AmEx Launches Plenti Cross-Branded Rewards Program
American Express is changing the way customers earn rewards points, thanks to the new Plenti rewards program launched this week. Plenti is the first rewards card to offer interchangeable loyalty points across multiple brands, and it may be just what AmEx needs to repair its image in the card industry.
With a Plenti rewards card, users can earn one Plenti point for every $1 they spend at participating partners. Some of those partners include AT&T, Enterprise, Hulu, Exxon, Macy’s and Rite Aid, with new companies expected to join the program in the future. Cardholders can earn loyalty points with any partner to use on discounts, special offers, and purchases with other partners in the program.
Anyone over the age of 13 can sign up for free for the Plenti rewards program.
The benefit of Plenti comes in the versatility of its loyalty program. Most of us don’t spend enough money in one specific store to reap the rewards of a traditional store card. With Plenti, you can earn rewards for paying your phone bill, filling up gas or renting a car. Then, you can apply those rewards to an indulgence, like a trip to Macy’s–even if you never directly earned a point from Macy’s.
It’s important to note that Plenti itself is not a credit card. It is more like a store rewards card that you would swipe in addition to your payment card at your favorite retail shop. There is, however, a Plenti Credit Card from AmEx, which gives users even more chances to earn Plenti points. Qualified applicants will earn 1 point per $1 spent on the card, even outside of Plenti partners. There are no annual fees for the credit card, and the introductory promotion on the card offers 0% APR for the first 12 months.
AmEx first announced the concept of Plenti last month, where Ed Gilligan, president at American Express, said, “This is a perfect time for a coalition loyalty program in the U.S., as online marketing becomes more efficient and American consumers become more accustomed to rewards programs, special offers and discounts.”
American Express has encountered some rough waters thus far in 2015. In February, the company ended its 16-year relationship with Costco stores in the United States, just six months after they lost the business with the Canadian division of Costco. A week later, JetBlue Airways announced it would be dropping American Express as its credit card provider in favor of MasterCard and Barclays.