Money Management

The Best Cash Back Credit Cards for the Holiday Shopping Season

We’re nearing the end of 2012, and Black Friday and Cyber Monday have already passed. Millions of people still have more holiday shopping to do, however. Most people know that they will be spending a good amount of money on their holiday gifts for friends and family, but what these people don’t realize is that they could be getting a significant amount of cash back for every purchase they make just by using the right credit cards. This article will highlight the top three cash back credit cards for the 2012 holiday season.

  1. Discover® More®– The Discover More Card is one of the best credit cards you can apply for if you plan on doing a good deal of online shopping throughout the holidays. This is because the Discover More Card offers a whopping 5% cash back on the first $1,500 you spend at online retail outlets. If you do end up spending $1,500, then you stand to earn $75 cash back, and that’s just for using the Discover More Card on shopping you would already be doing. That’s just easy savings. An additional benefit is the 0% APR on balance transfers and purchases for the first 14 months you have the card. This is another great way to consolidate your debt, and save money on interest if you plan on carrying a balance.
  2. Capital One® Cash Rewards– The Capital One Cash Rewards Card is another great cash back credit card option for the holidays, as well as year-round. The Capital One Cash Rewards Card offers 1% cash back on all purchases, as well as an additional half of a percent cash bonus at the end of the year on the cash you earned throughout the year. If you do the math, this factors out to a true cash back bonus of 1.5%. The Capital One Cash Rewards card also offers a $100 cash back bonus for spending $500 during the first 3 months, and a 0% intro APR on purchases and balance transfers until November 2013.
  3. Chase Freedom® Visa – The Chase Freedom Visa Card is yet another excellent choice for a cash back credit card for the holidays and the rest of the year as well. The Chase Freedom Visa offers 1% cash back on all purchases, as well as 5% cash back on hotel and airline bookings and purchases at Best Buy and Kohl’s, which is a huge benefit for those doing a lot of holiday traveling and shopping. The Chase Freedom Visa also offers a $100 cash back bonus after spending $500 in the first three months of having the card.

Don’t squander the free cash savings that are available just by applying for a cash back credit card. You’re going to be spending money on holiday traveling and shopping anyway, so why not get paid for it? You should compare the cash back credit cards above as well as additional cards in order to find one that best complements your spending habits. If you put in a little time doing the research, it will end up earning you a good deal of cash.

Logan Abbott is the editor of MyRatePlan.com, a leading resource for comparing credit cards on the web.

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