I’ve never had a balance disappear, I have had to communicate with Rakuten CS several times to prove that I used their site to purchase items from Visible so that I get credit for the cash back, including my latest Visible purchase of a ZTE Blade 7 Prime during which time Rakuten was offering $60 cash back. Don’t give up, email them proof, they’ll pay up.
One of the visible employees on reddit confirmed there was a big attack on visible using bots to generate a lot of these $60 credits. They had to cancel all of them to make sure they got them all. People were getting credited $60 for byod too which wasn't supposed to happen. Apparently that is the end of these cashback promos now too. If you bought a phone open a ticket with rakuten.
It looks like the cashback from the previous rounds remains safe.
I lost a $40 and $60 cashback on the two swaps I ordered 5 weeks ago. I'll see if Rakuten will credit them back but if not no big deal. I already sold the A3s for a profit...certainly for much more than I could have gotten for the crap I traded in.