Posted by William Charles on February 11, 2018
Deals

Published on February 11th, 2018 | by William Charles

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Samsung Pay Has Cut Rewards Earnings In Half

Samsung Pay is currently the only mobile wallet that offers a rewards program. You earn a fixed amount of points for every transaction, rather than earning based on the dollar value of each transaction. The amount of points you earn is tiered and used to be as follows:

Approximately two days ago Samsung Pay made a change and cut the earning rates in half. It now looks like this:

As you can see, earning rates have been halved across the board. This is in addition to the fact that Samsung Pay recently devalued points to make them worth less as well. It’s hard to complain too much, because this is all in addition to the rewards you’d normally earn on your credit card but it’s still a significant and negative change.

Hat tip to join_the_club



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YRK
YRK

I was wondering when I reached silver again this month that didn’t it give 20 points.
Then again as you mentioned its kinda small bonus though main use of sp is the once in a while deals of using x card three times to get sp gc

AB
AB

From 5 to 20 cents per purchase, earning is down to 2 to 8 cents. Ouch.

Max monthly is down to $4 from $10.

Lrdx
Lrdx

If the monthly maximum is $4, and the points expire after 1 year, why is there still any redemption of $50 or higher available.. *grumble* *grumble*

-G-
-G-

When the program was nerfed last month it was bad, but now that it’s hobbled I probably won’t use it any more.

Dealing with transactions taking a little extra time was worth it when there was a $100 Visa GC in site, but without an incentive there’s no reason bother with it. Back to plastic cards for me.

It was nice while it lasted, though.

Adam
Adam

Exactly. I’m also going to look at other phones next time, not just Samsung Pay phones.

J
J

I’m not surprised. I think Samsung’s intent has always been to incentivize people to use it so it would be part of their normal lives and then slowly take away the benefits in the hope that people would continue to use it.

It’s still convenient to use at times but won’t be going out of my way anymore to maintain Platinum status.

Tim W
Tim W

I have 9,690 points. I almost got to a $50 reward before the first devaluation, but just missed it. Now I feel like I’m never going to earn enough to cash in my first reward from them.

Still though, Samsung Pay still has great value, just not for its reward program. Mobile wallet anywhere is nice; my minimum earning regardless of where I’m shopping (besides online) is 5% this quarter thanks to Samsung Pay and Chase Freedom.

Peter
Peter

Same issue with me as well. No notice deval right when I get close to the reward. Not using Samsung Pay anymore unless my card itself is giving me a bonus (like Chase Freedom mobile wallet 5% this quarter). I honestly prefer using my physical card anyway since I always need to carry my wallet for my drivers license anyway…

AB
AB

That makes 3 of us. Man, the people that got in on this as recently as late last summer must’ve really cleaned house, relatively speaking. When I got my Note 8 at Thanksgiving, all the things I thought were in place (not why I got the phone) had already expired, and the whole thing has continued to dwindle ever since. The points being cut in half not long after I first reached Platinum status really feels like a kick in the nuts. Even so, I’ll probably continue to use it as much as I can. Chase Freedom is awesome for having made mobile pay part of this quarter’s 5% categories and is definitely my main motivation in using SP at the moment. I hope Discover takes notice and does the same. Fortunately, if they try it this year, there’s no chance of them going head to head with Chase, as they’ve already done it this quarter. I hate when competing CC companies pick the same category in the same quarter. Even without any of the rewards, if mobile pay is indeed as secure as they claim (significantly better than strip or chip, right?), it’s certainly quicker than either. I’ve only run into a couple of situations where a merchants MSR couldn’t handle SP, and I think it boils down to the associated antiquated software, not the reader itself. I’ve even pulled off paying at the pump a time or two, which definitely takes some patience.

NinjaX
NinjaX

well, this is what happens when abusers come into play. cant be helped. too many people getting free shit.

Dylan
Dylan

No surprise here. The more people use samsung pay, the more they can get away with fewer rewards. This was due to happen any day.

Steve
Steve

I have probably earned about $300 using Samsung Pay. So sad they changed the rate!

Credit
Credit

I just started. Should I not bother then?

Chucks
Chucks

Probably not unless your card gives a bonus for mobile payments or you’ve left a particular card at home. I’ve found it a bit cumbersome to switch over and use Samsung Pay, almost not worth it for a few pennies.

