Best Loyalty Programs of 2026, Ranked
What "best" means
A loyalty program is worth your email address only if it returns more than 3% effective savings on the spend you'd be doing anyway. Below 3%, the data they collect on you is worth more than what they give back. Above 3%, you're winning.
We ranked the major US programs by realistic 12-month earnings for a household that spends $1,000+/year at that retailer.
1. Amazon Prime — 5-7% effective
Prime is misclassified by most shoppers. The membership cost ($139/year) is offset by 2-day shipping savings alone within a few months. The actual rewards layer (4% on Whole Foods, 5% on Amazon.com with Prime Visa, occasional rotating categories) sits on top.
Worth it if: you order from Amazon at least twice per month.
2. Costco Executive — 4-6% effective
Executive membership ($120/year, $60 above the regular Gold Star) returns 2% on all Costco purchases up to $1,000. That alone covers the upgrade if you spend $3,000+/year at Costco. The gas-pump savings are an additional 5-15%.
Worth it if: you spend more than $4,000/year at Costco including groceries and gas.
3. Sephora Beauty Insider — 4-8% effective
Beauty Insider's Rouge tier (top tier, $1,000+/year) returns ~5% in points, plus genuinely valuable birthday gifts and exclusive event invites. The Insider tier (entry level, free) returns ~2% — still worth signing up.
Worth it if: you buy at Sephora at all. The free tier is a no-brainer.
4. Target Circle — 3-5% effective
Target Circle bundles a 1% back program with weekly personalized offers (often 10-25% off specific categories). The personalized offers are the value driver. Combined with a Target RedCard (5% off everything), effective return goes to 8-10%.
Worth it if: you shop at Target weekly. Skip if you go monthly.
5. Starbucks Rewards — 3-4% effective
A free drink every $50 in spending. The math works out to a 3-4% return. The convenience of mobile order pickup is the bigger pull for most members.
Worth it if: you buy at Starbucks 2+ times/week. Below that frequency, you'll forget about expiring stars.
6. Macy's Star Rewards — 2-5% effective
Free tier: a small return on every dollar. Platinum tier (top, $1,200+/year): 5% back plus free shipping, plus exclusive sale access. The extra Platinum benefits often unlock 25-40% off codes that aren't public.
Worth it if: you spend $400+ at Macy's per year.
7. Walgreens / CVS — 2-3% effective
Both pharmacy programs run weekly point-multiplier promotions that look generous (30% back!) but apply to specific SKUs you may not buy. Real-world earning is closer to 2-3%.
Worth it if: you fill prescriptions at the same pharmacy and want to consolidate.
8. Best Buy My Best Buy — 1-3% effective
Standard tier returns ~2% in points. Elite Plus tier (top, $3,500+/year) returns ~5% plus free shipping. The price-match guarantee is the more valuable feature.
Worth it if: you make a single big-ticket electronics purchase per year. Skip otherwise.
9. Kohl's Rewards — 2-4% effective
Kohl's Cash is the famous gimmick: spend $50, get $10 in Kohl's Cash to redeem during a redemption window. Effective return is 5-15% — but only if you remember to use the Cash before it expires (typical window: 2 weeks).
Worth it if: you can commit to a follow-up purchase within the redemption window. Otherwise the Cash expires and the rate goes to 0%.
10. Petco / Chewy autoship — 5-15% effective
Pet brands run aggressive autoship discounts (5-15% off recurring orders) plus loyalty points stacked on top. For a household with pets, autoship is the highest-ROI loyalty arrangement on this list.
Worth it if: you have pets and consume predictable pet products.
Programs that aren't worth your email
Most retailer email-only "rewards" programs (vague "exclusive offers" with no points system) aren't programs — they're just newsletters. Sign up only if the merchant matters to you. The data they collect from your sign-up is more valuable to them than what they send back.
How to use this list
Pick three programs that match where you actually spend. Save 4-6% on most of your discretionary online spending. Don't bother with the other seven — the cognitive cost of tracking them outweighs the savings.