Credit Cards Help Lower Rising Electric Bills - Products News


ADVERTISING DISCLOSURE: is an independent, advertising-supported web site. receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » News » Products » Credit Cards Help Lower Rising Electric Bills

Credit Cards Help Lower Rising Electric Bills

Credit Cards Help Lower Rising Electric Bills
The content is accurate at the time of publication and is subject to change.
This content is not provided by Citi. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by the Citi.

The cost of electricity has dropped over the past few years, with customers paying about 25 percent less than they did in 2008 according to a recent statement by the Massachusetts Department of Public Utilities. However, prices are expected to climb again, with 90 percent of utility executives surveyed by consulting firm Black and Veatch saying that they believe new government regulations will cause utility bills to rise.

The Black and Veatch study was reported by CNN and surveyed about 500 executives, over half of whom said that they predict a significant rise in utility bills, interpreted by the consulting firm as about 10 percent or more.

Rising Temperatures, Rising Bills

With summer coming on, many Americans are feeling the heat when it comes to electric bills and are eager for any way to stay cool and keep bills low.

American households pay an average of $111 a month on electricity, according to the U.S. Energy Information Administration. Although that number may be lower than it was in 2008, with many households still struggling to recover from the recent recession, it can still be a big chunk of the household budget – especially when soaring temperatures cause consumers to crank air conditioners.

Credit Card Heat Relief

One way to save on those electric bills is to use a cash back credit card to pay them. Most credit cards allow members to set up automatic bill payment, so not only will bills always be paid on time, card holders will get cash back for charging bills to their accounts. Another way to pay utility bills with a credit card is to sign up with a service like ChargeSmart, an online platform which allows customers to set up automatic credit card payments to utility companies.

Which credit card is best to use? The Citi Dividend Card gives new card holders $150 cash back when they make just $500 in purchases during the first three months after opening an account, along with a zero-percent APR on purchases for a year. Card holders earn one percent back on all purchases, with five percent back each on categories that rotate every quarter. Through the end of June, Citi Dividend is giving five percent cash back at Home Depot.

Saving Energy, Saving Money

To save the most money on electricity this summer, consumers could apply for the card, buy an electricity usage monitor to help keep electricity usage in check – the P3 International Kill-A-Watt Electricity Usage Monitor is available from Home Depot for $20.28 – and get five percent cash back.

While shopping at Home Depot, customers could also pick up any supplies they need to put these hot energy-saving tips into action:

  • Put up sun-blocking blinds and keep them closed during the sunniest part of the day.
  • Install ceiling and window fans and use those instead of turning on the air conditioning whenever possible – they use far less energy.
  • Switch off the A/C if no one will be home for several hours.
  • Put new filters in the air conditioning units, or clean the old filters.
  • Set the thermostat a few degrees warmer. 75 degrees instead of 72 degrees isn`t too noticeable a difference, but each degree higher accounts for a five percent drop in energy use.
  • Plant some trees in the yard to create shade that will keep the house cooler.

Many credit cards offer cash back, and rotating rewards categories change every few months, so there is always a way for savvy customers to save money, even when electricity rates are on the rise.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:

Related News:

The Newly Revamped Hawaiian Airlines World Elite MasterCard

Posted: July 20, 2018

Vacationing in Hawaii can be a dream for many, and those with the recently upgraded Hawaiian Airlines World Elite MasterCard and Hawaiian Airlines Business MasterCard can earn miles towards a trip quicker with the cards newly revamped ... Continue reading
Getting Cash Back When Flying With Aerolineas Argentinas

Posted: July 19, 2018

There is a new Amex Offer on the table for people who are thinking about flying with Aerolineas Argentinas, giving them $100 in cash back when booking flights with the airline. To get the deal, travelers must spend $500 or more. Continue reading
American Express Cardholders Get Free Amazon Prime

Posted: July 18, 2018

If you have an American Express credit card you may find a special offer in your inbox, one letting you take Amazon Prime for a test drive for free for three months. This offer is available until July 23rd, 2018, or until 160,000 people ... Continue reading
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants,, or wholesale clubs up to the quarterly maximum each time you activate.
For Excellent, Good Credit
We'll match all the Miles you've earned at the end of your first year. For example, if you earn 30,000 Miles, you get 60,000 Miles.
For Excellent, Good Credit
0% Intro APR on Balance Transfers and Purchases for 18 months. After that, the variable APR will be 15.74% - 25.74% based on your creditworthiness*
For Excellent, Good Credit
You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!