First week of November is over. Most people are now starting to think about what gifts to get for their friends and family for the holidays. And if you are one of those who budget minded, you probably already start putting aside some money (hopefully in cash) to pay for those holiday gifts.
In 2018, according to the National Retail Federation, consumer spent “an average of $1,007.24 during the holiday season.” If we take inflation into account and all of the 2019 government changes on tariffs, it is certain that the average holiday season spending will increase this year.
In this blog post, I want to talk about how we can take advantage of this bound-to-happen expenses. In other words, you know you will be paying for it anyway, why not get a bonus cashback out of it?. Rather than paying cash, you will probably better off opening a new credit card with no annual fee SPECIFICALLY for the holiday shopping this year. Don’t worry about the interest rate, because you are going to pay it off with the cash you have set aside.
I found the following credit cards that only requires $500 spend to qualify for the Bonus Cashback: (Note: I am not going to talk about the points or rewards earned on your purchases in this blog. This post is strictly only for the Bonus cashbacks to offset your holiday spending).
Chase Freedom Unlimited requires you to only spend $500 within 3 months to get $150 cashback!. With the holiday shopping coming soon, the requirement is very achievable. Plus, getting $150 cashback is like getting about 30% discount on your $500 spending. Check out Chase Freedom Unlimited.
Another credit card that have very similar cashback bonus structure is the Capital One® Quicksilver® Cash Rewards Credit Card.
Besides these two that I am featuring in this blog, there are also other No Annual Fee credit cards such as the CHASE FREEDOM and the CAPITAL ONE SAVOR ONE that have similar cashback bonus structure as well.
I would suggest for you to check out these cards. Getting an average of 30% cashback is a no-brainer – especially if you are going to spend the money anyway. The holiday deals should be around the corner. If you apply now, you may still get card just in time for you to shop.
I personally like credit cards because of these benefits. If you add the points/rewards earned on the purchases, it makes it even worth it to put the purchases on credit card. Think about this, when you shop during holiday deals, you receive discounts from the store. Getting cashback on top of it makes it a much better deal!
Disclaimer: Having credit card is a privilege. The purpose of this post is to give you ideas of what you can do with credit cards. If you have a history of out of control spending with credit cards, please do not follow any advise or tips in this post. Stick with CASH!