Starbucks lovers will soon be able to earn rewards for the chain’s food and drinks even when they’re not actually buying them.
The coffee giant announced this week it is partnering with Chase Bank to launch a prepaid rewards card that allows cardholders to earn “stars” (Starbucks’ version of points) on virtually all their purchases.
Full terms and conditions related to the card are not yet available, as it is set to be released by the end of this year. A spokesperson for Chase did confirm, however, that the card will not have monthly service, loading or overdraft fees — common pain points for prepaid card users. There will be a $5 fee for a expedited card replacement, a 3 percent foreign transaction fee and a $75 legal processing fee if the bank had to hold or pay out account funds as a result of a legal action.
Starbucks’ new offering is notable in that most prepaid cards don’t feature a rewards program, though there are a few others out there on the market that do. (The
prepaid account, for instance, offers cardholders 1 percent cash back on purchases.) There’s no news yet on how many stars you would earn when using the card for in- or out-of-store purchases, though
on comments from Starbucks Chief Operating Officer Kevin Johnson indicate there will likely be a difference between the two.
Earlier this year, Starbucks overhauled its popular rewards program so that, as of April 12, customers will get two stars per dollar spent in lieu of one star per visit. It said in a recent press release that there are currently about 12 million active members using its loyalty program.
Customers will be able to apply for the forthcoming card through the Starbucks mobile app or website.
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