Recently on the website WalletHub, UTC Associate Professor of Marketing Stephanie Gillison offered some advice on using credit cards to buy groceries.
Which do you think is likely to benefit the average person more: a credit card with great rewards on groceries or a credit card with great rewards on travel?
This really depends on the individual and their spending for either groceries or travel each year. The average person will likely benefit more from rewards on groceries, but each person should look at their spending to determine the right card for them.
Why don’t all the major grocery store chains have their own co-branded store credit card?
That’s a great question. Some grocery stores may not see that the benefits outweigh the costs of launching and supporting these credit cards. I think it is likely a logistical and infrastructure issue as well. Many grocery stores have limited resources (be it financial, human resource, or time) and that limits their ability to offer their own store credit cards.
How would you say clipping coupons compares to comparison shopping for the right grocery rewards credit card in terms of saving potential and efficiency?
Clipping coupons takes time and energy for the shopper. Many shoppers will come out ahead if they invest at least some of that time comparing grocery reward cards and finding the card that will maximize their savings (at a store that is conveniently located near them).
WalletHub.com features financial information and advice, including free credit scores and full credit reports as well as credit-improvement advice; personalized savings alerts; and 24/7 wallet surveillance.