I enjoy Starbucks as much as anyone else. While I don’t post photos of my drinks or visit it daily for my caffeine fix, I’m OK with paying $3 to $5 for a chocolate mocha or some other treat from time to time. The Starbucks credit card, however, isn’t something I’m going to buy.
And “buying” is what you’re doing when you sign up for a new credit card that charges for the privilege of using it and collecting its rewards. The $49 annual fee for the new Starbucks credit card is real money that will come out of your pocket — all so you can get 20 free drinks as a reward.
I only have a few credit cards in my wallet. Adding another one that offers minimal rewards for something I don’t use too often seems like a way to spend more money at Starbucks, along with increasing my caloric intake and possibly hurting my credit score.
For someone who visits Starbucks often and buys big-ticket items, the Starbucks credit card may be worthwhile. But that’s a big “may be” because they’re still getting only $100 worth of free drinks, though possibly more if they use it in every way possible to earn the most points. Continue reading