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HomeBlog Credit Card DebtShould You Use A Rewards Card To Save More Money?
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Should You Use A Rewards Card To Save More Money?

March 3, 2013 by National Debt Relief

Smiling woman hugging sack of groceriesNext to politics, the subject of credit cards probably creates the second hottest debate. Should you use credit cards at all? How many credit cards should you have? How should you use your credit cards? These are just a few of the questions related to credit cards. One other is whether you should use them to save more money?

They are convenient

There is no getting around the fact that having a credit card makes shopping easier and more convenient. However, some financial experts think that there is no place in a savvy shopper’s wallet for credit cards. But there are others who strongly believe that using a rewards credit card can lead to extra savings at the grocery store – if you can avoid the pitfalls associated with them.

A better deal

While there are rewards cards that come with points you can redeem for travel, merchandise or gift cards, the best deal for shoppers may be cash back cards. And according to Consumer Reports the best card for cash back as of November of last year was the American Express Blue Cash Preferred. It can get you 6% cash back on as much as $6000 worth of supermarket purchases each year. If you have a fairly large family and spend that much on groceries, this works out to $360 cash back for the year.

It’s not all good

However, there are two downsides to rewards credit cards when you use them to buy groceries. The first is that you run the risk of spending more than you had intended. In fact, financial gurus including Dave Ramsey have said that using a debit or credit card as the will cause you to overspend your budget by 12% to 18%. While these numbers are difficult to validate, it just makes sense that it’s easier to spend more money when you use a credit card.

The second pitfall

The second pitfall can be summed up in one word – debt. If you’re already up to your eyeballs in debt, using even a rewards credit card is not a good idea. In fact, if you find you cannot pay off your balance each month, it just wouldn’t make good financial sense to charge your groceries. On the other hand, if you’re a good financial manager and have good self-discipline, using one of these rewards credit cards could be a good way to save money on your grocery budget.

Uncertain about where you stand?

If you’re not sure how well using a credit card at the supermarket would work for you, test yourself. Put enough cash for a month’s worth of groceries in your savings account. Then use the card for a month. Watch your spending, especially when it comes to impulse purchases and if you’re going over budget. When you get your statement the end of the month, take out money from your savings and pay the balance on your credit card bill. If you have enough to pay your balance or maybe even a bit more, you have your answer. You should be able to use that cash back credit card to buy groceries. However, if you come up short, stick with cash and put that credit card on ice.

The important thing to remember is that the only reason to have credit cards is if they can help you meet your financial goals. If they don’t , you might want to shred them.

Don’t carry balances forward

The first rule of good credit card management is to never carry balances forward from month to month. This is where people who get in trouble with debt get in trouble. If you carry a balance forward once, you may find it easier to carry it forward again and again. You may find you can make only your minimum monthly payments and the size of your debt will keep getting bigger and bigger like a snowball rolling down hill. Paying your balances each month is just the smart thing to do.

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National Debt Relief is one of the largest and best-rated debt settlement companies in the country. In addition to providing excellent, 5-star services to our clients, we also focus on educating consumers across America on how to best manage their money. Our posts cover topics around personal finance, saving tips, and much more. We’ve served thousands of clients, settled over $1 billion in consumer debt, and our services have been featured on sites like NerdWallet, Mashable, HuffPost, and Glamour.

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Moderate National Debt Relief Caller: Charlotte Transcribed WE 1/17/2021 Charlotte: I am calling because I wanted to ask a few quick questions about your experience with National Debt Relief [unclear 0:00:27]. JOSE: It’s good. Charlotte: Now before I begin, I have to let you know that our call is recorded. Can you tell me what actually made you decide to work with [unclear 0:00:40] National Debt Relief as opposed to other providers? JOSE: Good. Charlotte: What made you decide to work with National Debt Relief, as opposed to other debt relief companies? JOSE: Aside from your reviews, I’m guessing the success of the reviews. Charlotte: Tell me about the service and the program that National Debt Relief signed you up for? JOSE: I was able to collect all my debt into one chunk and then pay it off. Also was able to get settlements lower than what the balance was. Charlotte: How easy or difficult would you say the enrollment process was? JOSE: It was pretty simple. It wasn't difficult at all. Charlotte: Now is there anything about the process that you feel could have been improved? JOSE: Not at all. I think everything went smoothly. Charlotte: Perfect. Can you give me a little feedback on your experience with your negotiator? What did you think about your negotiator? JOSE: Negotiator was really firm and fair. Charlotte: Do you happen to remember the name of your negotiator by chance? JOSE: I do not, actually. Charlotte: Okay. Is there anything about that representative stood out [unclear 0:03:04] at all? JOSE: No, not at all. Charlotte: Perfect. How comfortable did you feel working with the negotiator through this process? JOSE: Very comfortable. Charlotte: Perfect. So if you had any questions or concerns, how did the negotiator work with you to resolve any questions or concerns that may have arisen? JOSE: At this point, I really didn't have any concerns at all. So, I mean, been doing a great job. Charlotte: Awesome. So if you were gonna rate your experience with National Debt Relief so far, on a scale of maybe one to five, and five would be that you would recommend to friends and one is you were pretty dissatisfied, how would you rate them? JOSE: Is 5 the highest? Charlotte: Yes, 5 is the very highest. JOSE: Okay. Then we’ll go with 5. Charlotte: Would it be okay if I posted your comments as a review on our public web site for National Debt Relief? JOSE: Yes. Charlotte: I will also send over a link so that you can have it as a record for yourself as well. And I have you at salvipride673@gmail.com. JOSE: Yes. Charlotte: How did National Debt Relief work with you as far as setting up a payment [unclear 0:04:45]? JOSE: They did pretty good. Like I said, I have no complaints at the moment. Charlotte: How comfortable were you with the amount that you were paying? JOSE: Very comfortable. Charlotte: Perfect. Now as far as your thoughts on the cost in relation to the quality of service you received at National Debt Relief, what would you say about that? JOSE: The service team was all right. Charlotte: Now if you were going to rate your experience on a one to five, five is that you would recommend to friends and one is you're pretty dissatisfied, how would you rate them? JOSE: 5. Charlotte: Perfect. Would it be okay if I posted a few of your comments to our website? JOSE: Yes. Charlotte: Now if a friend or a family member were asking you about National Debt Relief, what would you say? JOSE: Really great people to work with. Very quick and easy, very responsive, no issues. Really makes you feel like they’re there for you. So not a scam at all. Charlotte: Perfect. Now about where are you in the process at this point? JOSE: I've already had two creditors resolved already. Pretty happy about that. Charlotte: And of course, our call is recorded.

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