Scan and Save: Store Rewards Quiz
by Staff
Using a rewards program to make your money go farther can be a good idea. It's a good idea for merchants, too. Let's test your shopping smarts when it comes to rewards programs. Are you a savvy shopper or just a savings wannabe?

Rewards programs encourage you to buy more from the merchant offering the card. What's the benefit to the consumer?

  • When you buy, you become eligible for special prizes.
  • The more you buy, the more you save.
  • Your purchases support local retailers and encourage a robust marketplace.

Why should you use caution when signing up for rewards?

  • Rewards cards can take up valuable space on your key chain (or in your wallet).
  • The data aquired from your purchases can be personal.
  • Both of the above

What type of retail purchase is the most popular for rewards?

  • Cosmetics
  • Grocery
  • Clothing

What's one of the big gotchas when grocery shopping using a rewards card?

  • Regular price is often higher than the discount grocery chains
  • Volume purchase requirements may have hidden costs, especially if you don't use perishables quickly enough.
  • Rewards are offered on lower quality store brand merchandise

What's the easiest way to sign up for a grocery store card?

  • Join by paying a fee.
  • Fill out an application at the customer service desk.
  • Add your name to an online waiting list.

What type of rewards card is the most convenient to use?

  • Credit card style
  • Keychain style
  • Neither

Are frequent flier mile rewards free?

  • No. There are typically additional charges.
  • Yes, but only if you have a great credit score.
  • Yes, but only with a few programs.

If you don't fly often, can you still earn rewards miles for free round-trip tickets to exotic locations?

  • No
  • Yes
  • Only if you purchase travel related products

Can you get discounts on prescriptions with drugstore rewards cards?

  • Only for generic drugs
  • At some drugstores
  • No. Prescription discounts through retailers is illegal.

What's the best rewards card?

  • The one with the best discounts
  • The one you use for products you'd buy anyway
  • Any rewards card with no annual service fee

What do the experts consider one of the big downsides to participating in rewards programs?

  • Hidden costs
  • Potential loss of privacy
  • Waste

What percentage of American consumers belongs to a grocery store rewards program?

  • 90 percent
  • 62 percent
  • 48 percent

What is one potential downside to letting retailers learn too much about you?

  • The information can fall into the wrong hands.
  • Retailers can use the information to encourage you to overspend.
  • The government can access the information without your knowledge.

What's one way to get around potential spam problems when sharing your e-mail address on a rewards card application?

  • Give a bogus address.
  • Open a free e-mail account to handle these types of services.
  • Opt out of e-mail altogether.

What are inactivity penalties?

  • Not staying active in a rewards program can cause you to forfeit points.
  • Individual stores can be dropped from rewards programs if not enough people join.
  • Some cards require feedback via surveys. Non-participation results in termination from the program.

Retailers have a lot to gain by turning visitors into loyal customers. What percentage of a retail store's sales typically comes from a core base of loyal shoppers?

  • 30 percent
  • 50 percent
  • 85 percent

How do you save the most with rewards programs?

  • Following the rules
  • Buy more
  • Buy only in bulk

Are rewards credit cards a good deal?

  • Yes
  • Sometimes
  • No

What types of rewards are the most popular with consumers?

  • Instant discounts
  • Giveaways
  • Points programs

What single thing can help a consumer get a credit card with the more attractive rewards program attached to it?

  • A good paying job
  • A high credit score
  • A favorable demographic