Chase/LivingSocial Card Blends Rewards and Daily Deals

Print
Email
Reprints
Comment
Twitter
LinkedIn
Facebook
Google+

JPMorgan Chase (JPM) is working with LivingSocial, a daily deals provider that competes with Groupon, to provide a credit card that rewards consumers for the money they spend on discounts.

LivingSocial provides locally targeted deals each day to its users. For example, a customer might use a LivingSocial deal to spend $15 for a $30 voucher at a nearby retailer. The new JPMorgan Chase credit card provides five points for every dollar spent on LivingSocial deals. It also provides three points for dining and one point for all other purchases.

Customers can then redeem every 100 points they earn for a dollar to spend on further LivingSocial deals.

"We are pleased to offer social-buying enthusiasts a product that enhances their shopping experience with the ability to earn rewards for their purchases," said Dan Dougherty, director of Chase Card Services, in a press release Tuesday.

Banks and vendors have been struggling to find the right balance between discounts and rewards. SmartyPig, a Des Moines-based online savings account provider, recently removed locally targeted discounts from its prepaid card. It instead provides a simpler cash-back reward, which it said is easier for its customers to understand.

JOIN THE DISCUSSION

SEE MORE IN

RELATED TAGS

'Dodd-Frank Is Like the TSA': Comments of the Week
American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and from our social media platforms.

(Image: iStock)

Comments (0)

Be the first to comment on this post using the section below.

Add Your Comments:
Not Registered?
You must be registered to post a comment. Click here to register.
Already registered? Log in here
Please note you must now log in with your email address and password.
Already a subscriber? Log in here
Please note you must now log in with your email address and password.