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These Two Cards Make Earning Cash Back on Holiday Gifts Easy
As more credit card issuers compete for new business, it's only natural for them to lavish their customers with "gifts" in an effort to compete. On top of credit card signup bonuses for meeting specific minimum spending requirements, some cards even have cash back policies that let you earn an unbelievable 10% cash back.
With the holidays underway, the timing for these cards couldn't be better. If you're looking for a way to get something in return for your generosity, consider these three crazy 10% cash back offers before you start your holiday shopping.
Double Cashback Plus No Annual Fee:
Discover it® - Cashback Match™
If you don't want to pay an annual fee to score big on your holiday shopping bill, it would be hard to beat the Discover it® - Cashback Match™. With this no-fee card, you'll earn a crazy 5% cash back on Amazon.com purchases the final quarter of this year – then watch that amount double after your first 12 months.
Here's how this works: With the Discover it® - Cashback Match™, you'll actually score 5% cash back on your first $1,500 spent in bonus categories that rotate every quarter, plus 1% back on all other purchases. At the end of 12 months, Discover will double every point you've earned.
You can redeem your cash back in any increment you want and at any time, although you'll have to wait 12 months to get the second half of your cashback haul. On top of no annual fee, this card offers a free FICO score on your monthly credit card statement.
Pros: If you're fee-averse, the Discover it® - Cashback Match™ is one of the best options for earning cash back. Not only will you earn 5% back in categories that rotate every quarter and 1% cash back on everything else, but you'll get double the rewards after 12 months. This card also gives 0% APR on both purchases and balance transfers for your first 14 months.
Cons: The fact that this card limits "bonus earnings" to your first $1,500 spent in categories that rotate every quarter means your chance to boost your rewards is a bit limited. Plus, this card doesn't offer a signup bonus. You also need good credit to qualify.
Verdict: This card is perfect for the fee-averse shopper who wants to earn cash back and never pay for the privilege.
The Card with Upfront Rewards:
Wells Fargo Cash Wise Visa® Credit Card
If you want a card that offers a lot of initial "bang for your buck," the Wells Fargo Cash Wise Visa® Credit Card is a newer option to consider. With this card, you'll earn a $150 signup bonus on your first $1,000 spent on anything – this equals 15% cash back!
On top of the signup bonus, you'll score an ongoing 1.5% cash back for every purchase you make with no limits and no worry over expiration as long as your account is open. Also enjoy 1.8% cash rewards on Android Pay™ or Apple Pay™ mobile wallet net purchases during the first 12 months from account opening
This card also comes without an annual fee, making it the perfect card to keep for the long run. As an added bonus, the Wells Fargo Cash Wise Visa® Credit Card is offering 0% on balance transfers and purchases for the first 12 months. If you want to pay down your holiday shopping bill slowly – and without interest – signing up for this card is a smart move.
Pros: Don't like annual fees? No problem. The Wells Fargo Cash Wise Visa® Credit Card doesn't charge one. Better yet, you'll earn an amazing $150 signup bonus after using your card for just $1,000 in purchases within the first 90 days. That's 15% cash back!
Cons: Beyond the signup bonus, you're stuck with the standard 1.5% cash back rate on all purchases.
Verdict: This card is perfect for the busy mom who doesn't want to keep track of rotating categories or spending caps. With a standard rate of 1.5% cash back on all purchases, earning cash back is simple!
Worried you'll miss out on some much-needed cash over the holidays? You've still got time to pick an awesome rewards cards that will help you earn cash back on everything you buy.
The cash back cards we've listed here are a good place to start, but there are plenty of other options to consider. Check out LendingTree's credit card options for more details.