For years, the Rakuten Premium Card has been one of Japan’s most accessible entry points into the premium credit card segment. Unlimited airport lounge access, insurance coverage and integration across the Rakuten ecosystem made it a premium card with the most generous Priority Pass proposition in the market and a highly popular option for mass affluent travellers.
In 2024, the introduction of a series of updates, including limits on airport lounge visits, revision to dining and experience benefits, and adjustments to certain rewards, generated discussion among consumers, with some online commentary referring to them as “改悪祭り”. Conversations across YouTube and social media reflected a growing interest in how card benefits are structured and communicated.
In addition, a Collinson International-commissioned study conducted by RICE (a FINN Partners company)*, which examined cardholder sentiment following these updates, found mentions of “改悪” had already begun appearing more widely online prior to Rakuten’s official announcement. This suggests that customers were already recognising a shift in the market, reflecting a move toward greater efficiency in managing credit card benefits.
Based on wider observations across social discussions around the Rakuten updates, consumers also used terms like “ラウンジ難民”, suggesting a level of dissatisfaction beyond the practical impact of the updates. While some cardholders viewed the changes as part of an ongoing evolution, others expressed concerns around consistency and perceived value.
The RICE study also found that around one-third of cardholders indicated they may reduce usage of the Rakuten Premium Card or consider additional cards. Separately, an internal analysis conducted by Rakuten showed that many of these customers were lower-spending users who tended to rely more heavily on Priority Pass benefits. This points to a moderate behavioural adjustment, with core, active users remaining resilient.
The response to Rakuten’s Premium Card changes is perhaps less unexpected when viewed in the context of broader consumer expectations in Japan. There has been a gradual shift from status-driven to experience-driven definitions of premium, with greater emphasis on travel, wellness and shared family moments.
‘Premium’, is increasingly associated with reliability and meaningful experiences, rather than exclusivity alone.
This aligns with wider global patterns where research suggests that mass affluent consumers are placing more value on travel and shared experiences as part of their definition of “premium.” As a result, perceptions of luxury are evolving to place greater importance on purpose, ease of use and overall well-being.
These shifts are also influenced by rising digital expectations. RICE’s Rakuten cardholder perception study found that the shift to digital membership was broadly welcomed by Rakuten cardholders, with around 80% expressing a neutral to positive response – suggesting that for many consumers in Japan, mobile-first access is becoming a standard expectation, with convenience and clarity playing a more central role in how premium services are experienced.
Against this backdrop, airport lounge access remains an important feature. Our findings show that 96% of Japanese travellers would consider switching payment cards if airport lounge access were removed – the highest sensitivity in the region. This proportion jumps to 100% among cardholders whose preferred airport lounge access programme is Priority Pass.
There are also indications that experience-led value plays an important role in shaping credibility and emotional connection among mass affluent cardholders. Recent research showed that half of cardholders in Japan and across Asia Pacific redeemed rewards for travel-related experiences over the last six months, underscoring the enduring emotional and behavioural pull of experiences beyond their monetary value.
A greater emphasis on curated, wellbeing-oriented benefits therefore appears closely aligned with the types of value that support connection, reassurance and long-term loyalty. Rakuten’s recent experience also illustrates a broader shift underway in Japan’s financial services landscape.
As financial institutions evolve from payment utilities into lifestyle enablers, loyalty is secured through the range of benefits offered and by how clearly and consistently these benefits are delivered.
Findings from Collinson International’s Travel Benefits and Customer Engagement Report further supports this direction. Among emerging affluent, high-engagement segments, travel-related benefits are the most important factor when choosing a credit card in Japan and across Asia Pacific.
Given this context – and with the Premium Card remaining an important pillar of Rakuten’s card portfolio – further aligning benefits with the expectations of Japan’s mass affluent travellers may help support stronger engagement over time.
Three opportunities emerge:
Rakuten has long demonstrated the value of its ecosystem through cross-service campaigns that reward customers who engage across multiple platforms. Recent linkages between Rakuten Travel and Rakuten Mobile highlight how these connections can provide additional value to users.
Extending this approach to the Premium Card could offer further opportunities – for example, ‘top-up’ travel-related benefits could be made available to customers who use the Premium Card alongside Rakuten Mobile or Travel services. Given the continued relevance of travel benefits among Japanese consumers, this may help reinforce perceived value among cardholders.
Spend-based initiatives may also support progression within the card portfolio. Some Gold cardholders are likely to use multiple payment cards, but targeted incentives – such as spend-based rewards like single-use airport lounge passes linked to spending thresholds – could encourage greater usage of Rakuten cards.
Over time, meeting these thresholds may support natural upgrades to the Premium Card, providing a tangible pathway for mass affluent cardholders to access premium privileges.
