The best credit cards for holiday shopping are ones that reward you as you cross off your list and every other day of the year, too. There are many options to choose from, so make sure you pick the best one for your needs. The best way to use cash back cards is by paying your monthly balance on time and in full to prevent interest from accumulating. But if you can’t avoid a balance, look for different credit cards with lower interest rates.
Another thing to keep in mind is that you should never apply for a credit card for the sole purpose of holiday shopping. But, many cards can benefit you even when you use them for regular purchases. Some of these may even offer promotional holiday offers.
Here is Money Under 30’s favorite cash back credit cards that are perfect for holiday shopping.
Chase Freedom Flex
The Chase Freedom Flex credit card maximizes the rewards you earn from the most well-known retailers. Every quarter, you can get 5% on up to $1,500 at select stores and categories. Plus, from now until the end of December, you can also earn 5% on Walmart and PayPal.
But there’s even more cash back opportunities, including 5% back on travel when you reserve using Chase Ultimate rewards, 3% on dining, takeout, and drugstores, and no limits on 1% cashback on everything else.
Not only that, but new cardholders can get a $200 reward when you spend $500 in the first three months you open the account. You already know that you’re going to spend more than usual during the holidays, which makes that bonus a great reason to sign up for the Chase Freedom Flex.
This card offers 0% APR for up to 15 months and no annual fee.
Discover it Cash Back
The Discover it Cash Back credit card gives you 5% cash back on a total of $1,500 worth of purchases every quarter on qualifying transactions, plus unlimited 1% cash back on everything else. You have to activate these rewards to start earning them, but it’s a small price to pay for the benefits.
What makes the Discover it Cash Back one of the best credit cards for holiday shopping is that you can earn 5% back on any purchases from Amazon, Target, and Walmart from now until the end of December. Another great perk is that Discover automatically matches your cash back rewards after the first year you open an account.
Other perks you get with the Discover it Cash Back include complimentary security alerts if someone creates a new account with your identity or if your Social Security number is discovered on the Dark Web. It also has no annual fee, no foreign transaction fees, and no interest rate penalties.
Wells Fargo Cash Wise Visa Card
The Wells Fargo Cash Wise Visa Card gives you the chance to get $150 cash back when you spend at least $500 in the first three months that you open the account. You can also earn unlimited 1.5% cash back on everything else.
With this credit card, you can get zero APR on all purchases, plus 0% on eligible balance transfers for 15 months. There is a 5% balance transfer fee, and you can’t earn cash back for this service. After the 15-month introductory period, the rate switches from 13.99% to 25.99%, depending on your creditworthiness.
The Wells Fargo Cash Wise Visa Card has no annual fee, though it charges 3% for international purchases.
Bank of America Cash Rewards Credit Card
Right now, you can earn $200 cashback when you spend $1,000 or more in the first 90 days you open a new Bank of America Cash Rewards Credit Card. With this credit card, you can earn 1% cash back on any purchase, 2% cash back at the supermarket and wholesale clubs, and 3% on a category of your choice (up to $2,500 in combined total).
So if you open a new Bank of America Cash Rewards Credit Card account, you can pick a category that you know you’ll be doing most of your holiday shopping in. That’s a great way to maximize your cash back rewards!
This card also has no annual fee, making it one of the most affordable credit cards on the market.
- Steele, Jason. “5 Of The Best Holiday Shopping Credit Cards.” Money Under 30, 20 Oct. 2020, www.moneyunder30.com/holiday-shopping-credit-cards.