Last-Minute Rewards Cards to Snag for Holiday Spending

This page includes analysis of our favorite cards from The Simple Dollar's advertisers and the marketplace. Visit our advertiser disclosure to learn more.

With the holiday shopping season ready to wreak havoc on your budget, it’s only natural to look for new or different ways to save. Chances are, you’re gearing up for Black Friday and Cyber Monday while simultaneously watching out for special promotions and last-minute deals. By the time all is said and done, we can only hope that most of us will check off our holiday wish lists without going too far over budget.

Still, there’s a limit to how much you can save with doorbusters and Black Friday deals. If you’re looking for some less obvious ways to save that you can stack on top of sales and promotions, it can pay to consider which rewards cards offer the most bang for your buck.

This year especially, a handful of cards are offering stellar deals that can pair nicely with where you plan to do your holiday shopping. Here are a few cards you should definitely sign up for now – before shopping season hits high gear.

Discover it® Cashback Match™

While the Discover it® Cashback Match™ is a solid cash-back card you can use in any season, this year’s holiday bonus categories can help you rack up more rewards than usual. But first, let’s talk about how this card works.

Once you sign up, you’ll earn a flat 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com, or wholesale clubs up to the quarterly maximum each time you activate, plus 1% back on all other purchases. The kicker is, Discover has promised to double the rewards you earn during your first 12 months.

Obviously, it helps that the Discover it® Cashback Match™ doesn’t charge an annual fee. You also get a free FICO score on your monthly statement and U.S.-based customer service.

On the redemption side, cashing in points with this card is a piece of cake. Not only can you redeem points for statement credits that will erase holiday purchases, but you can redeem for gift cards and some merchandise, too.

Here are some more details to consider before you sign up:

Discover it® Cashback Match™


Highlights
Card Highlights Provided by Discover:
  • Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com, or wholesale clubs up to the quarterly maximum each time you activate.
  • INTRO OFFER: Discover will match ALL the cash back earned at the end of your first year, automatically.
  • Redeem your cash back for any amount, any time. Cash rewards never expire.
  • Use your rewards instantly at Amazon.com checkout.
  • No annual fee.

Chase Freedom®

Depending on your shopping habits, the Chase Freedom® is another card that might help you rack up more rewards this holiday season. This card works similarly to the Discover it® in that it offers 5% back on your first $1,500 in categories that rotate every quarter, plus 1% back on all other purchases.

In the last quarter of 2017, the Chase Freedom® is doling out 5% back on purchases made at Walmart, Walmart.com, and department stores. Obviously, this might be huge if you plan to do your holiday shopping at department stores or Walmart.

It’s worth noting which department stores are actually included in this promotion, however. It includes popular stores like JC Penney, Kohl’s, Macy’s, Nordstrom, and Sears, among others. (The full list can be found here.)

In addition to offering a different set of bonus categories from the Discover it®, the Chase Freedom® offers an array of cardmember benefits as well. Once you sign up, you’ll get perks like purchase protection, extended warranties, auto rental collision damage waiver, roadside assistance, trip cancellation/interruption insurance, lost luggage reimbursement, and travel accident insurance.

As an added bonus, the Chase Freedom® offers a signup bonus after you meet a minimum spending requirement. And once you earn your rewards, you can use them in several different ways. Use them to book travel through the Chase portal, redeem them for cash-back or gift cards, or use them to shop on Amazon.com, for instance.

Also keep in mind that, if you have a premier Chase travel card like the Chase Sapphire Preferred® Card, you can transfer your points to that account, and redeem them as more valuable Ultimate Rewards Points.

Chase Freedom®


Highlights
  • Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening
  • Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate
  • Enjoy new 5% categories each quarter like gas stations, restaurants and drugstores
  • Unlimited 1% cash back on all other purchases - it's automatic
  • 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 15.99-24.74%. Balance transfer fee is 5% of the amount transferred, $5 minimum
  • No minimum to redeem for cash back
  • Cash Back rewards do not expire as long as your account is open
  • No annual fee

Blue Cash Preferred® Card from American Express

Last but not least, don’t forget about the Blue Cash Preferred® Card from American Express – especially if you expect to host a big holiday dinner. This card doles out an amazing 6% back on your first $6,000 spent at U.S. supermarkets each year (and 1% thereafter), 3% back at U.S. gas stations and select U.S. department stores, and 1% back on all other purchases.

If you expect to prepare a feast — or to pick up gift cards for the holidays at your local grocery store — this card could help you earn a huge rate of return. That doesn’t even include the fact that many grocery stores also have gas rewards programs you can pair with this offer.

This card does charge a $95 annual fee, but it offers a large signup bonus that offsets the fee in the first year. Not only that, but if you do spend $6,000 at U.S. supermarkets throughout your first year — what amounts to a pretty average $500 a month on groceries — you would earn $360 in rewards for those purchases alone.

On the redemption side, you can redeem your points for statement credits, gift cards, or merchandise.

Blue Cash Preferred® Card from American Express

Partner Offer

Highlights
  • $200 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months.
  • 6% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%) - that means spending $60 a week at U.S. supermarkets could earn over $180 back per year.
  • 3% cash back at U.S. gas stations and at select U.S. department stores, 1% back on other purchases.
  • Expanding merchant acceptance: Over 1 million more places in the U.S. started accepting American Express® Cards in the last year.
  • $95 annual fee.
  • Cash back is received in the form of Reward Dollars that can be easily redeemed for statement credits, gift cards, and merchandise.
  • Terms Apply.
  • See Rates & Fees

The Bottom Line

Before you hit the stores hot and heavy this holiday season, make sure you’re using a rewards card that can work in your favor. By signing up for one on this list, you can easily earn at least 5% back on some of your holiday gifts.

At the same time, it’s crucial to make sure you can afford to pay your holiday gifts off as soon as you charge them. With most rewards cards carrying an average APR of around 15%, pursuing rewards while simultaneously carrying a balance is a losing proposition. Remember, the best holiday shopping season is one where you emerge debt-free.

Holly Johnson is an award-winning personal finance writer and the author of Zero Down Your Debt. Johnson shares her obsession with frugality, budgeting, and travel at ClubThrifty.com.

Related Articles:

Which rewards cards are you using for holiday shopping this year? Why? Please share in the comments below!

Editorial Note: Compensation does not influence our rankings and recommendations. However, we may earn a commission on sales from the companies featured in this post. To view a list of partners, click here. Opinions expressed here are the author's alone, and have not been reviewed, approved or otherwise endorsed by our advertisers. Reasonable efforts are made to present accurate info, however all information is presented without warranty. Consult our advertiser's page for terms & conditions.

The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved, or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.

Loading Disqus Comments ...
Loading Facebook Comments ...