Rakuten Group Inc.
Rakuten Group Inc.
11/14/2024 | Press release | Distributed by Public on 11/13/2024 23:37
Rakuten Card and Mizuho Bank to Launch Co-Branded 'Mizuho Rakuten Card' on December 3, 2024
November 14, 2024
- Rakuten Card Co., Ltd.
- Mizuho Bank, Ltd.
Rakuten Card and Mizuho Bank to Launch Co-Branded "Mizuho Rakuten Card" on December 3, 2024
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Tokyo, Japan, November 14, 2024 - Rakuten Card Co., Ltd. and Mizuho Bank, Ltd. today announced the launch of the Mizuho Rakuten Card, a new co-branded credit card that will start taking applications and issuing new cards on December 3, 2024. A promotional campaign will launch on the same day to commemorate the release of the Mizuho Rakuten Card.
Card Design
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*The Mizuho Rakuten Card does not include a cash card function.
In a move to transform Japan's digital payments landscape and forge new business models by combining their respective areas of expertise, six leading companies, including Rakuten Card and Mizuho Bank, formed a business alliance agreement on November 13, 2024*1. As a key part of this alliance, Rakuten Card and Mizuho Bank have partnered to issue the Mizuho Rakuten Card.
With this new card, customers can designate Mizuho Bank as their withdrawal account. The more customers use the card, the more Rakuten Points - Rakuten's flagship loyalty program - they earn. The card, which also comes with preferred benefits for banking transactions, is designed to make everyday life more convenient and rewarding for even more customers.
Membership rewards include 1% in Rakuten Points for purchases using the Mizuho Rakuten Card*2, and 3% for purchases on Rakuten Ichiba, delivering benefits almost identical to the Rakuten Card*3. Additionally, as an exclusive benefit, the card comes with Mizuho Mileage Club membership and a range of perks such as free ATM withdrawals and waived money transfer fees when using the Mizuho Rakuten Card, making both banking transactions and everyday shopping more rewarding for customers.
Furthermore, the companies are considering introducing even more attractive benefits, such as integration with a new point service, in a significant update planned for Mizuho Bank's Mizuho Mileage Club next spring.
With around 24 million individual customer accounts, Mizuho Bank has made expanding its customer base while maintaining its strong business foundation a key strategic focus. The bank is committed to becoming the most convenient and reliable partner for its customers.
Since launching in July 2005, Rakuten Card has achieved continuous growth, with over 31.44 million cards issued as of the end of September 2024. The company proactively promotes cross-usage with various Rakuten Group services, driving the adoption of cashless payments both within and outside the Group.
With the launch of this partnership card, Rakuten Card, Mizuho Bank and their respective Groups are set to elevate customer convenience to new heights, working together on a variety of innovative services and initiatives.
Card overview
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Card name |
Mizuho Rakuten Card |
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Issuing company |
Rakuten Card Co., Ltd. |
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Card network |
Visa |
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Annual fee |
Free |
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Eligibility |
Residents of Japan ages 18 and up (those who already have a Rakuten Card can apply for a second one) |
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Withdrawal account |
Limited to Mizuho Bank accounts |
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How to apply |
Via the Rakuten Card website |
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Key features |
Mizuho Mileage Club: A service that offers customer benefits based on card usage status, such as no fees for after-hours withdrawals • Monthly usage of Mizuho Rakuten Card*4 ○ Free Mizuho Bank and AEON Bank ATM withdrawals and after-hours withdrawals
○ Free convenience store ATM withdrawals up to twice a month • Annual usage of 1 million yen or more on the Mizuho Rakuten Card ○ Free Mizuho Bank and AEON Bank ATM withdrawals and after-hours withdrawals ○ Free convenience store ATM withdrawals up to three times a month ○ Free money transfers to other banks up to three times a month, when using Mizuho Direct |
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Additional features |
Visa Touch, Rakuten Edy |
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Travel insurance |
Overseas travel accident insurance (up to 20 million yen, conditional on usage) |
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Point rate |
1% points back (1 point per 100 yen)*2 |
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Other point benefits |
• 3% points back on Rakuten Ichiba purchases*3 • 0.5% points back on Mizuho Rakuten Card payments on Rakuten Securities*5 |
Notes
*1 Press Release: Rakuten Group, Rakuten Card, Mizuho Financial Group, Mizuho Bank, UC Card and Orient Corporation Form Business Alliance to Transform Digital Payments in Japan (November 13, 2024) https://global.rakuten.com/corp/news/press/2024/1113_02.html
*2 Some transactions may be excluded from awarding points, or the point rate may vary.
*3 This benefit is part of the SPU (Super Point Up Program) on Rakuten Ichiba. The 3% point back rate for Rakuten Ichiba is comprised of 1% from regular Rakuten Card usage, 1% from Rakuten Ichiba and an additional 1% from Rakuten Card benefits. For more details, please check the Rakuten Ichiba website.
*4 Initial registration for Mizuho Direct is required.
*5 When making credit card payments for investment trusts on Rakuten Securities, the point back rate is 0.5% (for funds with an annual agency fee rate of less than 0.4%, including tax). For funds with an annual agency fee rate of 0.4% or more, including tax, the point back rate is 1.0%. For more details, please check the Rakuten Securities website.
Mizuho Rakuten Card launch campaign overview
- New Rakuten Card members campaign
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Duration |
10 a.m. on December 3 to 10 a.m. on December 23, 2024 |
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Rewards overview |
13,000 points for new membership, card usage and setting Mizuho Bank as the withdrawal account |
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New membership / Rewards (1) |
[Reward 1] New membership reward: 2,000 points (regular points)
• Those who apply for and are issued a Mizuho Rakuten Card for the first time.
• Those who use the Mizuho Rakuten Card at least once for a minimum of 1 yen by the card usage deadline. • Those with Mizuho Bank set as their card's payment account when the account transfer setting deadline is reached.
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Rewards (2) |
Mizuho Bank account setup & usage reward: 5,000 points (regular points) Eligibility • Those who apply for and are issued a Mizuho Rakuten Card for the first time. • Those who use the Mizuho Rakuten Card at least once for a minimum of 1 yen by the card usage deadline. • Those with Mizuho Bank set as their card's payment account when the account transfer setting deadline is reached.
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- Second Rakuten Card enrollees
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Duration |
10 a.m. on December 3 to 10 a.m. on December 23, 2024 |
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Campaign |
3,000 points for campaign entry, creating a second card, usage and setting Mizuho Bank as the withdrawal account |
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Second card / Rewards (1) |
Second card creation & reward: 1,000 points (limited time points) Eligibility • Those who create a Mizuho Rakuten Card as their first-ever second Rakuten Card. • Those who use the Mizuho Rakuten Card at least once for a minimum of 1 yen by the card usage deadline. • Those who complete the entry process within the specified period.
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Second card / Rewards (2) |
Mizuho Bank account setup & usage reward: 2,000 points (regular points) Eligibility • Those who create a Mizuho Rakuten Card as their first-ever second Rakuten Card. • Those who use the Mizuho Rakuten Card at least once for a minimum of 1 yen by the card usage deadline. • Those with Mizuho Bank set as their card's payment account when the account transfer setting deadline is reached.
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Please be sure to check the details for the above campaign via the official site, available from 10 a.m. on December 3.
https://www.rakuten-card.co.jp/card/mizuho-rakuten-card/ (*Japanese page)