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Deal-Seekers Eagerly Await New Rewards with LivingSocial Credit Card
LivingSocial, the second-largest deal-making website on the Internet, behind number-one Groupon, has announced that they are partnering with JPMorgan Chase and Visa to offer a no-annual-fee credit card exclusively to their subscribers.
Available to anyone with a LivingSocial subscription, the card will offer $10 in "Deals Bucks" for every ten purchases made by cardholders.
LivingSocial CFO John Bax says he hopes that the card will help boost brand loyalty among their subscribers, as well as offing benefits to retailers.
"We will use this as a platform to encourage people to come back to merchants," Bax toldReuters. "Small and medium-sized localbusinesses will never be able to have their own credit card or loyalty program. We will be able to bring them the benefits of that."
Bax did not give details on reported plans for LivingSocial to offer short-term funding for merchants who participate in their programs. He did say that co-branded credit cards and loyalty programs often give deferred interest payments and rewards for purchases made by cardholders.
With the introduction of this new card, LivingSocial may be giving Groupon a run for their money, as they edge upward in popularity and look to become the number one website for deal-hunters.
Hyatt Credit Card is first to offer EMV chip technology
Unique among hotel reward cards, the Hyatt Credit Card from JP Morgan Chase now comes with EMV chip technology, featuring a microchip along with the traditional magnetic strip. The encrypted and embedded chip makes the card more secure than traditional cards and makes processing and storing its data more secure. This EMV chip technology is standard throughout Europe, Canada, Asia and Africa.
Offering EMV chip technology on the Hyatt Credit Card is an extension of our commitment to provide card members the best-in-class service and products. This new feature offers card members convenience and peace of mind that cannot be matched by any other U.S. cobranded hotel card," said Robin Schettini, general manager of Chase.
The card carries a $75 annual fee, so customers should make sure to take advantage of the rewards programs it offers, or the card may not be worth the price tag.
Hyatt Card Details:
- After your first qualifying purchase, spend 2 free Award Nights at any Hyatt destination - Bali, China, Dubai, and many more.
- Receive 1 Anniversary Award Night each year
- No foreign transaction fees, Smart Chip protection on international purchases
- 3 Hyatt Gold Passport points for every dollar spent at all Hyatt properties
- 1 Hyatt Gold Passport point for every dollar spent on purchases elsewhere
For customers who are unsure whether the $75 annual fee is worth it, Michael Germanovsky, editor-in-chief at Credit-Land.com, offers the following advice:
"While EMV Technology gives you great safety, one must not forget the costs associated with providing this technology, and how it transforms into new deals available for consumers. For example, Marriott Rewards Premier Credit Card from Chase does not have an EMV Technology, but it offers you an amazing 50,000 bonus points after first purchase, and no foreign exchange fees. The Hyatt card can hardly compete with Marriott 5 points on every dollar spent, and with no annual fee."
Marriott Card Details:
- 2 points for every dollar spent on eligible dining, airline and rental car purchases
- 1 point for every dollar spent on purchases anywhere else
- Unlimited Point Accumulation
- No annual fee
As always, consumers must look at their own needs, preferences, and habits when deciding which credit card is the right one for them - whether it is the new LivingSocial card, the high-tech Hyatt card, the no-fee Marriott card, or any other credit card on the market.
