News Banks and cards
Kroger ends its rewards credit card
The co-branded card is closing; the free Kroger shopper rewards program, where members earn and redeem points, carries on.
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Kroger’s co-branded rewards credit card is ending, and existing accounts are moving to the U.S. Bank Smartly Visa. Kroger’s shopper loyalty program, where customers earn and redeem points, continues.
Cardholders lose the Kroger-specific perks. The old card paid 5% cash back on the first $3,000 of eligible Kroger Pay purchases each year and an extra five cents per gallon at Kroger Fuel Centers. The replacement card pays 2% cash back on eligible purchases, and converted customers get 3% back on grocery and gas in their first 12 months, according to media reports cited by ConsumerAffairs.
No new application is needed. Replacement cards go out between August and October, and balances, credit limits and earned rewards transfer automatically.
For retailers, the story is a reminder that a co-branded card and a loyalty program are separate contracts: one can end while the other carries on, and members need to hear that clearly.
Source: ConsumerAffairs.