The dominance of credit cards, nowadays, is more than ever before and the supermarkets are also joining the bandwagon for profits. These hyper markets have introduced the concept of retail rewards credit cards and due to their active promotion and adoption of several effective strategies, the idea is getting popular increasingly. Even in Australia, the idea has become common and two largest grocery stores of the country have started offering retail rewards credit cards. Needless to say, this offer to shoppers considering the credit crisis has made the markets more popular.
By means of offering special promotions and free interest periods, the stores are getting more customers and increasing loyalty. Apart from groceries, these stores also sell also clothing, gasoline and electronics.
Take for instance the retail rewards credit cards of Woolworth’s. The card is playing a dual role, both as a standard retail credit card and as a store card. Thanks to this and as soon as the card is used during promotional events in the store, the cardholder is getting additional privileges and discounts. For instance, Woolworth’s will make longer two points when spent in their store and 3 points when you pay for select products. These points can be used toward shopping gift vouchers.
There is also another great aspect. The customer, on account of the card, can make use of the store checkout to make card payments and check his available credit balance. Apart from this, the bank offers to give up the annual fee of $49 for the first year you have the card and offers an APR of 18.99%.
The next store is Coles Myer and the group includes KMart, Target and Coles. This retail rewards credit card also do play dual roles, as a store card in addition to a Mastercard in retail stores. But there is a slight difference. The greatest aspect of this card is fuel savings and whenever the customer expends $30.00 in any store he obtains a 4 cent savings per litre. Another 4 cent reduction is rewarded whenever he spends $30.00 at participating outlets.
