Saks to enhance loyalty with Elite credit card
Saks Fifth Avenue has expanded its SaksFirst loyalty programme by launching an HSBC-issued co-branded credit card, using the newly launched 'World Elite' luxury rewards card platform from MasterCard.
Created for the Saks Fifth Avenue customer, and offering high levels of service, benefits, and rewards, the Saks Fifth Avenue World Elite MasterCard provides an enhanced rewards programme that can be used at any of Saks Fifth Avenue's 54 stores throughout the US, and also at the 50 Off 5th outlet stores, at the Saks online store, and anywhere else MasterCard is accepted.
Loyalty link The new card maintains an affiliation with Saks Fifth Avenue's SaksFirstloyalty rewards programme, with added benefits. Customers who qualify for the card will be automatically enrolled in SaksFirst once they acquire the Saks Fifth Avenue World Elite MasterCard card (in contrast to having to spend US$1,000 in the calendar year on their current Saks Fifth Avenue card).
Earning points Customers earn up to 6% back in reward points on their Saks Fifth Avenue purchases, and 1% back on all other purchases. Points are converted automatically into Saks Fifth Avenue Electronic Gift Cards good for merchandise at Saks. Interestingly for a luxury credit card, there is no annual fee.
According to Joe Hoff, CEO of retail services for HSBC North America, "This card builds on the success we have had in growing the Saks private label card for years, and the good business relationship we have with MasterCard."
A complete description of the World Elite MasterCard platform - and its associated benefits (many of which are luxury travel related) can be found in The Wise Marketer's article of 11th September 2006.
For additional information: · Visit Saks Fifth Avenue at http://www.saks.com · Visit HSBC North America at http://www.hsbcusa.com