Premium cardholders who meet defined annual spend thresholds can enjoy restored airport lounge alternatives, offering a meaningful and exclusive reward for continued usage. By directly linking these enhancements to spend, benefits remain aligned with what cardholders truly value and appreciate, ensuring the Premium Card proposition stays compelling and retains its position as top of wallet in a competitive market.
Building on this tiered approach, Rakuten may also wish to consider reinstating lounge alternatives as a core benefit for Black Card members. As the highest tier in the portfolio, this enhancement would help uphold the card’s prestige, further distinguish the offering within the broader proposition and reinforce the Black Card’s position as the benchmark for exclusivity and recognition.
As Collinson’s Travel Benefits and Customer Engagement Report shows, cardholders tend to spend more and stay loyal longer when their experiences feel personally meaningful and aligned with what they value. By aligning experience-led rewards with ecosystem capabilities and spending behaviours, the Rakuten Premium Card will be well-placed to strengthen loyalty, deepen engagement and ensure its premium proposition remains compelling in an increasingly experience-focused payments landscape.
Collinson International, with its extensive expertise in travel engagement and customer experience, is well-positioned to assist banks and card issuers in effectively navigating these challenges. By leveraging our deep understanding of consumer preferences and behaviours, along with innovative strategies, we can support Japanese financial services organisations in crafting compelling experiences that resonate with modern cardholders.
Discover more about Collinson International's expertise in enhancing customer engagement through highly valued travel rewards and benefits. Speak with our experts to explore tailored strategies that drive satisfaction and loyalty.
Collinson International is the global, privately-owned company dedicated to helping the world to travel with ease and confidence.
We work with the world’s leading payment networks, over 1,400 banks, 90 airlines and 20 hotel groups worldwide. We deliver market-leading airport experiences, loyalty and customer engagement, and insurance solutions for over 400 million end consumers.
Collinson International is the operator of Priority Pass, the world’s original and leading airport experiences programme. Travellers can access a network of over 1,900 lounges and travel experiences, including dining, retail, sleep and spa, in 841 airports in 143 countries, helping to elevate the journey into something special.
*Rakuten cardholder perception study methodology
This study was conducted by RICE (a FINN Partners company) in August 2025 in the Japanese market. It combined a qualitative scan of media and social media discussions with an online dipstick poll of up to 200 Rakuten cardholders, specifically Black (18.3%) and Premium (81.7%), via the survey platform, Pollfish. The research assessed the perceptions and action-orientation of Rakuten credit cardholders following changes to the Rakuten programme related to Priority Pass benefits.
For years, the Rakuten Premium Card has been one of Japan’s most accessible entry points into the premium credit card segment. Unlimited airport lounge access, insurance coverage and integration across the Rakuten ecosystem made it a premium card with the most generous Priority Pass proposition in the market and a highly popular option for mass affluent travellers.
In 2024, the introduction of a series of updates, including limits on airport lounge visits, revision to dining and experience benefits, and adjustments to certain rewards, generated discussion among consumers, with some online commentary referring to them as “改悪祭り”. Conversations across YouTube and social media reflected a growing interest in how card benefits are structured and communicated.
In addition, a Collinson International-commissioned study conducted by RICE (a FINN Partners company)*, which examined cardholder sentiment following these updates, found mentions of “改悪” had already begun appearing more widely online prior to Rakuten’s official announcement. This suggests that customers were already recognising a shift in the market, reflecting a move toward greater efficiency in managing credit card benefits.
Based on wider observations across social discussions around the Rakuten updates, consumers also used terms like “ラウンジ難民”, suggesting a level of dissatisfaction beyond the practical impact of the updates. While some cardholders viewed the changes as part of an ongoing evolution, others expressed concerns around consistency and perceived value.
The RICE study also found that around one-third of cardholders indicated they may reduce usage of the Rakuten Premium Card or consider additional cards. Separately, an internal analysis conducted by Rakuten showed that many of these customers were lower-spending users who tended to rely more heavily on Priority Pass benefits. This points to a moderate behavioural adjustment, with core, active users remaining resilient.
The response to Rakuten’s Premium Card changes is perhaps less unexpected when viewed in the context of broader consumer expectations in Japan. There has been a gradual shift from status-driven to experience-driven definitions of premium, with greater emphasis on travel, wellness and shared family moments.
‘Premium’, is increasingly associated with reliability and meaningful experiences, rather than exclusivity alone.
This aligns with wider global patterns where research suggests that mass affluent consumers are placing more value on travel and shared experiences as part of their definition of “premium.” As a result, perceptions of luxury are evolving to place greater importance on purpose, ease of use and overall well-being.
These shifts are also influenced by rising digital expectations. RICE’s Rakuten cardholder perception study found that the shift to digital membership was broadly welcomed by Rakuten cardholders, with around 80% expressing a neutral to positive response – suggesting that for many consumers in Japan, mobile-first access is becoming a standard expectation, with convenience and clarity playing a more central role in how premium services are experienced.
