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How Credit Cards Can Help You

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If your grocery or gas bills go up every month, you’re not alone. Across the country, Americans are paying more for everyday items.

October 13, The Ministry of Labor reported a 0.4% rise in the consumer price index (CPI) in September, which measures the average change in consumer prices over time. This surge continues the upward trend in prices that we have seen throughout the year, and it marks an increase from the previous month. In August, the CPI climbed 0.3%.

The rise in prices, due in part to the persistent pandemic supply chain issues, are mainly seen in the cost of food, rent and gasoline.

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There are dozens of little ways to adjust your budget to help offset the rising prices, and credit cards can help. Cash back rewards credit cardholders can redeem their rewards as statement credit to reduce their credit card balance. And some credit cards are specifically designed for spending on gas and groceries, so you can save money every time.

Cash back credit cards that reward your groceries and gasoline purchases

Here are the credit cards to consider using the next time you’re shopping for food or gasoline, so you can save more on those expensive grocery and gas purchases.

Highest cash back rate on groceries, plus rewards for gasoline: American Express Blue Cash Preferred® Card cardholders can earn 6% cash back at US supermarkets up to $ 6,000 per year in purchases (then 1%) and 3% cash back at US gas stations. Cash back is received in the form of reward dollars which can be redeemed as a credit on the statement.

Highest cash back rate on gasoline, plus grocery rewards: PNC Cash Rewards® Visa® cardholders earn 4% cash back at gas stations and 2% cash back at grocery stores up to $ 8,000 per year in combined purchases in these categories.

Solid cash back rate on groceries and gasoline and no annual fee: American Express Blue Cash Everyday® Card cardholders can earn 3% cash back at US supermarkets up to $ 6,000 per year in purchases (then 1%) and 2% cash back at US gas stations. Cash back is received in the form of reward dollars which can be redeemed as a credit on the statement.

5% cash back on high limit groceries, plus a welcome bonus: New holders who register for Chase Freedom Flex℠ get 5% Cash Back on grocery store purchases (excluding Target® or Walmart® purchases) up to $ 12,000 spent in the first year. You can also earn a welcome bonus of $ 200 in cash after spending $ 500 on purchases in the first three months after opening the account. Additionally, the Freedom offers rotating bonus categories where you can earn 5% cash back up to $ 1,500 in purchases per quarter, and gasoline is often a bonus category.

5% Cash Back for online grocery purchases, plus gas rewards: Visa Signature® Amazon Prime Rewards card cardholders can earn 5% cash back at Amazon.com and Whole Foods Market and 2% at gas stations.

Looking for a more inclusive credit card?

While there are credit cards on the market today that offer lucrative rewards in specific categories such as supermarket or fuel purchases, not everyone wants to worry about handling certain bonus categories. .

If you want a card that offers a strong cash back program for every type of purchase, consider the Wells Fargo Active TreasurySM Menu. It earns 2% unlimited cash rewards on all qualifying purchases and you won’t have to pay an annual fee. In addition, the Active Cash card comes with a welcome bonus of $ 200 in cash if you spend $ 1,000 on purchases within three months of opening the card.

Wells Fargo Active Cash Cardâ„ 

  • Awards

    2% unlimited cash rewards on purchases

  • Welcome bonus

    $ 200 cash rewards bonus after spending $ 1000 on purchases in the first 3 months

  • Annual subscription

  • Intro APR

    0% APR on qualifying purchases and balance transfers during the first 15 months from account opening

  • Regular APR

    14.99% to 24.99% variable on purchases and balance transfers

  • Balance transfer fees

    3% launch fee ($ 5 minimum) for 120 days from account opening, then up to 5% ($ 5 minimum)

  • Foreign transaction fees

  • Credit needed

For pricing and fees for the American Express Blue Cash Preferred® card, click here.

For pricing and fees for the American Express Blue Cash Everyday® card, click here.

Editorial note: Any opinions, analysis, criticism or recommendations expressed in this article are the sole responsibility of the editorial staff of Select and have not been reviewed, endorsed or otherwise approved by any third party.


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