Starbucks recently announced what will be a partnership with Starbucks to drop a co-branded Chase Starbucks rewards card by this winter with prospects of even a prepaid card dropping as well. Both the Starbucks prepaid and credit card will offer customers a chance to earn Starbucks rewards with their spending. As of now, any structuring related to this card is unknown, however Starbucks did release a statement not too long ago, so it should be expected. Not surprising since Chase had a co-branded card with Starbucks years ago already.
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Chase Starbucks Credit Card Launch Updates:
- Release of a new JP Morgan’s Chase Starbucks Rewards Card readily launching in December.
- Release of a new Prepaid VISA Card readily launching after the Credit Card is available to the market.
- Card’s intentions are to reward Starbucks spending to frequent customers.
…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.
Possible Rewards?
Well, this new Chase Starbucks credit card has to be marketable, which means that there must be at least a somewhat rewarding structure involved and valuable rewards points. Starbucks rewards points valuation is sub-par and hopefully, they put some more creativity into it than just revamping the old 2003 Chase Starbucks Duetto Card which offers 3% Duetto dollars on Starbucks gift card reloads and 1% Duetto dollars on everything else. Lets keep in mind that purchasing Starbucks gift cards via the Mileage Plus X App with a Chase Sapphire Reserve + the 25% Bonus will effectively get you 5.5 miles per dollar spent [3x from CSR + 2x from Mileage Plus app + 25% Bonus].
Conclusion:
The Chase co-branded Starbucks Rewards Card may have all the frequent Starbucks consumers saying “Yass.” I mean, Chase is pretty good at making competitive credit cards, so maybe they already taken into account of perhaps making the rewards structure more attractive than just buying Starbucks gift cards. Offering complimentary Starbucks Gold Status is a start. Of course, not everyone can maximize 5.5 miles from a Chase Sapphire Reserve, so I’m expecting it to be somewhere in the middle. On my end, I don’t think getting my hands on this card would be very detrimental considering that I’m not necessarily a frequent Starbucks consumer. If you’re still looking for other deals, you can find our complete list of Credit Card Bonuses from our exclusive list!
