When it comes time to buy gifts this year, have you thought about what are the best credit cards for holiday shopping? Choosing the right credit card can offer you valuable rewards in the form of points, miles, or cash back, as well as important benefits such as price protection, return protection, and extended warranty coverage. Furthermore, some credit cards even offer 0 percent APR promotional financing for a year or more, to give you extra time to pay for your purchases before you incur interest.
Here are the best credit cards for holiday shopping.
Target is one of the most popular retailers in the United States, and its REDcard store charge card features 5 percent off of all purchases at their stores and online. Cardholders also receive free shipping for purchases from Target.com as well as an extra 30 days to return purchases made online or at stores. However, there is a 22.9 percent APR for this card, which is not very particularly competitive. Therefore, this card is best used by those who avoid interest by paying their statement balance in full, every month. There is no annual fee for this card, which is not part of a payment network and can only be used for Target purchases.
Discover it® - Cashback Match™
The Discover it®- Cashback Match™ card features 5 percent cash back on up to $1,500 spent each quarter on select purchases. For example, during the fourth quarter of 2015 (October – December), eligible purchases include those made at department stores, clothing stores, and Amazon.com. All other purchases receive 1 percent cash back. New cardholders currently receive 12 months of interest free financing on both new purchases and balance transfers, with a 3 percent balance transfer fee. Other benefits of this card include purchase protection, price protection, return guarantee, and 100 percent U.S.-based customer service. There is no annual fee for this card, no foreign transaction fees, and no penalty interest rate.
Citi® Diamond Preferred® Card – 21 Month Intro Offer on BT and Purchases
When your holiday shopping plans require top-notch shopping protections and the longest promotional financing offer available, the Citi® Diamond Preferred® Card – 21 Month Intro Offer on BT and Purchases is your best option. This card features 21 months of interest free financing on both new purchases and balance transfers, with a 3 percent balance transfer fee. In addition, shoppers enjoy benefits such as extended warranty coverage, damage and theft protection, and Citi's Price Rewind service. There is no annual fee for this card.
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