Starbucks Is Raising Its Prices Today

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You could pay more for your morning latte starting today. Or you could not. Thing is, if you get your morning caffeine fix at Starbucks, you won’t actually know if you’re paying more until you buy it.

The coffee purveyor is “planning a small price increase on select beverages” starting July 12, but the company isn’t saying exactly which beverages will cost more. A statement issued by the company on July 1 said some drinks will increase by 30 cents per beverage.

Some customers got an early taste of the price increase, according to a statement on the corporate website: “The price adjustment was prematurely entered into the point of sale systems in our U.S. company-operated stores. As a result, some customers were charged incorrectly. The maximum any customer could have been overcharged is 30 cents per beverage.”

(The company encouraged customers who believe they were overcharged to contact customer service at 1-800-782-7282.)

Of course, you can skip the price increase altogether by making your coffee at home. But, if you’re a member of the Starbucks rewards program, the price increase can mean more rewards. Earlier this year, Starbucks overhauled its popular rewards program so customers receive two reward stars per dollar spent in lieu of one star per transaction. The coffee company also started offering a prepaid rewards card along with Chase Bank. (You can check out our roundup of the best rewards credit cards here.)

While rewards programs can offer great perks for being a loyal customer, they can also entice people to overspend, consciously or not. Just remember, overspending and getting yourself into debt can have a significant impact on your credit scores. You can see how your debt is impacting your credit scores for free on Credit.com. You can also use this tool to calculate your lifetime cost of debt.

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Image: Joel Carillet

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