GoKawiilFirst look: Samsung has introduced its first branded credit card in a bid to compete with a similar offering from rival Apple. The new Samsung Galaxy Card is billed as an easy way to earn kickbacks on everyday purchases, with even higher rewards for purchasing products made by Samsung.
The company's first credit card will be issued via Barclays US Consumer Bank over the Visa network. It'll be available as a fully virtual product, although a physical metal card is also available in black featuring Samsung branding on the front.
Card perks include 5% cash back on eligible purchases directly from Samsung, 3% cash rewards on purchases made using Samsung Wallet, 2% rewards from streaming services such as Netflix, Spotify, and Disney+, and 1% back on everything else. Cardholders will also enjoy 20% off a subscription to Samsung VIP Advantage, the company's premium rewards program that normally sells for $149.99 a year.
While it's not surprisingly to see Samsung launch a payment card, it is a bit strange that it took so long to get here. Apple started processing applications for its first credit card way back in August 2019, nearly seven years ago. According to at least one report, Apple explored launching a credit card in the late 90s but then CEO Steve Jobs shot down the idea as he didn't like the idea that some customers would get rejected for the card. The idea was revisited in 2004 but didn't materialize because Apple couldn't secure the terms they wanted for the card.
Interested parties can submit an application starting July 22 either online or at any Samsung retail store in the US. As an added bonus, cardholders that charge at least $2,000 on the card within the first 90 days will receive $200 in bonus cash. Samsung is set to host its next Galaxy Unpacked on the same day. If you've been considering a new Samsung foldable, putting it on the new Galaxy Card could be a quick way to potentially save some money on what's sure to be an expensive handset.