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Instacart and DoorDash are both planning to launch credit cards, according to a report in the Wall Street Journal. On one hand, I feel like these pandemic favorites are both a little bit late to the party. I’m sure they wish they had come out with these cards a year ago. But better late than never, of course.
Retail credit cards have actually been declining for more than a decade now. According to Equifax, there were about twice as many retail credit cards in circulation back in 2009, compared to now. Much of that decline, though, can be attributed to the fall of brick-and-mortar retail, specifically department stores. As digital-first brands, I do think that Instacart and DoorDash are in a better position.
The buy now, pay later industry has also cut into retail credit cards, but I don’t think that’s the best fit for Instacart or DoorDash, either. That tends to be more of a physical goods kind of thing – clothes, furniture, electronics – not really consumables like food.
And, while the online grocery market and food delivery have both really taken off over the past year, they both have a lot of room yet to run. They still represent small portions of the overall grocery and dining markets. So I do think that there’s a lot of potential here.
I think what Instacart and DoorDash are after is loyalty. They’re trying to get repeat customers. They’re trying to get new customers. It’s a competitive space. And I think by offering something like 5% cash back when you use their credit card with their brand – I think something like that could really be a winning proposition.
So it’s still in the rumor stage now, but I think if something like this does come to fruition, I think they’ll get a lot of takers.
Just a Little Time for Profitable Safe Investing
No time. Perhaps the most common comment from those who say they don’t invest in the stock market is that “they don’t have time” followed closely by “I don’t have any money.” But once you understand yourself you can confidentially move forward. The time excuse will fade away as you realize the initial time spent and the average 20 minutes a week will produce a bigger paycheck than any regular job for the amount of time spent.
Common Sense 401K Investing Tips
Applying common sense to a situation is always a good idea, but it will only go so far when it comes to investing money in your 401k. Here we bring you up to speed with some 401k investing tips that will help you make the best of it. After all, what you don’t know can hurt you.
Simple Diversification Techniques for Safe Investing
Almost all savvy investors know it is critical to diversify their investments to protect themselves from major losses. And new investors also know they don’t want to lose their shirt so there has to be something they can do to protect their money.
Good Investment Tips For 2014, 2015 and Beyond
Investors are always looking for opportunities, and some folks are especially interested in good investment tips in the form of stock tips. Here we cover how to tell good tips from bad; and then I’ll give you what I consider to be some good investment tips for 2014, 2015 and beyond. Let me start with an example of how so-called good investment tips or stock tips were sometimes peddled to average investors in years past.
Profitable Safe Investing With Your US Thrift Saving Plan
Managing a retirement account can be a challenge which is why many people just let it glide along its own path. The key for US government employees is not only to participate in their Thrift Savings Plan (TSP) but to actively setup their account, review it either weekly or once a month and develop a strategy that will provide for the greatest growth with an acceptable risk level.