You may be asking yourself, what is loyalty program? Companies create loyalty programs to increase brand loyalty with their customers. In a competitive marketplace companies know you have options when you go shopping. They want to help you find the best deal while still earning your business by [participating in their programs. Loyalty program defined: a member’s only group that provides rewards to encourage customer loyalty. For example, American Express has a loyalty rewards program that offers cash and point based rewards. If you use your American Express card on vacation you may get 20% off your hotel stay, a free rental car and even perks like discounted concert tickets.
However, loyalty programs can sometimes be hidden and hard to find. Are you registered in a loyalty program that you don’t even use? Rewards programs are many times offered through credit cards, social applications, nonprofit groups and auto insurance programs. All loyalty programs are different, offering different benefits and different reward structures. Some companies offer cash, others give company credit and some have a point system.