Sprint will take its branded credit card offering nationwide later this week, according to Wave7 Research.
Sprint Credit Card launched two years ago after the carrier announced a joint venture with Home Credit, a financial institution based in Amsterdam. It is currently offered in more than 500 Sprint retail locations, Wave7 said. Sprint plans to expand it to stores across the country at some point this week.
Sprint didn’t return a request for comment from FierceWireless. Wave7 reported in a note to subscribers earlier this week that Sprint plans to offer free basic subscriptions to Hulu to customers with unlimited plans; the carrier declined to reply to questions regarding that topic as well.
While financial terms of the joint venture haven’t been disclosed, the Sprint-branded credit card is clearly designed to build customer loyalty and to encourage users to spend money. It offers no interest and double points on Sprint purchases during the first year, and users can earn rewards toward Sprint accessories, phones and their service bills.
Also, as Wave7 pointed out, the Sprint credit card could boost the number of customers on autopay, ensuring they pay without having to send reminders via text or automated calls.
The alliance with Sprint marks Home Credit’s initial effort to reach U.S. consumers, and while Home Credit U.S. is based in Delaware, the joint venture operates out of Sprint’s headquarters in Overland Park, Kansas. The market research firm also noted that the joint venture is hiring for 12 positions out of that office.
“In a first of its kind partnership with Sprint, we’re providing financing to customers who value advanced mobile communications that connect them to things that matter most,” according to a page on the website of Home Credit U.S. “This is our first step in providing innovative solutions to the U.S. market.”