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I received one of those “exciting news is here” announcements from Starbucks. I glanced past it as it couldn’t possibly be true. But true it is. There are some changes in the Starbucks Rewards program and they are not very good.
The new Starbucks Rewards program is based on dollars spent, not on purchases. Instead of earning 1 Star per purchase, you will earn 2 Stars for every $1 spent. A free menu item is earned for each 125 stars earned, instead of the current 12 stars. Yuck.
There are some other changes, but here’s the basic chart:
125 Stars for a free cup of coffee …. 300 Stars to reach Gold….
Am I happy about this? No. I haven’t don’t the math, but the devaluation here seems large.
Will anything change? Assuming the prices don’t change radically, I’ll probably still go to Starbucks. And those who won’t go to Starbucks, probably still won’t. A lot will also depend on the frequency and extent of incentives Starbucks will give customers in the form of bonus Stars.
Presently, I earn one Starbucks Star for each 2.5 pound bag of Starbucks coffee I purchase at Costco. Will that earn 40 Stars (2 X $20) come April? No, according to the FAQ, a supermarket purchase of Starbucks Whole Bean & Ground coffee 28-40oz will earn 20 Stars.
Better drink up….
Editorial Note: The opinions expressed here are mine and not provided, reviewed, by any bank, card issuer, or other company unless otherwise stated.