Study: Best Credit Card for Groceries 2015
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If you live in a typical American household, your grocery bill adds up to a sizeable chunk of your budget. Using the right credit card for groceries can save you money.
Food is a necessity that you have to buy anyway, so why not take advantage of some extra cash back when you purchase it? The average family in 2013 spent about $6,600 on food, or about 13% of overall household spending, according to the Bureau of Labor Statistics. Even at a cash-back rate of 2%, the $6,600 that the average American family spends on food each year could put $132 back into your pocket.
We ranked the top offers from our partners and highlighted those that will give you the best value. Keep in mind that this assumes you’ll pay off your balance when it comes due so you avoid interest and late fees; otherwise your rewards will be negated.
To even the playing field, CreditDonkey.com scored the credit cards on the same basic premise: an American consumer (for the purpose of this article, we'll call her Jane) spends $550 a month at the supermarket, or $6,600 annually.
Credit Card for Grocery Shopping
Blue Cash Preferred from American Express (a CreditDonkey advertiser) won first place in our study with Jane pocketing $441 after her first year of spending. Assuming Jane was new to using the Blue Cash Preferred and she exclusively used the card for all her grocery shopping ($6,600 annually), she would earn:
Blue Cash Everyday from American Express (a CreditDonkey advertiser) won second place in our study with Jane pocketing $286 in the first year. Assuming Jane was new to using the Blue Cash Everyday and she exclusively used the card for all her grocery shopping ($6,600 annually), she would earn:
Barclaycard Rewards MasterCard won third place in our study with Jane pocketing $132 in her first year. Assuming Jane exclusively used the card for all her grocery shopping ($6,600 annually), she would earn:
The Barclaycard Rewards MasterCard is a good option for people with fair credit. With the Barclaycard Rewards MasterCard, you’ll earn two points on every dollar spent on groceries, gas and utility purchases, plus one point per dollar spent on everything else. That equates to 2% and 1% cash back, respectively. Put into dollar terms, $500 in monthly grocery spending will put $10 back into your pocket. There’s no limit to the points you can earn and no redemption fees to worry about.
Also worth noting is that, because this is a MasterCard, it’s likely to be accepted in more places than American Express and Discover, which has a somewhat smaller network of merchants.
Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. This site may be compensated through the Advertiser's affiliate programs.
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