referral bonus includes the same card welcome bonus plus additional points for the applicant that exceed the Rakuten cash value. Checking referral offers alongside portal offers ensures the applicant captures the highest available value.
Some sites aggregate current elevated offers for popular credit cards, and checking an aggregator before applying can reveal limited-time bonuses that are not widely publicized. The effort of checking is minimal, and the potential incremental return of a few thousand points or tens of dollars of cash back is high relative to the time spent.
This article is based on publicly available Rakuten credit card bonus offers, Chase Ink Business Unlimited terms, and general knowledge of credit card application channel dynamics as of July 2026. Rakuten bonus amounts, cash-back-to-points conversion rates, and Chase application rules are subject to change. Confirm current offer terms on the Rakuten and Chase websites before applying.
Q: Will using the Rakuten link affect the Chase Ink Business Unlimited welcome bonus? A: No. The Rakuten bonus is completely separate from the card’s welcome bonus. You will receive the card’s standard welcome bonus if you meet the minimum spending requirement, plus the Rakuten bonus if you applied through the Rakuten link and were approved.
Q: How long does the Rakuten bonus take to post? A: Rakuten typically reports the bonus to your account after the issuer confirms the application approval, which can take several weeks to a few months. The bonus then follows Rakuten’s standard quarterly payout schedule. Check your Rakuten account for the current status and expected payout date.
Q: Can I get the Rakuten bonus as Amex Membership Rewards points instead of cash? A: If your Rakuten account is set to earn Membership Rewards points rather than cash back, the bonus may post as points instead of cash. The conversion rate between cash and points varies and should be confirmed in your Rakuten account settings. Cash back and points preferences can be changed between payout periods.
Q: Is the Ink Business Unlimited worth applying for if I do not have a Chase premium card? A: Without a premium card like the Sapphire Reserve, Sapphire Preferred, or Ink Business Preferred, the Ink Business Unlimited earns 1.5 percent cash back rather than transferable Ultimate Rewards points. The cash-back version is still a solid no-fee card, but the value proposition is significantly lower without the ability to pool points and transfer to partners.
Q: What other Chase business cards should I compare before applying? A: The Ink Business Preferred offers 3x on travel, shipping, internet, cable, phone, and advertising, making it a better earner in those categories. The Ink Business Cash offers 5x on office supplies and telecom. The choice depends on your spending pattern. Evaluate all three Ink cards to determine which fits your business expenses best.