A popular grocery store chain is debuting a new rewards credit card.
About the Albertsons forU American Express Card:
This week, Albertsons Companies (which includes Albertsons, Safeway, Jewel-Osco, Vons, ACME, Shaw’s, Star Market, Tom Thumb, Randalls, Haggen, United Supermarkets and Pavilions) announced the debut of a new credit card. The Albertsons forU operates on the American Express network, allowing customers to use it at more than 2,200 Albertsons Cos. locations as well as anywhere Amex is accepted. While the new card is powered by Imprint, it’s issued by First Electronic Bank.
First, with the Albertsons forU American Express Card, customers can earn 5% back on online and app purchases from Albertsons Cos. stores. That includes pickup and delivery orders. Shoppers can also earn 3% back on in-store and pharmacy purchases (including prescriptions, immunizations, and eligible over-the-counter products).
Additionally, the forU card also earns 3% back on gas, 3% back on dining, 3% back on streaming services, and 3% back on utilities. All other purchases earn 1% back. Rewards are automatically redeemed for a statement credit each billing cycle.
The Albertsons forU card has no annual fee and is currently offering a welcome bonus. New cardholders can earn a $50 bonus statement credit after spending $1,000 on the card outside of Albertsons Co. stores within the first 90 days from account opening.
What They’re Saying:
Discussing the new card, Albertsons Cos. CMO Emily Turner said, “The new Albertsons forU American Express Card is designed to give customers even more value from their everyday purchases. Whether they are buying groceries, filling up at the pump, dining out, or filling a prescription, customers can earn meaningful rewards with ease.”
My Thoughts:
Typically, store credit cards aren’t really worth having since they tend to offer less-than-competitive rewards rates — and those rewards are often limited to redemptions with that brand. This Albertsons forU American Express Card bucks that trend, though, as the rewards are used for statement credits. Plus, average consumers are far more likely to spend money each year at a grocery store like Albertsons than they are at some specialized retail store.
The only downside (aside from the weak welcome bonus) is that the 5% category is limited to online and app purchases from Albertsons stores, while “regular” in-store shopping earns 3%. I don’t know enough about Albertsons’ online ordering system to know whether it’s worth striving to earn the 5% rate instead, but if it were 5% in-store too, this card would pretty much be a no-brainer for those anywhere near an Albertsons Cos. location.
So, while this card might not be the best that it could be, it may still be worth a look if an Albertsons Cos. brand is your grocery store of choice. As for those not near such a store, I’d recommend the Capital One Savor card to earn 3% back on groceries, dining, entertainment, and streaming services.
