Best Rewards Credit Cards for School Shopping
As families prepare to send their children back to school, many worry about the high cost of supplies. Two out of three parents are stressed about these costs – according to CompareCards’ annual Back to School survey, which grew 43% in 2019 – and it’s easy to see why. The National Retail Federation says the coronavirus could push parents to record re-schooling costs of roughly $ 789.49 per family.
When you are feeling the prick of high costs, every dollar you save can go a long way. One way to save money is to swipe by credit card to receive a cash-back reward or sign-up bonus. To create our list of the best bonus credit cards for school shopping, we took several factors into account:
- How can you earn or redeem points?
- Is there an annual fee and is it worth it?
- Is there a registration bonus on the card?
Amazon Prime Rewards Visa Subscription Card
The Amazon Prime Rewards Visa Signature Card is our top choice for online shopping.
Rewards: 5% Cashback on Amazon.com and Whole Foods Market with Prime Membership; 2% cashback at restaurants, gas stations, pharmacies; Cashback 1% on other purchases
Sign Up Bonus: $ 70 Amazon Gift Card After Approval
Annual fee: $ 0
How to get: redeem Rewards on Amazon via the store for points
Why We Love It: It’s hard to win 5% cashback if you’re an Amazon Prime member and plan to buy school supplies online. (You can even qualify for free membership in Prime Amazon’s .) For more information about the map for the signature Visa Amazon Prime Rewards cm . Here .
Citi Double Cash Card
The Citi Double Cash Card is our favorite no-frills credit card with a cash back and no annual fee.
Reward: 2% cashback for all purchases (1% after purchase and 1% after payment of the invoice).
Sign Up Bonus: No Current Offers
Annual fee: $ 0
How to Get: Get Cashback via Citi Online Portal ($ 25 increments)
Why we love it: This convenient money-back card offers a flat 2% off all purchases (as long as you pay your bills on time). This is a great option if you prefer to avoid annual fees – and hate keeping track of expense categories. You can read more about Citi Double Cash here .
Blue Cash Preferred® Card from American Express
The Blue Cash Preferred® Card from American Express is the best option for grocery shopping.
Rewards: 6% cashback in supermarkets (up to $ 6,000 per year), and then 1%; 6% cashback for selected streaming services; 3% cashback at gas stations; 3% cashback on travel (including taxis, ride-sharing, parking, tolls, etc.); Cashback 1% on other purchases
Sign Up Bonus: $ 300 if you spend $ 1,000 on eligible purchases within the first three months.
Annual fee: $ 95 per year.
How to repay: Repay as a statement loan (US $ 25 increments)
Why we love it: While there is a $ 95 annual fee charged with this card, you can easily cover those costs with weekly grocery shopping, especially when shopping for the family. Plus, you can get closer to earning your spending bonus by purchasing eligible return items. Full details of the American Express Blue Cash Preferred® card can be found here .
US bank Visa® Platinum card
US Bank’s Visa® Platinum card is our favorite credit card with 0% per annum for large purchases.
Awards: none
Sign Up Bonus: No
Annual fee: $ 0
Initial offer: 0% per annum for the first 20 settlement cycles; 13.99% -23.99% per annum (subject to change) after the end of the promotional offer
Why We Love It: This credit card offers one of the longest running zero interest rate promotions on the market. This can be useful if you are shopping for larger returns-to-school purchases, such as laptops or tablets. Another benefit: This card offers $ 600 ($ 25 deductible) cell phone protection when you pay your cell phone bill with this card. You can learn more about the US Bank Visa® Platinum card here .
Tips for Using Bonus Credit Cards
There are a few things to keep in mind when applying for a new credit card. You should always review the full terms and conditions, including the annual rate and card commissions, to know exactly what you are signing up for.
If you cannot afford to pay off the balance every month, you can use a zero interest credit card. Otherwise, you will have to pay a high annual rate, which can make it difficult to pay off the balance.
Regardless of which credit card you choose, you should set reminders for monthly payments. According to NerdWallet, missing one payment can lower your credit score to 100, and it can take a while to recover .