Samsung just launched a credit card with rewards that seem 'too good to be true'
With Samsung’s Galaxy Unpacked expected to take place today (July 22) in London, many fans are anticipating the announcements of brand new products.
Ahead of the event, the tech giant has been releasing first looks at some of the exciting additions it will be rolling out, with one in particular causing a stir online.
Users have been reacting to one announcement on social media, with some claiming that the product could be ‘too good to be true’.
Samsung unveiled its Samsung Galaxy Card yesterday (July 21), which is the firm’s first ever credit card, offering customers cash rewards on everyday purchases.
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According to the tech company, the card will be issued by Barclays US Consumer Bank on the Visa network and, within the first 90 days of the account opening, customers will be able to earn an additional $200 in bonus cash rewards after spending $2,000 at any Samsung store in the US.
Other Samsung Galaxy Card benefits include:
- 5% cash rewards on eligible purchases made directly with Samsung
- 3% cash rewards on purchases made with Samsung Wallet
- 2% cash rewards on streaming services, like Netflix, Disney+, and Spotify
- 1% cash rewards on all other purchases
- 20% off Samsung VIP Advantage, plus earn 5% cash rewards when purchasing or renewing a Samsung VIP Advantage membership
Woncheol Chai, who is EVP and Head of the Digital Wallet Team at the Mobile eXperience (MX) Business at Samsung Electronics, said: “For years, users have relied on Samsung products to enhance their daily life - from staying connected with friends, to relaxation, to productivity. Today, Samsung Galaxy Card offers users a new way to be rewarded every time you pay.
“Users are busy, they need a credit card that simplifies their life and offers them real value — Samsung Galaxy Card does both.”
The news has prompted many people to take to the internet to share their own reactions online, with one user writing on Reddit: “Just applied and got 9k limit... I use samsung wallet almost 99% of times.. it felt like no brainer for me for its flat 3% back.. card being visa can be used in Costco as well.”
Another said: “Man this seems like a no brainer for someone who uses Samsung wallet already. No cap and $1 redemption minimum if you use your phone, feels like it should get nerfed lol.”
And a fourth added: “Ohhh this sounds way too good to be true.. This is on my watchlist cause if they succeed then Google hopefully is next for Pixel or Google Store purchases..”
I guess time will tell whether the product lives up to the hype as customers begin to use their new credit cards.
Eligible early access customers were able to start their applications yesterday and general public access has begun today.