In our last blog, we highlighted the fact that credit card spending and summertime go hand in hand. Our experience has shown us that it’s important for Canadian retailers to offer this payment option to their customers during the summer – a very high sales season. If you’re not yet fully convinced of why you should accept credit cards this summer, perhaps you’ll make note of why the majority of your customers plan on using them.
Here are two big reasons why Canadians will be using their credit cards this summer:
1. They will be earning a lot of rewards points.
Everyone knows that there are several types of credit cards out there that offer shoppers more for their money. With each purchase made, these cards accumulate points that allow the cardholders to inevitably cash them in for various rewards. Often, rewards are travel-based, but there are also many cash back cards and others that allow for points to be put towards a wide variety of free items.
“Whatever your spending needs this summer, a rewards card can help you rack up free cash or travel,” says Erin El Issa on NerdWallet.com, “Most rewards cards offer between 1% and 2% back on your purchases, but many also have extra rewards for certain types of purchases — such as travel expenses, groceries or gas. Choose a rewards card with either high rewards on every purchase or extra-high rewards on the purchases you’ll make most this summer and all year long.”
On CreditCards.com, Carmen Chai points out that cardholders have the opportunity of travelling for free if they’ve been frequent credit card users in the past. “If you\’re planning a June or July vacation, log onto Aeroplan or Air Miles in springtime to see how many points you have, and how far best to use them,” she advises, “You\’ll want to know how many points an average flight costs before you cash in any of your rewards. “
2. They will be getting additional travel insurance.
Naturally, summertime is a popular time for travelling. So, it’s not uncommon for Canadians to spend money on airline tickets, hotel stays and rental cars. By using their credit cards for these expenses, many cardholders enjoy additional coverage. As Issa explains, it’s very beneficial to use a credit card to pay for a car rental.
“If you’re planning a summer road trip in a vehicle other than your own, a card with good rental car insurance coverage is key,” she believes, “You’ll save money by not having to pay for car insurance through the rental agency, and you’ll be covered in case of theft or damage.”
Chai agrees, noting that booking flights with a credit card is a great way to save money on travel insurance. “When you book, use a credit card that comes with the most travel coverage,” she insists, citing Toronto-based debt counsellor, Stephanie Petsinis’ advice, “Some cards include free trip insurance and medical insurance…But the onus is on you to make sure you book with the card with the applicable benefits.”
Now, you don’t have to be in the travel industry to benefit from accepting credit cards at your place of business. Because cards that offer rewards points allow for their users to collect points no matter where they spend, your store will be helping many a Canadian to get more bang for their bucks this summer. That is, of course, if you accept credit cards in your store.
To begin accepting credit cards or to upgrade from your current provider, don’t hesitate in contacting Canadian POS Corporation. Give us a call at 1-877-748-2884 or email us at info@localhost and be sure to ask us about our Countertop and Wireless POS terminal options!