Customer Relationship Management is gaining importance for a variety of reasons, such as the strong competition among producers and/or retailers. Within Customer Relationship Management, customer retention, customer satisfaction and customer loyalty have become the focus of attention, whereby research has shown that customer satisfaction, and thus customer loyalty is, among others, influenced by the perceived un-/fairness of customer loyalty programs. Therefore, this master thesis examines the effects of the un-/fairness of loyalty programs on customer satisfaction. More concretely, the impact of the perceived distributive, procedural and interactional un-/fairness on customer satisfaction with a company's loyalty program and on their satisfaction with the company itself is analysed. Moreover, to address intercultural differences, the mentioned effects are studied in two different countries: in Austria and in Bosnia/Herzegovina (BiH). The survey was conducted in Graz and in Banja Luka (BiH) and regression analyses was used for testing the hypotheses. The findings showed that the perceived procedural and interactional un-/fairness have a significant influence on customers' satisfaction with a company's loyalty program and/or that the perceived distributive, procedural and interactional un-/fairness have a significant influence on customers' satisfaction with the company itself. With respect to culture, the cultural dimension individualism/collectivism mostly differentiated between respondents from Austria and those from BiH. The results revealed that the perceived distributive un-/fairness exert more impact on customer satisfaction with a company's loyalty program in a collectivistic culture.