Take Advantage of Holiday Rewards from Your Credit Card

Girl holiday shopping with credit cardThe holiday season is a struggle between credit card companies and their customers. Your job is to resist the ever-present temptation to spend more than you can afford, while taking advantage of holiday incentives. If you’re unfamiliar with Capital One, Discover, and American Express’s annual Christmas offers, now is a good time to learn about them.

5% Cashback on Holiday Purchases

It’s common for credit cards to have a monthly cashback offer in specific categories. During the holiday season, look forward to cashback for electronics, toys, and clothing. You might have to enroll in the offer to receive it, so sign into your account now to check out the upcoming offers. Although 5 percent might not seem like much, considering the average holiday shopper spends a little more than $800, $40 is nothing to scoff at for doing nothing but clicking a button.

American Express Statement Credits

American Express has always been generous with their statement credits, but they’re even more generous during November and December. Look out for their offers to receive a quick $25 back when shopping at eligible stores.

Black Friday-Specific Offers

In the past, credit card companies like Capital One have offered incentives to shop online through their discount portals. If you’re not a fan of the mad rush to Walmart, consider logging onto each of your credit accounts first. It’s not unusual for a credit card to come with a shopping portal.

Bigger and Better Perks on New Credit Cards

If you were already shopping for a new credit card, the holiday season is the perfect time to scoop one up. Almost every company is competing for your business more than ever, because they know you’re in a spending mood. Look at the APR, rewards points system, cashback offers, and how long the card has 0% interest. Of course, it isn’t financially responsible to get a new card to purchase gifts you couldn’t ordinarily afford. Only apply for a credit card during this season if you were already in the market for one.

Zero Interest for 6 to 18 months

Zero interest for at least six months is a common offer on new credit cards. It’s not at all restricted to the holidays. You can still take advantage of it to save for Christmas, though. If you have debt on an existing card, transfer the balance to a zero interest card. It remains very important to pay off this balance before your zero interest period is up. Balance transfers are generally billed at a higher APR than standard.

More on shopping during the holiday shopping season.

Posted on November 17, 2014 by in Credit Cards

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