Are you one of those dedicated holiday shoppers who combs through circulars on Thanksgiving Day looking for Black Friday bargains? Do you get up early that morning—or maybe never go to bed the night before—so that you can be first in line when the stores that offer the best prices open their doors?
While you can save lots of money by shopping sales, there’s another way that you can cut your holiday expenses even more—using a credit card that has either a low fixed-interest rate or a low (often 0%) introductory rate. Consider applying for cards like these if you want to take advantage of all the great bargains out there while spreading out payments over several months.
How would you like to take 14 months to pay for your Black Friday purchases—and avoid paying interest on the balance you carry for all that time? That’s what the Discover More card offers on both new purchases and balance transfers. (After that time, you’ll be charged an interest rate between 10.99%-20.99% on the remaining balance and on any new purchases, depending on your credit score.)
This card has some other great benefits as well. For example, from now through the end of December—just when you need it most—you can earn a 5% cash back reward on up to $1,500 in purchases at department stores and at online shopping sites. (That’s an extra $75 in your pocket, in case you don’t have a calculator handy.)
Once the holiday season is over, you’ll find that the categories for the 5% cash back program change each quarter. You’ll get the 5% bonus on gas and entertainment purchases from January through March; on restaurants and movies from April through June; and on gas, theme parks and movies from July through September.
One very important thing to remember: you don’t get these cash back deals automatically, so you need to register for the cash back program each quarter to reap the benefits.
Although some people enjoy the adrenalin rush of shopping in brick and mortar stores during the holidays, you may prefer the more leisurely online approach. If so, you’ll be glad to know that you can always earn up from 5% - 20% cash back bonuses at more than 200 online retailers any time of year when you use the Discover More card. All you have to do is shop online through Discover.com to take advantage of savings at well-known retailers such as Abercrombie & Fitch, Crate & Barrel, Bed, Bath and Beyond, Home Depot, LL Bean and many more.
The Discover More card is free to use, too. There is no annual fee, no rewards redemption fee and no additional card fee if you and your spouse both want to use the card.
Here’s another option: would a $100 cash bonus help you pay off some holiday bills? Charge $500 in the next three months on a new Capital One® Cash Rewards card and that’s what you’ll get. Plus, you have a year to pay off your purchases at 0% interest before the regular interest rate of 12.9%-20.9% kicks in.
With this card you get 1% back on all your purchases year round—plus an extra 50% bonus on those rewards on your account anniversary each year. (Capital One gives this example: earn $240 in cash back during the year, get a bonus of $120 for a total of $360 cash back.)
If you’re saving up for a big vacation or a major purchase—or even for Christmas next year—you’ll be glad to know that your cash back rewards don’t expire with this card; they’re there whenever you need them.
Don’t have time to apply for a credit card before Black Friday? Don’t worry! These credit card deals—and many others—are available year round on our site. Check out the Low Interest Credit Cards page today to find the right one for you.