Jeremy
Jeremy

Samsung Pay is by the far the most widely accepted since it uses MST or NFC not just NFC. I can’t count how many times a cashier told me they don’t take Apple Pay, to only see the receipt print out using Samsung Pay.

This quarter for Chase Freedom is very easy to use with Samsung Pay. It’s practically 5x everywhere (except online).

Adam
Adam

Actually it’s any mobile payment. So you can use it @ many places with Apple Pay and Safari.

Derek
Derek

I think the point that Jeremy was making was that you can use Samsung Pay in places that Apple Pay will not work. Samsung has MST technology that mimics a magnetic swipe in machines that are not equipped for NFC.

I used to use Android Pay exclusively, and had it not been for MST, and the Samsung Rewards program I would have never even tried Samsung Pay. I’d have a hard time going back to Android Pay now, there are just too many places that don’t accept NFC around me.

Jonathan
Jonathan

Yep you can even uses SP at gas pumps that have the old insertion readers. Sometimes you have to insert a biz card to activate the reader.

meed18
meed18

Wow, I didn’t know this. Thanks for mentioning it. I’ll be trying this out the next time I fill up.

Jonathan
Jonathan

It’s so much faster than both chipped and non chip cards, unless you run into an old POS Card reader. I entered and carry copies of my vehicles insurance cards, DL, as well as memberships cards, you can manually enter them as well as GC that are not supported manually under membership card section. Costco still won’t accept anything but the physical card even with a scanable barcode.

I will still use SP, just not going to push for rewards any longer except the use your Chase card 3x for $10 GC, etc or the 15%+ off GC I already purchase for gas points at Kroger stores.

AB
AB

If the website you’re shopping at accepts Visa Checkout (not many, unfortunately), you CAN utilize Samsung Pay.

Marshall
Marshall

I’ll have to ditch this. It’s not worth it anymore. Last time I was so close to 10,000 points before they changed the point structure with no notice. And now with this change again without any notice and in the middle of the month. They bribed us to to use their product and change our behavior but now I’ll have to delete the app. It’s way too slow and not worth it anymore.
God only knows what other change they’ll do next to the program.

Adam
Adam

Just started a few weeks ago … and the USBank Altitude transactions were not even showing up which made things worse!
I guess that doesn’t matter anymore..

tribesman55
tribesman55

Have the same problem with my Altitude and Samsung Pay, doesn’t matter anymore now since I won’t be using it anymore.

Peter
Peter

WOW! First a 20% cut and now a 50% cut? That’s freaking huge! It’s not even worth the time anymore. There’s no advantage to using this mobile pay.

John
John

The ONLY reason that I keep samsung phones is for samsung pay. I’m actually back in the phone market, and will be looking elsewhere now since the rewards aren’t worth it anymore. I will continue to use it this quarter for the freedom rewards, but other than that, I’ll probably stop, except when there are gift cards that I want to buy at a discount

Mark
Mark

Wow, I’m surprised people would buy a phone simply because of the potential rewards from Samsung Pay. Don’t get me wrong, the devaluation of the points has been huge since inception; it was always a bonus anyway and no other mobile wallet offered it. With the original points required for samsung rewards cards, you could earn $20 per month just by doing the 50 transactions. Now we are down to $4-seems about right but I didn’t check the math. On top of that there were tons of other bonuses always available and those seem to be much less frequent. I have made approximately $1000 off of samsung pay rewards points, and that doesn’t count the savings from discounts regularly available on gift cards that are generally better than offers you find elsewhere. Aside from the rewards program being pretty much devalued to nothing now, it simply is a better mobile wallet than any other available. People can debate that but I say that only because it is accepted nearly everywhere. I’m actually tired of proving cashiers wrong when they tell me it won’t work. For me, carrying my phone is better than carrying 10 different cards. I carry one just in case and my phone.

Jonathan
Jonathan

So glad I didn’t upgrade my S8+ to a S8 Note and give my S8+ to my wife, I came so close, but now I’m glad I didn’t, I noticed that SP increased Samsung Visa GC and BB, last month. Oh so glad I cashed in my 10k points in December for a $50 Visa GC, great timing, but I cant really complain, the promos since I got my S8+ , was able to take advantage of the card issuers promos except for a few like Navy FCU and 1-2 others. I’m not going to worry now if I lose Plat. Status I had to make the effort toward the end of Jan, to hit 30

GGBG
GGBG

I was thinking of getting a used $90 S6 Active for underwater pics while on vacation and taking advantage of the rewards program. Do you think it’s worth it?

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