We know that May has just started. But many Canadians are already preparing themselves for the summer. And can you blame them? We’ll all suffered through enough cold months to last us our lifetimes…or at least until next winter! The fact of the matter is that the official start of summer is just a little over a month away. And, as retailers all across Canada know, shopping habits change when the summer arrives.
How much are Canadians spending during the summer?
According to Toronto-based personal finance expert, Rubina Ahmed-Haq, “summer spending actually eclipses Christmas expenses.” As reported by Carmen Chai on CreditCards.com, “a 2015 Bank of Montreal poll found Canadians spend $5,605 during the summer.” She goes on to recommend that all shoppers use their credit cards for their summertime spending habits.
“If you\’re taking a road trip and guzzling through gas, you should ideally use a credit card that earns you points at gas stations,” she advises, citing recommendations from Stephanie Petsinis, a Toronto-based debt counsellor, “These cards offer perks such as double points or a few cents off a litre of fuel, depending on where you fill up.”
What summertime shopping habits make credit card acceptance a must?
Well, there’s the fact that many people take vacations during the summer. That means that, in addition to your local-area customers, you’ll have more opportunities to welcome visitors to our country into your store during the months to come. Instead of forcing foreign customers to exchange their currencies, make it easier on them by welcoming their plastic methods of payment as well.
On NerdWallet.com, Erin El Issa advises cardholders about the types of cards they should consider using during their travels. “If you’re traveling overseas, a card without foreign transaction fees is a good start, but there are a few other features you should look for as well,” she advises, “A card with EMV technology will keep your transactions more secure and allow you to make purchases from foreign merchants that accept only EMV cards.”
What other benefits are there to summertime credit card use?
It should come as no surprise to you that Canadians enjoy using credit cards in order to take advantage of such perks as rewards points, rental car insurance and extended warranty programs. Issa sees these as the most handy of credit card features for summertime spending.
“If you’re buying a new home this summer, you’ll likely have a long list of big purchases to make,” she writes, “Keep your home purchases protected with extended warranty protection. Many credit cards offer up to an additional year of coverage on top of the manufacturer’s warranty. Check your benefits statement to see how your warranty policy works.”
What reason would you have to not accept credit cards this summer?
We can’t think of any! At Canadian POS Corporation, we know how important it is for both Canadian shoppers and visitors to Canada to have the freedom to use their credit cards to pay for their purchases. To begin accepting credit cards or to upgrade from your current provider, don’t hesitate in contacting Canadian POS Corporation.