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Loyalty Program
The city in which I’m currently living in has loyalty program where if I buy a member card (with money), I receive a fixed percentage (10%) of amount I spent on buying the member card, each month. The fixed percentage is in the form of points that I can spend only on specific vendors.
When I want to cancel the membership, The program deducts the same percentage (10%) of amount and returned the remaining amount.
For example:
I bought the membership with 100$.
Now each month I receive 10% of 100$ i.e. 10 points (1 point = 1 $)
When I want to cancel, the program deducts 10% of 100$ and give me 90$
My question is about the 10% I’m receiving each month: Is it SOOD?
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1 Reply
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Loyalty Program
updated 12 months ago
2 Members
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1
Reply
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Sood or interest is in the case of loan money when additional money is demanded on it. There is no loan involved in it. It is a kind of incentive so that you may use your card to shop at some specific vendors to enhance their business for which you are given a favor too.
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