Whether you’re getting your little protégé to preschool, or figuring out where French Literature 101 is, back to school shopping means book bags, dorm room digs and some heavy lifting from your credit card. Tally’s got you covered with smarter spending and tips for next year.
1. Plan ahead.
Some cards offer bonus cash back over the back to school shopping period but only for items you know ahead of time you will be purchasing. The U.S. Bank Cash+Visa offers 5% cash back in any two categories you choose each quarter. So, if your new Colorado State University freshman is in the market for a new laptop and snow gear, make sure to select electronics and clothing as your cash back category ahead of time.
Some states have sales tax holidays for back to school shopping. The average American spends $501 per child on school supplies, meaning that timing your shopping to a tax-break holiday, can make a noticeable impact on your total spend. See if your state qualifies here.
2. Shop through site’s rewards portals.
It’s simple. Check your credit card dashboard, and then find out how you can visit your favorite retailers for back to school shopping. For example, Chase customers would go to their Ultimate Rewards panel and select “Earn Points” then “Shop with Chase.” You can earn up to triple the points on certain sites with the Chase Ultimate Rewards portal or Discover’s shopping portal. So, that tablet for your serious new seventh grader can turn into serious points for you later.
3. Price double-check.
Full-price FOMO is a real thing. Luckily, some cards refund you if they find a lower-priced retailer by using price matching. Citi Price Rewind does a 60-day search for a lower price on your purchases, and Chase offers up to $500 reimbursement per item for up to 90-days after purchase.
Back to school shopping is inevitable for parents and students, but it doesn’t have to break the bank. So save some cash this year and use it to pay down your high interest rate cards.
However you shop, Tally can help sort through the hassle of paying off your balances faster and more efficiently. Click here to try Tally for yourself, and follow us for more budget friendly tips.