81% of bank customers today expect certain benefits and rewards in the form of a loyalty program according to a study by CGI. Thus banks utilize loyalty programs as an important marketing tool to acquire and maintain customers and keep them engaged.
PointCheckout put together a compilation of the top reward programs in Jordan and ranked them based on the following:
The different programs are not necessarily ranked from best to worst, this is meant to be an indication of the differences between them.
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Ease of joining the program: 3 stars
CAB customers need to sign up separately for the reward program, and only Mastercard credit card holders are eligible for joining the reward program. That limitation and additional step earn CAB rewards a 3-star rating.
Variety of points earning methods: 2 stars
Earning points is restricted to spend on the two credit cards issued MasterCard World and MasterCard World Elite, although it is generous with 2% of the equivalent spend given in points. The low star rating is because of the card only earning limitation, at 2 stars.
Redemption Options: 5 stars
Cairo Amman Bank redemptions are so flexible they earn all 5 stars. Members can redeem at the CAB rewards store for flights, hotels, electronics and hundreds of items, including cashback, donations, and point transfer. In addition, CAB rewards are part of PointCheckout, the online payment gateway for loyalty points, where CAB rewards members can redeem on over 30 online stores in Jordan.
Total: 10/15 stars
Ease of joining the program: 3 stars
JKB members need to sign up separately to enroll in the program, thus that earns it also a 3-star rating.
Variety of points earning methods: 3 stars
Earning points is based on spending on credit cards, with two different rates: 1 point per JOD spent under 500 JOD, with 2 points per JOD for all purchases more than 500 JOD. Withdrawing money from the credit card would also earn 2 points per JOD, and the highest being interest incurred on the card giving 6 points per JOD. The generosity of points earns 3 stars, limited by the fact it is only on cards.
Redemption Options: 4 stars
JKB reward redemptions earn a 4 star due to their flexibility in spending, as the highlight is a cashback program on any purchases, simply convert your points to credit after any purchase through the app ( Android or IOS ) It is worthy to note that cashback is not an option for JKBRewards members.
Total: 10/15 stars
Ease of joining the program: 4 stars
Automatically enrolled by opening an account and issuing a credit card.
Variety of points earning methods: 5 stars
Arab Bank lets members earn Arabi Points based on their banking relationship as follows:
Redemption Options: 2 stars
The generosity in earning is not matched with the redemption options however, as it is limited to vouchers from merchants such as Manaseer, Carrefour, CityMall and several others, earning a mere 2 stars.
Total: 11/15 stars
want to know more? here all you need to know about the “Arabi Points” Program from Arab Bank
Ease of joining the program: 2 stars
Just earning 2 stars, members can join the reward program through signing up separately, however, members need 3 banking relationships to enroll (credit cards, savings account, and loan for example).
Variety of points earning methods: 5 stars
Etihad Ultimate Rewards allows members to earn on debit card purchase (1 point for each 2 JOD) and credit card transactions (2 points per 1 JOD). In addition, deposits earn members points according to the following list:
Furthermore, online transfers through the mobile app earn members 5 points for transfers under 500 JOD, 10 points for transfers between 500 and 1,000 JOD and 25 points for transfers over 1,000 JOD. The full relationship loyalty offered by Etihad Ultimate Rewards program gets them full stars on this category.
Redemption Options: 5 stars
Etihad Ultimate Rewards also gets full stars for the redemption options, with many choices offered to members including a full reward store to buy flights and booking holidays, electronics, fashion items, etc. Moreover, their use of the open redemption network of PointCheckout gives their members the ultimate flexibility to spend on additional items they love from merchants such as Talabat, the Cakery, AmmanCart.com and many more.
Total: 12/15 stars
know more about the “Ultimate Rewards” Program from Etihad Bank
Ease of joining the program: 4 stars
The bank automatically enrols customers in this program as soon as they issue a debit or credit card.
Variety of points earning methods: 3 stars
Customers can earn coins for local or international purchases, as follows:
Credit Cards
Debit Cards
Redemption Options: 3 stars
Customers can redeem ISKAN COINS through the bank’s rewards website or contact the Bank's customer service. They can redeem points for:
1. Electrical and electronic products from Leaders
2. Car rental from SIXT.
3. Cashback at a rate of 2000 coins- 20 JD and every 5000 coins= 50 JD. Upon redemption, the amount will be added to the card account directly.
4. Vouchers from major retailers. the list is available at the Housing Bank Rewards website.
Total: 10/15 stars
Read All Details about "ISKAN COINS" Rewards Program from the Housing Bank in JordanWith most banks offering some form of reward and loyalty programs, the competition to give the customer the best service is heating up, and PointCheckout is a prime partner to increase redemption and customer satisfaction and retention. Get in touch to know more about how we can help.
You can read about the Top 5 Reward Programs in the United Arab Emirate’s Banking Sector