This isn’t your average loyalty scheme. Rebag has launched a membership program that may leave fans of the luxury resale platform wondering, what’s the catch?

“This is a program for customer retention, to drive members’ loyalty and reward that over time,” Charles Gorra, Rebag’s founder and CEO, told Sourcing Journal. “But it’s a lot more than a typical loyalty program; I think it’s occasionally referred to as paid loyalty.”

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Founded in 2014 as a destination for buying and selling luxury handbags, the resale company’s Rebag+ was made with a “melting pot of specific construct” for its consumers.

Offering an industry-first approach to resale, Rebag+ asks members to contribute a minimum of $50 a month (or $500 a year) to their Rebag “wallet,” so to speak. Every dollar is converted to R+ credit, which can then be used to buy something on the platform. Rebag also adds an “unprecedented” 2 percent monthly bonus to member contributions, increasing their purchasing power by up to 27 percent in 12 months.

The idea, Gorra said, is that the $50 isn’t a fee but instead a contribution, considering it’s redeemable as one builds out future benefits.

“It is not a cost, it’s a contribution because it’s an advance—I am committing to that spend, I am bringing funds in ahead of time,” he continued.

The program is flexible, too. Members can skip their monthly contributions, cancel, or request a refund of their R+ credit at any moment. But they may not want to, as members enjoy more exclusive benefits: up to 10 percent lower prices on all items, up to 5 percent increased seller offers, access to weekly new arrivals and sales as well as free shipping and returns. Plus, if canceled or refunded, that extra 2 percent accrued cannot be redeemed or exported.

“Let’s assume you get on the membership for six months. That’s $300. And then, God forbid something happens and you really need that $300—you can take it back, no problem,” Gorra said. “We’ve created this with no risk; you put the dollars there, let the benefits accrue and if something changes, just take it back.”

The ideal member has a future purchase in mind—a Louis Vuitton wallet, for example (the average listing for one on Rebag is about $650). If a member contributed $50 a month, they would achieve $684 in 12 months ($600 contributed by the member and an additional $84 added by Rebag).