Rakuten has another round of very high cash back offers on internet services, up to 100% back. If your Rakuten account is set to cash back, this is basically like getting the purchase for free. If you choose AMEX Membership Rewards as your payout method, it gets even more interesting: 98% back is equivalent to earning 98x MR, and 100% back is 100x MR.

Based on our current valuation of MR at 1.5 cents per point, for example, if you spend $100 and receive 9,800 MR, those points are worth about $147. That means you could come out about $47 ahead after accounting for the cost, plus you still earn the rewards from the credit card itself. So I think using the MR version is the best way to take advantage of these deals.

The high cash back offers currently seen include:

The rates for these types of offers can change pretty quickly. Several of these merchants have previously shown 100%, so before actually placing an order, be sure to check the cash back rate shown on your own Rakuten page at that time.

Note that NordPass cash back only applies to first-time subscriptions and is limited to once per Rakuten account. Also, do not use promo codes that are not listed by Rakuten, or you may not receive the cash back. NordVPN likewise requires a new user’s first subscription, and for bundled plans, only the Basic Plan portion is eligible for cash back. Taxes and fees generally should not be counted toward the money-maker calculation either; it is better if your billing address is already in a tax-free state.

Also, when placing the order, try to turn off other cash back extensions and any software that could interfere with tracking. After entering the merchant site from Rakuten, complete the purchase directly, and do not click any other promotional links in between.

If you plan to take advantage of these near-100% cash back deals, I personally recommend switching Rakuten to the MR version first. The cash version at 98% is only close to free, while the MR version at 98x is where the real money-maker potential is.