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Isracard cashback news: Will the new cards change the rules? - Walla! Of money


Isracard is launching two cards with the highest cash return in the industry and will allow joint family accumulation for the first time in Israel

The new card that will also allow family accumulation, Isracard's CashBack+ (Photo: Public Relations)

News in the credit industry?

CashBack+ and Premium CashBack cards will allow customers to accumulate and receive money back according to the volume of purchases they make with the card at an unprecedented rate of 1.35% and 1.6% respectively.

This, while the other cards on the market allow a refund of only up to 1% in the first year.

(The cards are non-bank cards and provide an additional frame).

The accumulated amounts can be redeemed using a digital gift card at any time and with one click.

Isracard is challenging the credit card market and launching Isracard's and MasterCard's CashBack+ card and American Express' Premium CashBack, which offer the highest cashback accumulation among the credit card companies.

In addition, for the first time in Israel, the new cards will allow joint family accumulation for refunds from several cards together when they are linked to the same bank account, with simple digital accessibility to redeem the funds accumulated on the cards in hundreds of businesses, fashion, food and tourism chains.

Receiving the high rate of return is conditional on making purchases of over NIS 7,500 per month on the CashBack+ card and over NIS 10,000 on the Premium CashBack card.

Premium CashBack credit card, American Express (photo: PR)

promises a "revolutionary innovation" with family aggregation

As part of joining the routes offered by the new cards, an exemption from card fees will be granted (for transactions of NIS 500 or more per month) for the first year. The card fees for the second year will be NIS 15.90 for the CashBack+ card and NIS 29.90 for the Premium CashBack card. On the occasion of the launch, a gift will be given on both

cards Joining for NIS 75 (for purchasers with a minimum of NIS 5,000 for three consecutive months).

To allow as many customers as possible to reach a high level of accumulation, the company will offer a revolutionary innovation in the market: joint family accumulation. When several cards are associated with the same bank account, it will be possible to reach the higher level of accumulation Fast together. For example: if one card made purchases for NIS 4,000 and the other card for NIS 3,500, the refund percentage for both cards will be considered the same as for one card that accumulated NIS 7,500. In this case, both cards will

benefit from the highest credit rate even when it comes to a pair with one Isracard card and another American Express card.

The accumulated money can be redeemed with an Isracard digital gift card at any time and with one click using the Isracard app and the American Express website.

The launch of the new cards is another step in Isracard's change process over the past year and part of its growth accelerators, including a new branding move with the message "Isracard enables an opportunity for an opportunity", which expresses the company's ambition to be a generator of opportunities in a variety of fields for both its business and private customers in order to enable them to grow economically .

According to Ran Oz, CEO of Isracard

: "CashBack+ and Premium CashBack cards are expected to change the rules of the game in the industry and give customers the best value proposition among the credit cards available on the market today.

With the highest cash back rate of all and the possibility of joint family accumulation that maximizes the amount of the return, I believe they will be the leading cards that customers choose to use."

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Ran Oz, CEO of Isracard: "The new cards are expected to change the rules of the game in the industry" (Photo: Fazit Oz)

"Suitable solutions for the era of the high cost of living"

According to Amit Sagi, Vice President of Marketing and Data at Israchart

: "In an era when the cost of living is rising and managing household expenses is of interest to every household in Israel, then the world of credit cards also needs to reinvent itself and produce solutions that are suitable for the current behavior of millions of people and hundreds of thousands of households "

Despite the many changes in the way we conduct ourselves, including many types of families, in the world of credit cards only a personal card remains, therefore the cracking of joint family accumulation allows for the first time a more correct management of all expenses in a household and not just in a personal way for the card holder."

Amit Sagi, VP of Marketing and Data at Bishrachart (Photo: Tami Bar Shai)

"Customers want certainty"

"We see that the customers want a clear and direct value proposition, something they can quantify and understand (unlike with benefits where it's hard to understand what I'm getting and what the monetary value of each and every benefit is) and in cash back it's very clear - how much you spent and how much you'll get back."

"After research and many focus groups, we believe that customers want certainty, cards that they can concentrate their expenses on and know for sure that the more they spend, the more they will receive, and this is what the joint family savings makes possible. Today's customers are no longer satisfied with a functional card, they also want a clear and direct return" .

  • Of money

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  • consumption

  • finance

  • Credit Card

  • credit cards

  • Isracard

  • Cashback

Source: walla

All business articles on 2023-02-21

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