Rakuten vs MONEX Tsumitate with Credit Card

[beanhead]

Rakuten allows 50,000 credit card and another 50,000 via Rakuten Cash which can be funded by the same credit card. So 100,000 per month.
Perfect for the tsumitate part of the new NISA.

I asked Monex if they would increase their limit from 50,000 to match from 2024.
Answer: we are still considering this.

So at this moment, Nov 2023, Rakuten seems to be slightly easier to deal with than Monex for regular, monthly DCA into the new NISA using a credit card.

[Tsumitate Wrestler]

Rakuten allows 50,000 credit card and another 50,000 via Rakuten Cash which can be funded by the same credit card. So 100,000 per month.
Perfect for the tsumitate part of the new NISA.

I asked Monex if they would increase their limit from 50,000 to match from 2024.
Answer: we are still considering this.

So at this moment, Nov 2023, Rakuten seems to be slightly easier to deal with than Monex for regular, monthly DCA into the new NISA using a credit card.

Only one securities company has set their rates to 10万。tsumiki証券 (never heard of it.)

Rakuten's cash workaround is definitely usable, but not optimal.

https://randomwalker.blog.fc2.com/blog-entry-4974.html

I would recommend SBI as well as SMBC cards are much better than the Monex card, and you can use two separate cards if you wish

[beanhead]

Only one securities company has set their rates to 10万。tsumiki証券 (never heard of it.)

Rakuten's cash workaround is definitely usable, but not optimal.

https://randomwalker.blog.fc2.com/blog-entry-4974.html

I would recommend SBI as well as SMBC cards are much better than the Monex card, and you can use two separate cards if you wish

Thanks for that. Tsumiki? Nope, got me too.

I have Money and Rakuten set up already. Don't need the extra complication of another account!
For anyone starting out, as you said SBI may be the best/simplest choice to optimize the points.

Rakuten's cash thing is a bit complicated at first and i don't really understand the timing, to be honest, but it meets the requirement of allowing more than 5万円 per month via the credit card.

[zak]

Only one securities company has set their rates to 10万。tsumiki証券 (never heard of it.)

You would hear a lot about them if you owned EPOS credit card.
When I checked on them they had very poor selection of funds to buy.

Monex made announcement that they will temporarily increase percentage
https://info.monex.co.jp/news/2023/20230928_02.html
1.5% for existing customers, period: Jan - Sep 2024
2.2% for new customers joining from October, period: Oct 2023 - Sep 2024

They also mention that the limit is 50,000.
I guess it will not change until September.
New customers can receive same amount of points as if they used 100k credit card during this period by paying 50k with credit card and 50k with bank transfer.
I just hate companies who maltreat their existing users like this.

[Tsumitate Wrestler]

Only one securities company has set their rates to 10万。tsumiki証券 (never heard of it.)

You would hear a lot about them if you owned EPOS credit card.
When I checked on them they had very poor selection of funds to buy.

Monex made announcement that they will temporarily increase percentage
https://info.monex.co.jp/news/2023/20230928_02.html
1.5% for existing customers, period: Jan - Sep 2024
2.2% for new customers joining from October, period: Oct 2023 - Sep 2024

They also mention that the limit is 50,000.
I guess it will not change until September.
New customers can receive same amount of points as if they used 100k credit card during this period by paying 50k with credit card and 50k with bank transfer.
I just hate companies who maltreat their existing users like this.

Only an 8 months though? 適用期間：2024年1月4日（木）～2024年9月30日

Monex is a tough sell for people, as the card is harder to get and offers fewer benefits. Most people have/want a Rakuten or SMBC card giving SBI and Rakuten the edge.

[banders]

Search function doesn't work so I'll post this here. We use SBI and my wife suddenly decided she wants to use a credit card. Is this limited to ¥50k pm even though you can put in ¥100k tsumitate...?? And can we use our American Express card or does it have to be a specific card? If there's a thread on this, a link would be much appreciated.

[zeroshiki]

Search function doesn't work so I'll post this here. We use SBI and my wife suddenly decided she wants to use a credit card. Is this limited to ¥50k pm even though you can put in ¥100k tsumitate...?? And can we use our American Express card or does it have to be a specific card? If there's a thread on this, a link would be much appreciated.

For SBI it needs to be a SMBC card. They have a list of qualifying cards on their site.
The limit is 50k. You're free to do as much tsumitate as you want if you're using bank funds but for CC the max is 50k for SBI.

[banders]

Thanks zero. Guess it'll still be cash then until they open it up to the amount people want to pay in with the card they want to pay in with.

[zeroshiki]

Well the objective of allowing CC purchases is to have synergy within the SMBC ecosystem and push the SMBC cards. I seriously doubt they will open this up to any other cards anytime soon.

[beanhead]

Thanks zero. Guess it'll still be cash then until they open it up to the amount people want to pay in with the card they want to pay in with.

Don't hold your breath on that. All of the larger online brokerages want to cross-sell you on their other services. No real incentive for Rakuten Shoken, for example, to allow you to use your own Amex card or other card. They want to tie you in.

It does make sense to increase the amounts payable to 100k per month for the tsumitate portion of the new NISA. So fingers crossed SBI may be able to meet that request in the future...if using their preferred/partner credit card.