Rocket Companies today released Rocket Rewards, a loyalty program empowering consumers to accrue points that can be redeemed toward various financial transactions across the Rocket platform.
With the launch of the first phase of the program, homebuyers can use reward points to save money on their closing costs, if, of course, they're financing their home purchase through Rocket Mortgage.
Clients at any phase of the home buying journey – even those months away from beginning the search for a home – can start gaining rewards by completing simple tasks. For example, those who create a free Rocket account and visit the rewards page or those with an existing account who complete their first rewards activity will currently receive a 7,500-point welcome bonus, the equivalent of $75, that can be applied to savings on closing costs.
Clients can also stack up reward points by completing a number of activities, including reading educational articles, watching informative videos available on the Rocket Mortgage learning center or using a mortgage calculator.
Rocket plans to expand the program in the coming months with new ways to bank points and additional redemption opportunities.
"Phase one of Rocket Rewards empowers consumers to gain knowledge and understanding of the home buying process while simultaneously accruing points, and ultimately money, that can help reduce costs when they are ready to buy a home," said Jenn Steeves-Kiss, chief experience officer for Rocket Central. "What's most exciting to me is that we are just scratching the surface of what's possible with a powerful rewards program inside the Rocket ecosystem – whether that is finding innovative ways to provide discounts toward personal loans, free premium Rocket Money subscriptions or even money off the installation of solar panels."
This is just Rocket’s latest client-focused program from the company, following their announcement of Inflation Buster, a program that reduces a home buyer's mortgage payment for the first year of their loan – providing some flexibility for the expenses that come with homeownership, especially the costs associated with inflation.
“Rocket Companies is known for delivering exceptional client service and the introduction of Rocket Rewards continues that trend – showing our appreciation for clients by offering incentives at various points throughout their financial journey," said Jay Farner, vice chairman and CEO of Rocket Companies. "We know not every client is ready to get a mortgage with us at this moment but, by banking rewards that can build over time, we are delivering a value-add no other lender in our space can match."
