Nearly seven years after Apple debuted the Apple Card, Samsung is entering the credit card market with the Galaxy Card. Issued by Barclays on the Visa network, the physical card is made from recycled steel and offers 5 percent cash rewards on purchases from Samsung itself in the US.
No annual fee applies, but perks such as a 20 percent discount on VIP Advantage membership and $200 in cash rewards after spending $2,000 in the first 90 days are available. The card can be managed through a BarclaysUS.com online portal or Samsung Wallet for Samsung device owners.
The rewards aren't revolutionary, but they target Samsung's most loyal consumers and card-maxxers looking to rack up points with every dollar spent. Brian Riley from Javelin Strategy & Research says entering the space is important for brand presence and loyalty.
Sara Rathner of NerdWallet echoes that sentiment, saying these cards exist to create brand loyalty. The 3 percent cash reward for purchases using Samsung Wallet on a phone or tap-to-pay at New York City's subway turnstile could be compelling.
