According to financial product reporting from CNBC Select, the Samsung Galaxy Card launched on Wednesday, expanding a growing trend of electronics manufacturers offering co-branded credit cards alongside traditional retail, airline, and hotel issuers.
Samsung Galaxy Card Rewards and Fee Structure
According to CNBC Select data, the Samsung Galaxy Card charges a $0 annual fee and carries a variable regular APR ranging from 23.49% to 32.24%. The card features a tiered cash rewards system designed primarily for brand loyalists, offering 5% cash rewards on eligible direct purchases from Samsung, 3% cash rewards on transactions made using Samsung Wallet, 2% cash rewards on eligible streaming services, and 1% on all other purchases.
Pro Tip: Purchases made with the physical Samsung Galaxy Card earn only 1% cash back. To maximize the 3% return, cardholders must route their spending through Samsung Wallet at NFC-enabled terminals or online checkouts, according to CNBC Select.
Comparing Smartphone Credit Cards: Samsung Versus Apple
When evaluated against the Apple Card, the Samsung Galaxy Card offers distinct promotional incentives. CNBC Select reports that the standard Apple Card lacks a welcome bonus and does not provide special financing offers. However, the Apple Card offers interest-free financing through Apple Card Monthly Installments at checkout. Both products share common limitations: transactions executed with the physical card earn just 1% cash back, and neither digital wallet ecosystem is universally accepted.
Alternative No-Annual-Fee Cash-Back Cards
Consumers seeking simplified rewards structures can often secure superior baseline returns with traditional flat-rate credit cards, according to CNBC Select reporting. The Citi Double Cash® Card offers 2% on every purchase through an unlimited 1% when buying and 1% when paying structure, paired with a $200 cash-back welcome offer after spending $1,500 in the first six months. Similarly, the Wells Fargo Active Cash® Card delivers unlimited 2% cash rewards on purchases with a $0 annual fee and a $200 bonus after spending $500 in the first three months, alongside up to $600 in cell phone protection subject to a $25 deductible.
Frequently Asked Questions
What is the welcome bonus for the Samsung Galaxy Card?
According to CNBC Select, cardholders can earn $200 in cash rewards after spending $2,000 on purchases within the first 90 days of account opening.
Does the Samsung Galaxy Card charge an annual fee?
No, the card features a $0 annual fee, according to CNBC Select reporting.
What cash back does the Samsung Wallet purchase category earn?
Transactions made with the Samsung Galaxy Card through Samsung Wallet earn 3% cash rewards, according to CNBC Select.
How does the Apple Card reward everyday purchases?
The Apple Card earns 3% back at Apple and select merchants, 2% when using Apple Pay, and 1% on all other purchases made with the physical card, according to CNBC Select.
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