Good news for coffee addicts: Starbucks is launching a new Starbucks Rewards Visa Card which can earn you rewards for each purchase.
Last year, rumors were spread that a new co-branded card was going to be released soon as part of Starbucks new rewards initiative. This year, Starbucks announced that they will be launching the Starbucks Rewards Visa Card program in partnership with JP Morgan Chase.
Consumers can use the Starbucks Rewards Visa Card in all 8,000 Starbucks locations nationwide, and they can earn points or also known as stars. These points or stars can be redeemed for drinks and food to all Starbucks outlets nationwide.
Once you signed up, you automatically become a member of the company’s Starbucks Rewards Loyalty Program. A member can receive exclusive perks and benefits. On its 1st day of the announcement, almost 14 million have signed up already.
New members can enjoy the following perks.
1. New Cardmember Offer: For every $500 purchase in the first 3 months you can earn 2,500 Stars.
2. Bonus Stars: Earn 250 Stars when using Starbucks Rewards Visa Card mobile app for the first time
3. More Stars: 1 Star for every $4 spent outside of Starbucks stores. 1 Star for every $1 digitally loaded to their registered Starbucks Card in the Starbucks mobile app, using their Starbucks Rewards Visa Card, in addition to the 2 stars per $1 earned when paying with their registered Starbucks Card as a member of the Starbucks Rewards loyalty program
4. Instant Gold Status: Members will automatically receive Gold Status
5. 8 Barista Picks: Food and Beverage rewards will be selected by baristas and will be loaded to the card member’s account.
Starbucks Rewards Visa Card annual fee is around $49. After signing up, the customer can get the card within 7 to 10 days. They will also get a digital version which will be available automatically in Starbucks mobile app.
Starbucks said that it’s important for them to earn rewards easier for their customers and that’s why they come up with a Starbucks Rewards Visa Card. People have been using cards every day and they think it will create a great impact on their customers.
This marketing strategy will help Starbucks attract more customers and investors as well. In the recent report, the company has decreased its sales to more than 4% which is very alarming and they’re expecting that this idea will increase their sales.