Samsung Electronics Launches First Credit Card in US, Taking on Apple Card
No Annual Fee Credit Card Launched with Barclays and Visa
Up to 5% Cash Rewards on Samsung Product Purchases
Samsung Electronics is launching its first branded credit card in the US market, taking direct aim at the Apple Card.
Samsung Electronics' 'Samsung Galaxy Card' launched in the United States. Provided by Samsung Electronics
View original imageOn July 20 (local time), Samsung Electronics announced the launch of the ‘Samsung Galaxy Card’ credit card program for US consumers. The card is based on the Visa network and is issued by Barclays US Bank.
The card is optimized for use with Samsung Wallet. It is designed to allow users to conveniently manage every step, from applying for the card on their Galaxy device to making payments and managing reward accumulation. The premium metal material adds a touch of luxury.
Cardholders will receive benefits when purchasing Samsung products such as Galaxy smartphones, TVs, and home appliances, as well as top-tier cash rewards for everyday spending in the US market. Specifically, users earn 5% cash rewards for purchases made through Samsung's official online and offline channels, 3% for payments via Samsung Wallet online or offline, 2% for streaming service payments, and 1% for purchases made using the physical card.
Additionally, 20% discounts are available for VIP members of the US Samsung.com website. New customers who spend over $2,000 within 90 days of issuance will receive a $200 cash reward. Once issued, the card is registered with Samsung Wallet immediately, and there is no annual fee. Applications for the card will be accepted starting July 22.
This launch by Samsung Electronics is seen as an effort to target the US market and counter Apple. Apple previously launched its own credit card in 2019 in partnership with Goldman Sachs and Mastercard.
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A Samsung Electronics official stated, “We continue to provide innovative experiences that make users’ daily lives more convenient,” adding, “The Samsung Galaxy Card is a new service that expands the Samsung Wallet experience. It will enable consumers to enjoy various benefits, not only when purchasing Samsung products, but also in everyday payments.”
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