Starbucks Launches New Prepaid Rewards Card
Chase and Starbucks have teamed up to launch a new co-branded prepaid rewards card. The Starbucks Rewards Visa Prepaid Card is “the only reloadable Visa prepaid card with Starbucks rewards,” allowing users to earn Stars on outside purchases.
Under the traditional Starbucks Rewards program, users earn two Stars per $1 spent at Starbucks. Stars can be used to make future food and drink purchases. The rewards are tallied any time someone uses the mobile order app or swipes their rewards card before paying for a purchase. The traditional rewards card has no monetary value. It is used to verify that a purchase should be connected to a rewards account.
The new prepaid card offers those same benefits, as well as a 125 Star bonus after loading $10 or more on the card. This automatically qualifies someone for Gold member status, giving them access to special offers like Double Star Days.
Unlike the traditional rewards card, the new prepaid rewards card offers one Star for every $10 spent at other stores. There are no annual fees, monthly fees, or reload fees on the card.
Discussions of a reloadable prepaid rewards card first came about more than two years ago, when the rewards program had nearly 12 million members. That number has now grown to 14 million.
Earlier this year, Chase and Starbucks launched a rewards credit card that offers a much more lucrative rewards program. Users can earn a 2,500 Star bonus after spending $500 in the first three months. Each $1 spend at Starbucks is worth three Stars, and users can earn one Star for every $4 spent elsewhere. The credit card comes with a $49 annual fee.