Samsung has revealed its new mobile wallet-first rewards credit card.
About the Samsung Galaxy Card:
This week, Samsung announced details about its new credit card: the Samsung Galaxy Card. The no-annual-fee card includes rewards on Samsung purchases as well as on everyday spending. Barclays is issuing the new card, which will operate on the Visa network.
With the Samsung Galaxy Card, members can earn 5% cash rewards on U.S. in-store and online purchases made directly from Samsung. What’s more, the card earns 3% rewards on purchases made using Samsung Wallet. Cardholders can also earn 2% rewards on select streaming service purchases and 1% on all other purchases. Cash rewards can be redeemed for statement credits, transferred to a U.S. checking or savings account, or used toward select gift cards.
To mark the launch, new Samsung Galaxy cardholders will be able to earn $200 in cash rewards after spending $2,000 in purchases on the card within their first 90 days. Additionally, customers can earn a 20% discount on a Samsung VIP Advantage membership when they use their Galaxy Card to purchase or renew.
Those interested in the Samsung Galaxy Card can apply online starting July 22nd.
What They’re Saying:
Discussing the new card, Samsung Electronics EVP and Head of the Digital Wallet Team at the Mobile eXperience Business Woncheol Chai said, “Samsung Galaxy Card is part of our ongoing vision for Samsung Wallet to deliver more connected and rewarding everyday experiences. Collaborating with like-minded partners, such as Barclays, is what made Samsung Galaxy Card possible.”
Chai added, “This marks yet another milestone in the evolution of Samsung Wallet and mobile payments — offering a new solution for busy users who want cash rewards whether they’re running errands or purchasing the latest Galaxy devices.”
My Thoughts:
Well, consider the Apple Card put on notice. While that card offers 2% back on all purchases made using Apple Pay, this Samsung Galaxy card earns 3% on Samsung Wallet purchases. To quote one of my favorite films, A League of Their Own, “Well then, this would be more, wouldn’t it?” I’ll also note that Barclays previously issued an Apple Rewards card before the launch of the Apple Card, so perhaps this is partially revenge?
With that, if you’re a Samsung Galaxy user, this could be a great chance to earn 3% back on a wide range of purchases. If you don’t have a Samsung phone… maybe you can get a cheap one just to use Samsung Wallet? It’s not a crazy idea if it works — although I might sit back and see how things play out before going to such lengths.
To conclude, though: your move, Apple.
