Published on January 31st, 2018 | by William Charles71
Chase Starbucks Credit Card Rewards Details Leaked
Card has now launched, read our full review here.
Update 01/31/18: Looks like the reward details of this card have been leaked. Card will earn at the following rates:
- 1 star for every $4 spent outside of Starbucks
- Up to 3 stars for every $1 spent in Starbucks stores
- 8 Barista picks for card members throughout the year (‘barista cultivates a special drink just for you’
- Gives you gold status immediately
A free item costs 125 stars so the value you’ll get will depend on how much that item costs. You’ll need to spend $500 outside of Starbucks to get a free reward, if you put that same spend on a 2% credit card you’d earn $10. So there is very little/no value there. It’s hard to determine how good ‘up to 3 stars for every 1 spend in Starbucks stores is’ as it’s up to 3 stars. If it was 3 stars on all spend at Starbucks that would be a free item for every $41.66 you spent (plus the rewards you’d normally earn of 2 stars per $1 spent).
It also isn’t 100% clear what the Barista picks are. Are they a complimentary item or just a special menu item cardholders can purchase?
Update 01/30/18: In Starbucks most recent earnings call Starbucks CEO Kevin Johnson provided some additional details regarding the card:
- In partnership with Chase and Visa, we are launching a co-branded credit card in February. These customers will earn Stars at an accelerated rate at Starbucks as well as earn Stars everywhere else they shop.
- In April also with Chase and Visa, we are launching a co-branded stored value card targeted to customers who don’t want or can’t qualify for credit cards. This card will also let customers earn Stars wherever Visa is accepted.
- In March, we are launching a significant marketing initiative to sign up customers for special offers outside of Starbucks Rewards, with only 14 million of the 75 million or so unique customers, who visit us each month signed up for Rewards, we have a tremendous opportunity to leverage our new digital technologies to initiate and advance additional direct digital relationships.
Original post: Starbucks has announced that they plan to have a co-branded card with Chase this winter and a prepaid card at some stage later. In early 2016 Chase & Starbucks said a prepaid card would be launched by years end but that product never materialized. Both the prepaid and credit card will allow customers to earn Starbucks reward when they spend. The exact earning structure of this card is unclear at this stage. Chase didn’t have any additional comments or information to share, Starbucks provided this statement:
- …we will be launching new financial service products in the U.S. with Chase. The first product, launching this winter, will be a co-branded Visa credit card, enabling customers to receive Starbucks Rewards with their purchases both in, and out of Starbucks stores. The second product, a prepaid Visa card we have discussed on prior earnings calls – will be introduced shortly thereafter. Both products will offer a rich rewards proposition for customers and we look forward to sharing additional details as the products come available.
Chase has offered some deals in partnership with Starbucks in recent time, for example:
- Chase Pay: Load Starbucks With $10+, Get 250 Bonus Stars (Two Free Drinks)
- [Targeted] Use Your Chase Marriott Card & Get 10% Back On Starbucks
Starbucks did have a co-branded card in the past called Duetto, this was launched in 2003 and discontinued in 2010 and was issued by Bank One (now part of J.P. Morgan Chase). This card earned 1% Duetto dollars on all purchases and 3% Duetto dollars on Starbucks gift card reloads.