The best credit cards for holiday purchases

news7g11/17/2022

6 6 minutes read

The best credit cards for holiday purchases

Editor’s Note: This is a recurring post, regularly updated with new information.

During the year-end shopping season, you probably have a long list of gifts to buy for family and friends. Since you are reading The Points Guy, I certainly hope that you are giving careful consideration to something. Credit card gives you the best rewards and protection for these purchases.

Today, I wanted to go through a list of the top cards to use when you shop for gifts during the holiday season.

It’s important to note that this list is by no means exhaustive, but instead, consider the variety of cards that might appeal to a wide range of readers out there. Everyone has their own criteria for deciding which card is best for holiday shopping, so make sure to work out the numbers based on your unique situation.

That said, here are our top picks for your gift shopping during the holiday season.

The best credit cards for holiday purchases

Amazon Prime Visa Signature card information has been independently collected by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

Capital One Venture Rewards Credit Card

The Capital One Venture Reward is a great choice for those who want to earn flexible rewards without having to worry about bonuses according to different spending categories. Venture rewards accrue 2 miles for every dollar spent on all qualifying purchases — ensuring that you earn bonus points whether you buy or not Drop Stuffers or read through Cyber Monday Offer.

There is also flexibility in how you redeem the miles you earn. You can use your miles to “refund” for travel booked in the last 90 days. Or you can transfer your miles to more than 15 airline and hotel loyalty programs to book a new trip. You can also redeem miles for gift cards or statement credits for eligible purchases, though your best option is to pass them on to airline or hotel partners.

Chasing Freedom Flex

Whether you’re more of a brick-and-mortar shopper or prefer to shop online, you’ll get 5% back up to $1,500 on purchases at Walmart or with PayPal with Chasing Freedom Flex inside fourth quarter of 2022.

While a 5% cashback sounds great, those with experience with points and miles know that the Chase Freedom Flex is More than just a cashback card. When it is combined with a premium Chase card to earn full Ultimate Rewards points — such as a card Chase Sapphire Priority Card or Chase Sapphire Reserve — that cashback can be redeemed for multiple Final Bonus points are more valuablewhich you can pass on to partners including unified airline and Hyatt.

TPG . value The ultimate ride bonus for 2 cents per person, so that’s why combining Freedom Flex (or Unlimited pursuit of freedom) with Sapphire Reserve and Ink . Business Preferred Credit Card create a formidable score machine.

If you don’t already carry this card, the Chase Freedom Flex will offer new cardholders a $200 cashback bonus after you spend $500 in the first three months with the card.

Amazon Prime Rewards Visa Signature

If you are a regular Amazon shopper, Amazon Prime Rewards Visa Signature is the card for you, with no annual fee (though it does require an Amazon Prime membership at $139 a year).

With Black Friday and Cyber Monday coming up, you want a card that gives you the biggest bang for your buck for holiday shopping. Amazon Prime Visa offers 5% cash back on all Amazon and Whole Foods purchases, 2% cash back on restaurant, gas station, and pharmacy purchases, and 1% cash back on everything else.

If you don’t already have a card, new subscribers will receive a $150 Amazon gift card immediately upon approval, helping you reduce holiday shopping costs in the first place.

American Express® Gold Card

No question, Gold Amex is one of the best cards for gourmet. With a 4 point per dollar earning rate at US supermarkets (spend up to $25,000 per calendar year, then 1 point per dollar) and restaurants worldwide, 3 points per dollar on flights booked directly or through Amex Travel and 1 point per dollar on all other eligible purchases, this card can provide some lucrative income for everyday purchases.

While the monetization rate for no-bonus purchases is only 1 point per dollar, you might consider paying with Amex Gold this holiday season for Strong purchase protection policy. Eligible items will be covered for up to $10,000 for theft, damage or loss within the first 90 days of purchase.* This is significant, especially if you’re shopping. Buy expensive items this holiday season like electronics or furniture.

Amex Gold also comes with a Warranty extensionextend the US manufacturer’s warranty by one year for qualified warranties of three years or less.*

You’ll never know when you’ll need to rely on these protections, but they can be quite valuable and might be worth sacrificing the bonus points you earn from the other cards on this list.

*Eligibility and benefit levels vary by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. The policies are underwritten by the AMEX Insurance Company.

Bank of America® Premium Rewards® Credit Card

If you have the ability to deposit a substantial amount of your investments and savings with Bank of America or Merrill, Bank of America® Premium Rewards® Credit Card is a great choice for holiday shopping.

While the card comes with a reasonable (though not overwhelming) earning rate of 2 points per dollar spent on travel and dining and 1.5 points per dollar spent on all purchases (can be redeemed at the rate of 1 cent per point), the real value of this card will come when you can achieve Platinum award rank or Platinum Honor in Bank of America’s exclusive Priority Rewards banking program. That way the daily earning rate on this card can jump all the way to 2,625 points for every dollar spent, making it a great choice for holiday gifts.

The Bank of America Premium Rewards card currently offers a 50,000-point sign-up bonus if you make at least $3,000 in purchases within the first 90 days of account opening. Plus, the card comes with a statement credit of up to $100 towards TSA Pre-Test, Global Entry and a statement credit of up to $100 annually toward airline incidentals — all for a mere $95 annual fee.

Citi® Double Cash Card

The last card on my list earns a spot in part because of its simplicity. The Citi Double Card offers a flat 1% cashback on every purchase plus another 1% cashback when you pay your bill (up to 2% cashback total).

While this rate of return on daily purchases does not compare to the potential rate of return highlighted above, it is automatic and it results in hard, cold cash in your account. friend. For many shoppers, a annual free card like this fit the bill.

important consideration

Holiday shopping can also be a great way to meet the minimum spending requirement on a new credit card, as long as you do it responsibly. Have lots of great welcome offers to consider. We have selected a Latest bounty list hereso check out if there’s anything you might want to do this holiday season.

Plus, some of your existing credit cards may offer calendar-year bonuses or additional benefits for spending a certain amount on the card, so if you’re about to pay any Among them, you should focus your vacation spending on them.

In addition to making sure you’re using the correct credit card, it’s also important that you go through a online shopping portal to maximize your income. The best thing about online shopping portals is that you don’t have to use a specific card to make a purchase.

My favorite site to decide which portal to use is CashbackScreen, as it compares a given merchant’s earning rate across various shopping portals. I also want to download the browser extension of my favorite shopping portal so that I never forget to activate additional income.

bottom line

There are ways to get the most out of your purchases during the holiday season. However, every points and miles enthusiast has his or her own way of finding the best card to swipe at checkout, so you could have a card that earns you even more awesome rewards or will help you hit your bonus threshold. according to the calendar year.

Remember that many online purchases can be made even more lucrative by going through an online shopping portal, which will give you extra points or miles (or cashback) at the click of a button. through the website.

Official app link: Venture capital.
Official app link: Chasing Freedom Flex.
Official app link: American Express Gold.
Official app link: Bank of America Premium Rewards Card.
Official app link: Citi Double Card.