A Pumpkin Spice Latte Can Affect My Credit Score? – Credit Sesame

Summary:

• A PSL a day can also add up, so watch your credit rating if making use of your credit card to buy your favorite beverage.
• With Sesame Cash, you will get up to 15 % cash return instantly from some of your local coffee shops.
• Try this other money-saving hack to obtain a PSL in a fraction of the price!

It's Pumpkin season! Well, not necessarily according to the calendar, but it sure feels like it because of so many different pumpkin-flavored foods and drinks which are already available, from Pumpkin Spice cereal to Pumpkin Spice Marshmallows, it's Pumpkin Spice everything.

And, obviously, everyone's favorite-drum roll please-the Pumpkin Spice Latte (or as we affectionately refer to it as, the PSL)! Yes, the beverage we like is available earlier than usual. Perhaps that is because there's something about Fall and pumpkin spice anything and everything that brightens our mood and puts a smile on our face (take that, 2021!).

However, did you know that experiencing your favorite Fall beverage every day may potentially impact your credit score?

Putting PSLs in perspective

Let's say you utilize a credit card when you purchase a medium-sized PSL for $4.95 versus a “regular” medium-sized coffee for $2.10. Should you bought one every single day for any month, that will cost you $148.50, compared to $63 for the same number of regular coffees.

Now let's say your borrowing limit on one card is $1,000. Ideally, you want your credit card balance, also referred to as credit utilization, at the end of the month to become under 30 % of your limit, or under $300 in this instance. If you are using your credit card to pay for your PSLs, that could make up nearly half of the “desired” credit card balance.

But if you can hold your Pumpkin Spice craving to once per week, you can spend under $20.00, which could help to keep your credit utilization-and your credit score-in check.

Get cash return whenever you buy

If you are going to spend all that cash on a PSL, you may too go back where you can!

We understand how important a morning coffee can be for many people, therefore we recently launched our Cash Back Offers through Sesame Cash. With the app, you can see which local coffee shops and national chains are providing cashback rewards (up to 15% off!) which will go instantly back to your money once you activate a deal and purchase making use of your Sesame Cash card.

Another method of getting cash [or points] back is to use a credit card that provides you rewards, a treadmill from your favorite local cafe. Those credit cards usually have several rewards for free food and beverages to be a frequent and dependable customer.

Try this PSL money-saving hack

Craving that PSL but want to spend rather less money? Here is a money-saving secret we'd like to share: order a normal coffee with 3-4 pumps of pumpkin along with a a little milk! Based on where you go, the flavored sauce only adds about $0.60 along with a a little milk usually doesn't cost anything extra. You will have a pumpkin-licious beverage that tastes just like the original, with no price!