NEW YORK—The loyalty reward landscape just changed again, with American Express becoming the first to offer interchangeable loyalty points across multiple brands.
With a Plenti rewards card, users can earn one Plenti point for every $1 they spend at participating partners. Some of those partners include AT&T, Enterprise, Hulu, Exxon, Macy's and Rite Aid, with new companies expected to join the program in the future. Cardholders can earn loyalty points with any partner to use on discounts, special offers, and purchases with other partners in the program.
The benefits of the change, reported LowCards.com, is the versatility of the loyalty program. Most consumers don't spend enough money in one specific store to reap the rewards of a traditional store card. With Plenti, cardholders can earn rewards for paying the phone bill, filling up gas or renting a car. Then, they can apply those rewards to any partner store in the program.
Lowcards.com reminded that it’s important to note that Plenti itself is not a credit card, and functions more like a store rewards card that is swiped in addition to the payment card.
AmEx first announced the concept of Plenti last month, where American Express President Ed Gilligan said, "This is a perfect time for a coalition loyalty program in the U.S., as online marketing becomes more efficient and American consumers become more accustomed to rewards programs, special offers and discounts."
The new program follows Amex in February ending its 16-year relationship with Costco stores in the United States.