There are many different credit cards available all with different terms and conditions. In addition there are a number of reward point cards that offer you the opportunity to build up points to redeem at various shops. These are sometimes referred to as shopping cards.
A reward point card works in exactly the same way as any normal credit card. You use it in exactly the same way. Each month you will receive your bill and will have to pay at least the minimum amount off the outstanding balance. The main difference is every time you use a reward point card you will get points or cash back which can be used to obtain vouchers or be redeemed at certain shops.
The simple answer is no, although in some cases your existing card may allow you to register for the scheme operated by the issuer.
Yes. The transaction when using a reward card is handled in exactly the same way as any other transaction. With reward cards issued by the banks operated by major supermarkets, you may get a higher number of points for using the card in that particular supermarket than you would using it in any other shop.
It depends on the card. With some, you will only get points in certain places. A promotional sticker near the entrance or till should show that the shop is participating in that particular scheme.
No, points are not given when drawing cash, as this is a pure banking transaction. You should also remember that drawing cash will attract interest immediately even if you pay your bill in full each month.
Yes. Depending on the issuer, often points can only be spent in certain shops or on certain services. With some reward points you may be able to reduce the bill at the checkout at certain shops.
Usually the cost is exactly the same as a normal card from the issuer.
No. There are some banks that offer a number of different credit cards and only some of these are reward point based.
So, what do you need? You need now is a Reward Program for your store. And I suggest you use Magento 2 Reward Points | Reward Point System - Loyalty Program extension - Mageplaza. Reward Points by Mageplaza is a great extension help you create a Reward Program and boost your sales.
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