LoanPro's card rewards give you a powerful tool to shape not just cardholders’ purchase behavior, but also engagement and on-time payments. Rewards are currently available in the platform but they’re still a work in progress, so not all features have UI tools built out yet. In the meantime, you can reach out to your regular LoanPro contact to get started configuring and launching your rewards program.

Reward earning and redemption calculations

The rewards engine supports multiple earning triggers with configurable rates and modifiers. In addition to a standard flat rate, rewards can be amplified based on spending data, repayment activity, or other behavior.

Here’s how those rewards and bonuses might work together:

• Standard purchase rewards. A cardholder has a base earning rate of 0.50% on all purchase transactions, with points calculated on transaction amounts before fees or interest.
• MCC Category Bonuses: Transactions with specific merchant categories earn rewards at a higher rate. For example, an additional 0.25% (total 0.75%) for utilities MCCs, including 4900 (electric, gas, and water), 4814 (telecommunication), 4899 (cable and television), and 4816 (computer network services).
• Payment Incentives: On-time payment rewards generate 0.50% back on payment amounts, encouraging consistent repayment behavior and reducing delinquency risk.
• AutoPay Enrollment: Cardholders enrolled in an AutoPay get monthly reward amplifiers, such as 0.25% additional earning rate, applied automatically to qualifying accounts.

Points accrue in real-time, and are immediately available to be redeemed. Regardless of how the points were earned, each is worth $0.01 in redemption value, with calculations rounded first at transaction amount, and then at the calculated reward points. 

For example, a $20.00 purchase at the base rate (0.50%) would earn 10 points, a $0.10 value. But that same $20 purchase in a MCC that earns bonus points (0.75% total rate) would earn 15 points, a $0.15 value. And if the cardholder is up to date on their payments and enrolled in an AutoPay, they would earn even more.

Configuring rewards

Points accrual and redemption settings can be configured at the program level or account level. As mentioned above, the UI tools for managing rewards are still being developed, but slated for release in the coming months. When that happens we’ll be quick to update our documentation, but in the meantime you can reach out to your regular LoanPro contact to configure and launch your rewards program.

At the account level, rewards currently can also be managed through the API. You can view rewards transactions and balances, directly update balances, redeem rewards, or forecast future redemptions.

Redeeming points

Points can be redeemed through several channels:

• Automatic redemption. Points convert directly to account credits applied against outstanding balances, providing immediate value to borrowers.
• Agent assisted. Customer service agents can redeem points directly in LoanPro, with streamlined tools to condense this and other common processes into one-click solutions.
• Cardholder controlled. Cardholders can access balances, view earnings breakdowns, and redeem points through LoanPro’s customer portal or your own website or application, integrated via our API.

In any case, redemption can be tied to access controls, with redemption eligibility tied to account data like delinquency or account closure status. 

Within a line of credit account, navigate to Servicing > Rewards. There you’ll see a summary of the points accrued, earning rates for swipes and payments, and the dollar value for each point. Below, you’ll see a history table showing past redemption.

Clicking the black Redeem Points  button will bring up this window:

Beneath the point total and value per point, it calculates the total dollar value the account has available. Enter a value up to that limit, write an optional description, and click ‘continue’. 

Reporting

LoanPro provides detailed reporting capabilities for program management and financial reconciliation.

• Rewards accrual and redemption enabled. This report offers an account-level configuration overview showing whether an account is able to accrue and redeem points.
• Rewards earning report. The rewards earning report gives a transaction-by-transaction breakdown of how many points were earned and what bonuses amplified their accrual.