AmEx launches new credit card with 6% on groceries

[Wednesday, May 11th, 2011]

There has been an increase in the price of agricultural products of about 35% according to reports and this has not translated into inflation for Americans on a large scale. However, it is still a fact that most groceries have become rather costly with eating healthy turning out to be a rather expensive choice to adhere to. If you are someone who is a vegan or follows a special gluten free diet then be prepared to shell out even more for your monthly groceries.

Banks have not wasted any time in cashing out on this hike in price and have brought out grocery reward programs in credit cards to bring in more business. It has been working quite well with popularity of these cards on the rise and they stand second to rewards given on gas cards in the first quarter of 2011.

For the average middle class spender however there isn’t much that is helping with the way things are. For the big spenders these offers make sense however with a 5% at grocery stores on the Chase Freedom and Discover More cards it does not seem to earn much in terms of benefits for those who spend lesser. This void is what American Express is focussing to fill by launching two new credit cards called Blue Cash Everyday and Blue Cash Preferred.

Blue cash every day allows consumers to convert cash back options to gift cards, reward dollars and merchandise. Blue cash preferred offers benefits of 6% cash back at supermarkets and 3% at gas stations at an annual fee of $75.

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