$630.36. That’s the average amount a family with children in grades K-12 plans to spend on back to school expenses this fall, according to the National Retail Federation’s Back-to-School Spending Survey. In total, spending for K-12 and college is expected to reach $68 billion.¹
Considering the high price tag associated with back to school shopping, using a credit card that accumulates rewards points may be beneficial. If it makes financial sense for your family, why not get rewarded for the money you spend on school supplies, electronics, clothes and more for your student? Here’s how:
Choose the Best Rewards Card for You
Determining how you prefer to earn points and what you would like to redeem for your points will help you choose the right card.
For example, with the Merchants Bank Visa ScoreCard Credit Card, you earn one point for every² dollar you spend. Spend $1,000 and earn 1,000 points³. Points can be redeemed for airline flights, car rentals, merchandise and much more at scorecardrewards.com.
Take Advantage of Special Earnings or Points Offers
Once you’ve determined which credit card you’d like to use for back to school shopping for your student, research if that card provides special earnings or bonus points during the back to school shopping season. To find current information, you’ll want to check with your card issuer.
Through the ScoreMore program at Merchants Bank, you can earn bonus points year round with our Visa Scorecard Credit Card. If you have our ScoreCard Credit Card, you are automatically enrolled in ScoreMore and there are thousands of participating retailers to choose from. Simply active bonus points online at www.scorecardrewards.com, make your purchase at the participating retailor, and earn bonus points automatically. You can earn anywhere from double to quadruple or more the points on your purchases.
Be sure to do your homework before applying for or using a rewards credit card. For more information on Visa Credit Cards at Merchants Bank, visit our website.
Credit cards are subject to credit approval
²Every net retail dollar spent earns rewards points. Cash advances, finance charges and fees do not qualify for points.
³Points are rounded up or down based on the transaction amount. For example, a transaction of $150.52 would equal 151 points.