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Pay the Best Way

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This tip only works if you use a credit card that pays rewards points for food purchases and you pay your credit card bill in full each month.  Do you know if any of your credit cards pay double rewards points for everyday purchases such as food and gasoline?

 

Credit Cards

 

Even if your credit card company does not pay double points for groceries, at least use a credit card that rewards you some way when you buy your groceries; whether it is “cash back” that you can apply to your credit card bill or single rewards points that you can redeem for gift cards when you meet the required points.

If you are interested in this tip, but do not have a credit card that rewards you for making purchases, consider getting one.  Just be sure to do your homework before you sign up for any credit card.  Below are some suggestions to research to find out which credit cards provide the most benefits.

  • No annual fee
  • Know what the APR will be (lower APR is better)
  • Be sure there is no minimum amount that you need to spend before you earn rewards
  • Be sure the rewards points or cashback is built into the credit card rather than an introductory offer
  • Decide if you will benefit the most from cash back or rewards points
    • Find out what you can get with rewards points.  If you have no interest in any of the rewards, then consider a credit card that pays cashback (that you can use on anything)
  • If the credit card doubles rewards for items such as groceries or just provides single points.  What types of products or services points can you earn points?
    • Ideally, you want a credit card that provides points or cashback on ALL purchases
    • Icing on the cake would be a credit card that provides points or cashback on all purchases and also doubles points or cashback on certain items such as groceries

This is where you must be disciplined.  You must pay your credit card bill in full every month PRIOR to the due date so that you do not pay interest fees. Otherwise, the money you save will be spent on interest.

Below are some website comparison tool suggestions that you can use to complete your research.

Always check several websites to satisfy yourself that the rewards or cash back are the same no matter which website you use.  Also, research whether it is best to contact the credit card company directly or to use the credit card comparison website to sign up.

If your credit card balance is so high that you cannot pay it in full every month, then save this tip for when you do can pay your credit card balance in full every month.  There are other ways to earn rewards points and cash back.

Discount Gift Cards

  1. Log onto a cash back rewards program that you are registered with and then to a company that sells discount gift cards.  If your cash back program does not offer cash back for any discount gift card companies, then use what my family calls: “creative accounting”.
    • You can earn points when you buy a gift card for any store that you would buy clothes, school supplies, etc. (Kohl’s, Staples, Macy’s, etc.)
    • Buy your clothes, school supplies, etc. with the gift card. You will not pay any more money by using a gift card; however, you will earn points when you buy the gift card.
    • Use the money that you would have spent for those clothes, school supplies, etc. for your groceries.
  2. You can also just buy a discount gift card from a discount gift card company and forego earning the points.  If you use this tip, be sure the discount gift card company that you use is safe and not gimmicks.  I strongly encourage you to check discount gift card companies on the Better Business Bureau.  I found 10 discount gift card companies on Top Ten Reviews; however, when I checked the BBB, some of the sites had a C+ rating or lower.  I found other discount gift card programs and checked the BBB and found they had an F rating.  Before you give anyone any money for discount gift cards, be sure those companies are safe.
  3. Other places where you can get gift cards at discount rates are:
    • Warehouses and club stores such as Costco or Sam’s Club
    • Exchange frequent flyer miles and points for gift cards (this will also help to keep your airline or hotel miles active so they do not expire).
    • Rewards-earning shopping portals: some banks, credit card companies, travel websites, etc. have their own shopping websites.  When you purchase gift cards on their websites, you earn rewards points.
    • If you use Walmart or Target super centers that also sell food, your cash back programs will provide cash back for those gift cards. Your cash back program will also most likely pay cash back for some supermarkets such as Safeway or ACME.

If you found the information throughout this 10-Step Supermarket Combination Technique helpful, check back to my website periodically.  I am in the process of including all the Combination Techniques that I use for Entertainment & Dining Out, Online Purchasing, Travel & Vacations, and Gasoline & Utility Bills into separate books.  When they are complete, I will make them available in the eBooks section.

TAKE ACTION #1: find the perks that the credit card companies offer for the different credit cards that you have.  Do any of the credit cards you have offer double points for supermarket purchases? If not, consider checking out some of the resources in this article.  Maybe another credit card would be worthwhile.

#2: when was the last time you contacted your credit card company to inquire about a reduction in the interest rate they charge?  Many credit card companies will only reduce the APR interest they charge when a customer asks for a reduction.  Rarely will they contact you to offer a reduced APR.  The phone number will be on the back of your credit card.

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Updated: July 19, 2017 — 8:26 am

2 Comments

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  1. Admiring the commitment you put into your blog and in depth
    information you offer. It’s nice to come across a blog every once in a while that isn’t the
    same outdated rehashed material. Great read! I’ve saved your site and I’m adding your RSS feeds to my Google account.

    1. Thanks for the compliment. I enjoy researching. I still find it mind boggling when I research an item and find many blogs that simply copy the same info word-for-word. That is why I always put the references right in the paragraphs of my articles.

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