In the world of retail, frequent shoppers are valued more than ever before. Each trip to the mall is an opportunity to make a purchase, which is why retailers are scrambling to keep up with the demands of their customers.
One of the most popular locations for retail therapy is Speedway, where customers can have their pick of brands from which to choose. This convenience for shoppers has led to a rise in the value of frequent flyers and memberships. With new technology driving further engagement and the opportunity to earn more rewards, how many points can you redeem at Speedway? Let’s find out.
Multiple Loyalty Programmes
In addition to the rise in retail therapy, the rise of digital commerce has led to a boom in the number of loyalty programmes enjoyed by consumers. With all the options of where to spend your money, why should you commit to just one loyalty scheme? With multiple programmes available at many locations, there’s bound to be something that suits your needs.
At Speedway, you’ll find a variety of loyalty programmes including:
- VIP Cards
- Gold Cards
- Platinum Cards
- Crystal Cards
These loyalty cards offer consumers multiple benefits. For example, the VIP card is valid at all the locations at the shopping centre and also offers members additional discounts. In addition, the gold card is also accepted at all locations within the centre, but offers members discounted shopping experiences.
The platinum card is the ultimate loyalty gift, providing all the benefits of the gold card alongside additional benefits at the exclusive brands the card is accepted at. Finally, the crystal card, finally, is only accepted at luxury retailers and offers members exclusive access to limited edition luxury goods and services. The advantage of these loyalty cards is that you can pick and choose the ones that suit your needs best without having to worry about which programme you should commit to.
Are Points Worth The Investment?
When deciding whether to invest in an additional loyalty programme at Speedway, you need to consider the value of the points you’ll earn. The more valuable the point system is, the more you’ll earn in return for your investment. Typically, the more valuable the point system is, the more attractive it is to potential fraudsters, so extra measures should be taken to ensure the security of your accounts.
Let’s analyse the relative values of these loyalty programmes at Speedway using the FICO Score 8.0 to compare the interest rates and fees charged by each loan provider. The results are displayed below:
FICO Score 8.0
The FICO Score 8.0 is perfect for comparing the relative values of the loyalty programmes at Speedway. The score examines six different attributes, including historical credit score, current credit score, credit behaviour, debt score, equity score, and recent credit activity. You can learn more about the score here. The FICO Score 8.0 ranges from 300 to 850, with 850 being the best rating. A FICO Score of between 400 and 700 indicates that you’re in a good place financially, while anything below 400 shows that you’re in a bad place.
Using the FICO Score 8.0, we’ll compare the rewards and benefits of each card and their value for money. First, let’s take a look at historical credit scores and see how these compare with the value of the points you’ll earn:
- VIP card (720 points): With a score of 720, this card is in a good place.
- Gold card (500 points): With a score of 500, this card is in a medium place.
- Platinum card (1000 points): At 1100 points, this card is in a great place.
- Crystal card (2000 points): The most valuable card at this location, the crystal card, has a 2000-point score. In other words, for every $100 you spend, you’ll earn $20 in rewards – not bad given the cost of living.
We can see that the historical credit scores of the loyalty cards are in line with their current values. This is good news for anyone considering an investment in one of these cards, as you’ll be able to determine exactly how valuable the points you’ll earn are based on your own credit history.
How Easy Is It To Use?
Now, let’s examine the ease of use of these cards. The simpler the better, especially if you’re not tech-savvy, as you may encounter issues if the systems are too complicated.
VIP card (720 points): The VIP card is fairly simple to use. All you need to do to earn rewards is to present the card at the checkout, scan it at the checkout scanner and follow the instructions. While the system is relatively easy to use and allows for some flexibility, there’s also the chance you may encounter problems if you don’t have a solid grasp of computers. If you do encounter problems, however, you’ll be able to get support from the relevant departments at Speedway.
The card’s design is also user-friendly. The front of the card has a magnetic stripe on which you’ll simply need to swipe your card at the checkout. On the back of the card, you’ll find more information regarding the various benefits of this programme, as well as the contact details of the support team at Speedway should you need assistance.
Gold card (500 points): The gold card is also a straightforward programme to use. All you need to do to earn rewards is to sign up to the card, which you can do at any time from when you make a purchase at one of the participating locations. Once you’ve signed up, you’ll receive a pack of cards to distribute amongst your friends and family. This card is great if you’re looking for an easy way to earn rewards as it is very user-friendly.
Like the VIP card, the gold card is also a good choice for anyone wanting to enter the world of retail loyalty. The main difference between the two is the gold card doesn’t offer the same flexibility as the VIP card. This card is only accepted at participating locations at the shopping centre and nowhere else. Furthermore, only certain brands offer rewards on this card, so you’re limited to what it is that you can redeem your points for.
Platinum card (1000 points): The platinum card is another easy choice if you’re looking to earn rewards. Simply put, all you need to do to earn rewards is to make a purchase at a participating retailer. Once you’ve made the purchase, scan the barcode on the packing slip at the checkout to confirm the receipt of the item and then present the card on the receipt. There’s no point accumulation on this card – all you need to do is make a purchase to earn rewards. This card is great for anyone who shops frequently at convenience stores and supermarkets as these are the most common places where the programme is accepted. If you do encounter any problems while using the programme, you can contact customer service directly through email.
Crystal card (2000 points): The crystal card is worth getting hold of if you’re a frequent shopper at luxury retailers. To access the range of brands and items the card is accepted at, you’ll need to make a purchase of $1000 above the minimum amount required to qualify for the reward. While there’s no fixed expiry date for the card, you’ll soon rack up a large number of rewards, which you can then use to make further purchases at the luxury retailers the card is accepted at. This card is also available to purchase as a gift item for someone special.
As we’ve established, the more valuable the point system, the more you’ll earn in return for your investment. If you’re considering an additional loyalty programme at this location, the key considerations are whether you can redeem the points you’ll earn for travel and how easy it is to use.