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Can Credit Card Help To Save Money? Americans Are Spending More On Groceries Amid COVID-19
Groceries sales have increased. Well, the first case of COVID-19 has been recorded in January in the U.S. Consumer’s spending has been drastically changed since then.
According to a report published in CNBC.“Travel spending has plunged more than 85% since this time last year. Home improvement and food delivery sales have soared”.
Standing in this critical situation, it is seen that people are making more transactions on grocery items. Amid COVID-19, restaurants are shut down and therefore, people are compelled to cook at home. Ultimately, the sales of meal kit and grocery deliver are on the rise. People are also maintaining social distancing and so, they are making online payments with their credit cards.
According to a data from Earnest Research, “Total grocery sales spiked an initial 79% from March 11 to March 18 as Americans reacted to news of the quarantine. And although they’ve dropped closer to normal levels since then. Sales are still higher than they were this time last year”.
It is a fact that people are spending more on food and therefore, considering the present situation, rewards credit cards are offering alluring offers to the consumers. Customers can earn up to $100 a year on groceries.
According to CNBC, the top three credit cards for purchasing grocery items are as follows:
Amazon Prime Rewards Visa Signature® Card: This is one of the best options for online grocery shopping.
Blue Cash Everyday® Card from American Express: There is no annual-fee on this grocery card.
Blue Cash Preferred® Card from American Express: If you want highest cash back on groceries, you must go for this card.
The Amazon Prime Rewards Visa Signature® Card is suitable for those who want to earn an unlimited 5% cash back on Whole Foods and Amazon purchases. According to a report, “The average American can earn $207* in cash back each year when they do their shopping at qualifying supermarkets — and with the spike in grocery sales this is likely higher”.
The Blue Cash Everyday® Card from American Express is the no-annual-fee. Cardholders can earn 3% cash back at U.S. supermarkets on up to $6,000 per year in purchases.
The Blue Cash Preferred® Card from American Express offers the highest cash-back rate at U.S. supermarkets, with 6% on eligible grocery purchases. An average American can earn up to $310 in the form of cash back every year with this card.