Against this backdrop, airport lounge access remains an important feature. Our findings show that 96% of Japanese travellers would consider switching payment cards if airport lounge access were removed – the highest sensitivity in the region. This proportion jumps to 100% among cardholders whose preferred airport lounge access programme is Priority Pass.
There are also indications that experience-led value plays an important role in shaping credibility and emotional connection among mass affluent cardholders. Recent research showed that half of cardholders in Japan and across Asia Pacific redeemed rewards for travel-related experiences over the last six months, underscoring the enduring emotional and behavioural pull of experiences beyond their monetary value.
A greater emphasis on curated, wellbeing-oriented benefits therefore appears closely aligned with the types of value that support connection, reassurance and long-term loyalty. Rakuten’s recent experience also illustrates a broader shift underway in Japan’s financial services landscape.
As financial institutions evolve from payment utilities into lifestyle enablers, loyalty is secured through the range of benefits offered and by how clearly and consistently these benefits are delivered.
Findings from Collinson International’s Travel Benefits and Customer Engagement Report further supports this direction. Among emerging affluent, high-engagement segments, travel-related benefits are the most important factor when choosing a credit card in Japan and across Asia Pacific.
Given this context – and with the Premium Card remaining an important pillar of Rakuten’s card portfolio – further aligning benefits with the expectations of Japan’s mass affluent travellers may help support stronger engagement over time.
Three opportunities emerge:
Rakuten has long demonstrated the value of its ecosystem through cross-service campaigns that reward customers who engage across multiple platforms. Recent linkages between Rakuten Travel and Rakuten Mobile highlight how these connections can provide additional value to users.
Extending this approach to the Premium Card could offer further opportunities – for example, ‘top-up’ travel-related benefits could be made available to customers who use the Premium Card alongside Rakuten Mobile or Travel services. Given the continued relevance of travel benefits among Japanese consumers, this may help reinforce perceived value among cardholders.
Spend-based initiatives may also support progression within the card portfolio. Some Gold cardholders are likely to use multiple payment cards, but targeted incentives – such as spend-based rewards like single-use airport lounge passes linked to spending thresholds – could encourage greater usage of Rakuten cards.
Over time, meeting these thresholds may support natural upgrades to the Premium Card, providing a tangible pathway for mass affluent cardholders to access premium privileges.
Premium cardholders who meet defined annual spend thresholds can enjoy restored airport lounge alternatives, offering a meaningful and exclusive reward for continued usage. By directly linking these enhancements to spend, benefits remain aligned with what cardholders truly value and appreciate, ensuring the Premium Card proposition stays compelling and retains its position as top of wallet in a competitive market.
Building on this tiered approach, Rakuten may also wish to consider reinstating lounge alternatives as a core benefit for Black Card members. As the highest tier in the portfolio, this enhancement would help uphold the card’s prestige, further distinguish the offering within the broader proposition and reinforce the Black Card’s position as the benchmark for exclusivity and recognition.
As Collinson’s Travel Benefits and Customer Engagement Report shows, cardholders tend to spend more and stay loyal longer when their experiences feel personally meaningful and aligned with what they value. By aligning experience-led rewards with ecosystem capabilities and spending behaviours, the Rakuten Premium Card will be well-placed to strengthen loyalty, deepen engagement and ensure its premium proposition remains compelling in an increasingly experience-focused payments landscape.
Collinson International, with its extensive expertise in travel engagement and customer experience, is well-positioned to assist banks and card issuers in effectively navigating these challenges. By leveraging our deep understanding of consumer preferences and behaviours, along with innovative strategies, we can support Japanese financial services organisations in crafting compelling experiences that resonate with modern cardholders.
Discover more about Collinson International's expertise in enhancing customer engagement through highly valued travel rewards and benefits. Speak with our experts to explore tailored strategies that drive satisfaction and loyalty.
Collinson International is the global, privately-owned company dedicated to helping the world to travel with ease and confidence.
We work with the world’s leading payment networks, over 1,400 banks, 90 airlines and 20 hotel groups worldwide. We deliver market-leading airport experiences, loyalty and customer engagement, and insurance solutions for over 400 million end consumers.
Collinson International is the operator of Priority Pass, the world’s original and leading airport experiences programme. Travellers can access a network of over 1,900 lounges and travel experiences, including dining, retail, sleep and spa, in 841 airports in 143 countries, helping to elevate the journey into something special.
*Rakuten cardholder perception study methodology
This study was conducted by RICE (a FINN Partners company) in August 2025 in the Japanese market. It combined a qualitative scan of media and social media discussions with an online dipstick poll of up to 200 Rakuten cardholders, specifically Black (18.3%) and Premium (81.7%), via the survey platform, Pollfish. The research assessed the perceptions and action-orientation of Rakuten credit cardholders following changes to the Rakuten programme related to Priority Pass benefits.