Samsung has spent years trying to convince consumers that its Galaxy phones can do everything an iPhone can do, often with a few extra tricks thrown in. Now, the company is following Apple into another part of people’s lives: credit cards.
The Samsung Galaxy Card is the company’s first credit card program in the United States. Barclays will issue the card on the Visa network, while Samsung will integrate it directly into Samsung Wallet.
Yes, the comparison with Apple Card is hard to avoid.
Apple launched its own credit card in 2019 and made the iPhone central to the experience. Samsung is now using a familiar playbook by tying a branded financial product to its smartphones, mobile wallet, and broader hardware ecosystem.
That does not mean Samsung has produced an exact Apple Card clone. The Galaxy Card has a different issuing bank, rewards structure, payment network, and target audience. Still, the basic strategy looks awfully familiar: use a credit card to make existing customers even less likely to leave.
The Samsung Galaxy Card has no annual fee and offers 5 percent cash rewards on eligible purchases made directly from Samsung in the United States. That could include Galaxy phones, televisions, monitors, appliances, and other products sold through Samsung’s website or retail stores.
Cardmembers will also earn 3 percent on qualifying purchases made through Samsung Wallet, 2 percent on eligible streaming services such as Netflix, Disney+, and Spotify, and 1 percent on everything else.
The 3 percent Samsung Wallet reward is easily the most interesting part of the offer. Instead of limiting its better cash-back rate to groceries, restaurants, or gas stations, Samsung is rewarding people for using its payment platform.
For Galaxy owners who already tap their phones to pay, that could cover a large amount of everyday spending. It also gives them a financial reason to choose Samsung Wallet over Google Wallet.
Of course, the complete terms will determine how useful that 3 percent rate really is. Samsung’s announcement does not explain every exclusion or unusual transaction category. Consumers should check whether online purchases, recurring payments, gift cards, taxes, person-to-person transfers, and payments handled by third-party processors qualify.
Samsung says approved applicants can have the card added instantly to Samsung Wallet. That means they may be able to begin making purchases before the physical card arrives. Account management will also take place through a compatible Galaxy device.
“Samsung Galaxy Card is part of our ongoing vision for Samsung Wallet to deliver more connected and rewarding everyday experiences,” said Woncheol Chai, EVP and Head of the Digital Wallet Team at the Mobile eXperience Business at Samsung Electronics. “Collaborating with like-minded partners, such as Barclays, is what made Samsung Galaxy Card possible. This marks yet another milestone in the evolution of Samsung Wallet and mobile payments, offering a new solution for busy users who want cash rewards whether they’re running errands or purchasing the latest Galaxy devices.”
New qualifying cardmembers can earn a $200 cash rewards bonus after spending $2,000 within the first 90 days of opening the account. That works out to roughly $667 in monthly spending during the introductory period.
The company will also give cardmembers a 20 percent discount when they use the card to purchase or renew a Samsung VIP Advantage membership.
The 5 percent Samsung reward could add up quickly for someone buying an expensive television, appliance, or foldable phone. A qualifying $2,000 purchase would generate $100 in cash rewards, although shoppers should still compare Samsung’s direct price with competing retailers before getting distracted by the percentage.
“Partnering with Samsung is a strong example of Barclays’ partner-first strategy and the innovation we’re bringing to the market with some of the world’s most recognized brands,” said Denny Nealon, CEO of Barclays US Consumer Bank. “Together, we’re creating seamless, rewarding digital banking capabilities and products that meet customers where they are, in their Samsung Wallet, and fit naturally into how they live, shop and connect.”
The Samsung Galaxy Card may look like a rewards product, but it is also another tool for customer lock-in.
Someone who owns a Galaxy phone, uses Samsung Wallet, subscribes to Samsung services, and regularly buys Samsung hardware could find plenty of value here. That same customer will also have another reason to think twice before moving to an iPhone or even switching to another Android manufacturer.
Apple has long understood that keeping consumers inside an ecosystem involves more than selling hardware. Services, payments, subscriptions, cloud storage, and financing can make leaving inconvenient. Samsung clearly understands that lesson too.
Applications for the Samsung Galaxy Card open July 22 through Samsung’s U.S. website.
For loyal Samsung customers, the rewards may make the card worth considering. Just do not mistake cash back for free money. Anyone who carries a balance could quickly lose far more to interest than Samsung ever pays in rewards.
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