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If you are a cardholder of the Starbucks® Rewards Visa® Card, you’ll soon have your credit card converted to the Chase Freedom Unlimited®, as first noted by Doctor of Credit. The Chase partnership with Starbucks is ending, and the credit card wasn’t as successful as the companies thought it would be at launch, so the card is being discontinued and cardholders will be automatically converted to a new card.
Starbucks Visa Card To Be Officially Discontinued
The card primarily awards Starbucks Stars and other related rewards for daily spending on the card. The more you spent, the more you were rewarded with free drinks and food at Starbucks. Unfortunately, the concept didn’t really catch on with consumers, and Chase closed the card to new applicants in June of 2022. The card will now be officially discontinued and current cardholders will be converted to the Freedom Unlimited card.
Here’s how Chase notes several important elements of the conversion process:
- If you’re already a cardholder, your account information, including account number, travel benefits, and insurance coverage, will remain the same.
- Once your new card is issued, you’ll get a new expiration date and security code.
- The Freedom Unlimited card everyone is being converted to has no annual fee, and users that had an upcoming annual fee on the Starbucks card will have a prorated refund returned.
- Purchases made before July 20, 2023, will continue to earn Starbucks rewards. Everything after that date will earn cash-back.
- Any Starbucks Stars in your account as of July 20, 2023, will not expire until August 2024, so you’ll have about a year to use them.
The Freedom Unlimited card allows you to earn 5% cash-back on travel purchased through Chase Ultimate Rewards, 3% cash-back on dining at restaurants (including Starbucks!) and drugstore purchases, and 1.5% cash-back on everything else you buy.
Hot Tip: Learn more about the most valuable benefits of the Freedom Unlimited card!
If you’re a current Starbucks Visa cardholder, your card will soon be converted to the Freedom Unlimited card where you can earn 1.5% cash-back minimum on all purchases. Likely this is a much better offer than earning Starbucks Stars, though fortunately, you’ll have about a year to use those once the card officially closes in July 2023.
The information regarding the Starbucks® Rewards Visa® Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
Featured Image Credit: Starbucks
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