The new Starbucks Visa Credit Card is open to apply just right now!
Let's take a look at its benefits and then you decide if it is worth of applying.
Benefits:
- you would get 2500 stars when you open this credit card, which equals to almost 20 food or beverage rewards.
- you would get 1 star for 4 dollars when you spend outside Starbucks stores.
- you would get 3 stars for 1 dollar when you spend inside Starbucks stores.
- you would get your 8 Barista Picks, which is still a secret to the public.
- your Starbucks account would be free upgraded to gold level.
Costs:
- there is a 49 dollars annul fee to hold this credit card.
- you have to spend 500 dollars in the first 3 months from account opening to get this very first 2500 stars
- of course there is a hard pull when you apply any credit card.
Let's do the math, every 125 stars you can get a free food or drink, which means you have to spend 500 dollars outside Starbucks stores or 41 dollars inside Starbucks. You can use the 49 annual fee to buy 8 drinks if every drinks cost 6 bucks. While 6 free drinks would cost you 3000 dollars to spend in order to get enough stars.
In my opinion, you could open this credit card only for one year for the open reward, which is one time reward. After one year, it is not worthwhile to hold this card.
Maybe some coffee fevers are interested in this card or just a fan of Starbucks would consider to apply. Me in person, think applying this card is not a good idea.