Fiat Chrysler launches new credit reward card for consumers. There’s an Uber Visa, a Starbucks Rewards Visa, and now what Fiat Chrysler hopes will be its muscle card.
Everywhere you turn, you can find a card offering rewards. But the reality is that it can be extremely tough to get consumers to change their habits. There are so many choices for different rewards platforms leave some consumer frozen.
Nearly 30% of American credit card holders have never switched their primary credit card, according to a survey by CreditCards.com. Another 12% of consumers said they last changed their go-to credit card 10 years or more ago.
The Uber Visa, issued by Barclays and launched last fall, targets millennials by offering 4% in rewards points for eating out; 3% on airfare, hotels and vacation home rentals; 2% for online purchases and 1% on everything else.
The Starbucks Rewards Visa Card, introduced in February, charges a steep $49 annual fee. Your rewards are “stars” that can be used at Starbucks and there are periodic, special Barista picks, complimentary food or beverages.
You can get up to three stars for every $1 spent at Starbucks and you get one star for every $4 spent outside of Starbucks. The stars expire six months after they are awarded.
Fiat Chrysler is trying to stand out from the crowd by doubling rewards if you use those points at dealerships in the FCA network. Rewards expire seven years after they are awarded.