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'Tis the season for giving—which means you're probably going to spend a lot of cash you've worked hard to earn all year.
Americans will spend an average of $1,284 on holiday gifts, travel and entertainment—a 2.7% increase from last year—according to PwC's 2019 Holiday Outlook survey. This holiday shopping season, make sure the right credit cards are in your wallet to help you save money, maximize rewards and stay out of debt.
Check out these five credit cards before you start spending.
Discover it® Cash Back
Discover it® Cash BackApply
on Discover's website
11.99% - 22.99% Variable
Intro APR: 0% on Purchases and Balance Transfers for 14 months
1% cash back on All Other Purchases
Intro Bonus: Dollar-for-dollar match of all cash back earned the first year
- INTRO OFFER: Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match.
- Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum when you activate.
- Plus, earn unlimited 1% cash back on all other purchases - automatically.
- Redeem cash back any amount, any time. Rewards never expire.
- Use your rewards at Amazon.com checkout.
- Get an alert if we find your Social Security number on any of thousands of Dark Web sites.* Activate for free.
- No annual fee.
If you're planning on doing most of your Black Friday shopping online—and don't forget about Cyber Monday—the Discover it® Cash Back card is tough to beat. During the last three months of 2019, the card offers 5% cash back on up to $1,500 in spending at Amazon.com, Target (in-store and online) and Walmart.com when you activate. You'll earn 1% on everything else.
What's more, Discover will match all your cash back earnings at the end of your first year with the card—effectively earning you 10% back on your holiday shopping using those websites, plus 10% on all other bonus categories, and 2% back everywhere else. Discover's introductory 0% APR on purchases and balance transfers for 14 months means you will have plenty of time to pay down your holiday spending without accruing interest.
Chase Sapphire Preferred® Card
Chase Sapphire Preferred® CardApply
on Chase's website
15.99% - 22.99% Variable
Intro APR: N/A
1X points on All Other Purchases
Intro Bonus: Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
- Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
- 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 60,000 points are worth $750 toward travel
- Get unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DashPass, DoorDash's subscription service. Activate by 12/31/21.
- Earn 5X points on Lyft rides through March 2022. That's 3X points in addition to the 2X points you already earn on travel.
If you like the idea of turning holiday spending into your next vacation, the Chase Sapphire Preferred® Card can help make that happen. The card offers 60,000 bonus points after you spend $4,000 in the first 3 months—that's worth $750 in travel when you book through Chase Ultimate Rewards.
You'll also have the option to transfer your points to one of several airline and hotel rewards programs at a 1-to-1 ratio, giving you plenty of ways to redeem your rewards for an incredible trip.
The card offers 2 points per dollar spent on travel and dining and 1 point per dollar spent on everything else. It also comes with several travel perks, including trip cancellation and interruption insurance, trip delay reimbursement, baggage delay insurance, primary rental car insurance (which doesn't require you to involve your personal insurance company like most credit cards) and more.