Credit card for Holiday shopping
Best Credit Cards for Holiday Shopping of 2021
The holiday season can be one of the most expensive times of the year for many people. Amid the current high inflation and supply chain problems, this could be even more expensive this year.
According to the National Retail Federation’s annual consumer spending survey, Americans plan to spend an average of $ 1,000 this year on gifts, holiday items, and other purchases for themselves and their families.
If you are looking for ways to save this holiday season, consider digging up your credit card accounts to find out what rewards you have to help reduce your vacation budget. ۔ “It could be cashback or it could be gift cards, especially if the money is tight, but you’re sitting on a lot of prizes,” says Ted Rossman, a senior industry analyst at CreditCards.com Owned by Red Ventures.
Another great way to maximize your savings and get cashback is to use your credit card to purchase gifts, especially those that are suitable for holiday shopping. When used responsibly, credit cards can give you cashback, purchase reservations, and other rewards for holiday shopping. But to avoid spending too much, you will need a vacation budget and a plan to pay your credit card bills on time and in full each month.
Wells Fargo Active Cash Card
Our selection for Maximum flexibility
Wells Fargo Active Cash Card
Card details
Rewards: Unlimited 2% cash prizes on purchases.
Sign Up Bonus: Receive a $ 200 cash prize bonus after spending $ 1,000 on purchases in the first 3 months.
Annual fee: $ 0.
APR: 0% introduction on 15-month purchases APR and 0% introduction on balance transfers 15 months after opening APR account on qualifying balance transfers, and then issuing APR 15.24% -25.24% variable APR.
Benefits
The Wells Fargo Active Cash℠ card offers a very attractive 2% cashback on all purchases, a helpful way to increase your budget when making all your holiday purchases. You don’t have to worry about selecting revolving categories or getting different rewards depending on where you shop – you can just focus on your gift selection. The fact that it comes with a bonus offer and no interest in it makes the card even sweeter.
Cons
The simplicity of the card also comes with a downside: you won’t get as many rewards in some categories as you do on other cards. It is also possible to look for promo duration elsewhere without interest.
Wells Fargo Reflect℠ Card
Our Choice: Buyers seeking financial support.
Wells Fargo Reflect Card
Card details
Rewards: None.
Signup Bonus: None.
Annual fee: $ 0.
APR: 0% introduction APR for 18 months from account opening on purchase and transfer of qualifying balance APR, and then 13.24% -25.24% variable APR issued APR. Intro APR extension up to 3 months with minimum payments on time during the introduction and extension period.
Benefits
If you are looking for financing for your holiday shopping over the next year and a half, this offer is hard to beat. The fact that the introduction of APR can be extended for another three months makes it even more attractive.
Cons
Lack of rewards or sign-up bonuses means that after the introductory period, this card has very little to offer.
Chase Freedom Flex
The choice for Us: Buyers are willing to spend time maximizing their rewards.
Follow Freedom Flex.
Card details
Rewards:
- 5% cash back in quarterly bonus categories up to $ 1,500 in combined expenses each quarter. Bonus categories need to be activated. (See the quarterly 5% bonus calendar below.)
- 5% cash back on travel bookings through Chase Ultimate Rewards®.
- 3% cashback on meals, including takeout and delivery services.
- 3% cash back on drugstore purchases.
- For all cardholders, up to 31 March 2025, 5% cashback on qualifying Lyft services purchased through the Lyft app.
- 1% cashback on all other purchases.
Sign Up Bonus: Receive a $ 200 bonus after spending $ 500 on purchases in the first 3 months of account opening.
Annual fee: $ 0.
APR: 0% introduction APR for 15 months on purchases and balance transfers, and then 15.24% -23.99% variable APR issued APR.
Benefits
This card comes with so many bonus categories that it is easy to feel that you are maximizing your cashback opportunities: in addition to the specified travel categories booked through Chase Ultimate Rewards®, food, and With drug store purchases, you can also enable roaming. Bonus categories, such as Walmart and PayPal. During the holiday season, those Q4 picks are especially valuable. Sign-up bonuses are also solid and relatively easy to earn, especially during the holiday season.
Cons
The 5% of this card also requires some work for a wide variety of categories: you need to activate the rotating categories every quarter. And if the options don’t match what you’re spending on, it’s probably not appropriate.
Citi Custom Cash℠ Card
Our Choice: Buyers who plan to spend heavily on home improvement stores.
Citi Custom Cash℠ Card
Card details
Rewards:
- 5% cashback per billing cycle (from the list of eligible options) up to $ 500 spent in your highest spending category.
- 1% cashback on all other purchases.
Signup Bonus: Get $ 200 cash back after spending $ 750 on purchases in the first 3 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $ 200 cashback.
Annual fee: $ 0.
APR: 0% introduction APR on purchases and balance transfers for 15 months, and then 14.24% -24.24% variable APR issued in April.
Benefits
If you are shopping for gifts in one of the 10 bonus categories of the card, which extends to home improvement stores and restaurants (see review for full list), then the card may be right for you this season. Many categories of bonuses are also compatible with everyday expenses, including grocery stores, gas stations, and drug stores, so it is also a useful card for day-to-day expenses throughout the year. It also comes with a generous signup bonus.
Cons
The 5% cashback rate comes with a $ 500 cap on each billing cycle, so you are limited to what you will earn with this card, and this rate only applies to one of the 10 categories.
Target REDcard Credit card
Our Choice: Loyal Buyers of Target
Target REDcard Credit card
Card details
Rewards: 5% discount on all eligible purchases.
Other benefits:
- Early access to special offers, gifts, and promotions.
- Free standard shipping (and two days of free shipping on qualifying items).
- 30 days extra time to return the purchase.
Annual fee: $ 0.
APR: Current APR is 22.90% variable.
Benefits
If you shop a lot at Target and plan to buy a lot of your gifts there, then the Target REDcard ™ Credit Card is for you: you can not only enjoy the 5% discount that is being issued but you can also There are also incentives such as return extra time, which is especially useful during the holidays. When you sign up for Target Marketing Emails, you can get up to 10% off every cardholder’s birthday.
Cons
This card is only valid for Target, so if you plan to spread your holiday shopping across a wide range of stores, you’ll need a different card. Also, the card doesn’t have any real introduction to APR promotions, so if you’re looking for funding, you’ll want to go somewhere else.
How to Maximize Your Savings This Holiday With a Credit Card
Credit cards are now, as usual, bringing more value to everyday purchases than ever before, and you can use them during the holidays to save even more.
For every dollar you spend during the holidays, you could possibly get a one percent refund, or get other rewards for using the right credit card. This includes spending on travel plans, festivals, meals, home decor, and a seemingly endless list of gifts.
