Rakuten's one-day Coveron promotion converts a $599.76 subscription into about 60,000 Amex or Bilt points, worth nearly double the cash-back, before midnight.
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Rakuten is running a one-day promotion on Coveron, an identity-protection software service, that pays 100% cash-back or 100x American Express Membership Rewards and Bilt Rewards points on subscription purchases.
This one-day window runs through Sept. 9 and applies to every individual and family plan. Cash-back is the default payout; Rakuten users can choose points in either rewards currency instead.
A Coveron Full Family Protection plan costs $24.99 a month on a two-year subscription. Paid up front, the total is $599.76, generating 59,976 Amex or Bilt points in one transaction.
Published valuations attached to the deal put the Amex points at about $1,319 and the Bilt points at about $1,200. Both are roughly twice the $599.76 purchase price, the amount the cash-back option would return.
For the shopper, that means buying almost 60,000 transferable points for $599.76. The same valuations note that fewer points can cover a one-way business-class ticket between the U.S. and Europe.
Purchases must be completed by the end of Sept. 9.
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