BEST CREDIT CARDS FOR HOLIDAY SHOPPING

Christmas is just around the corner. You are too preoccupied with work, parties to and fro, and family gatherings. You are about to begin your holiday shopping but you are still choosing the credit cards that can give you the best advantages. Before thinking about that, determine first whether you can afford to pay them off in full immediately or gradually over the next few months or longer.

If you decide to settle your balances right away, look for credit cards with best rewards, including points for additional holiday purchases or travel. Some cards also offer cash back deals according to your spending level. If you plan to pay off your holiday spending gradually, you may want cards with 0% interest on purchases for the next 6-12 months.

When looking for cards or retail offers with 0% interest, look thoroughly. Some cards are interest-free for a given time period, others are interest-deferred. Those interest-deferred ones incur interest in the long run, between 20% and 30%. It is better to pay off the balance on or before the designated period, or you will end up paying all the accumulated interest.

The article highlights the credit cards with best rewards:

Best Rewards Cards

• BankAmericard Travel Rewards – This card offers 1.5 points for every $1 spent, and even gives 10,000 point bonus if a holder makes at least $500 in purchases in the first 90 days. To make holiday spending easier, it offers 0% for the first 12 billing circles, and the variable fee is from 14.99% to 22.99%. The card does not impose annual and transaction fees.
• TrueEarnings Card for Costco and American Express – As long as the entity accepts American Express, this is considered the best cash back options on a credit card. Although it has no fee for the American Express Card, the holder must also be a Costco member. It pays back 3% on gas, 2% on restaurants and travel, and 1% on other purchases. This card has 0% interest charge on purchases for the first six months upon getting the card, and a variable rate of 15.24%.
• Walmart Credit Card – This MasterCard, offered through Synchrony Bank, gives back 1% on any purchase, with a statement credit issued each time the holder accrues $5. You also save up to 15 cents a gallon of gas at participating Walmart gas stations in the United States, as well as $5 rebate for every $500 charge and special discounts on the first day you purchase the card. Even though it levies no annual fee, the variable interest rate is 22.90%.

0% Interest Options

• BankAmericard Travel Rewards Card and TrueEarnings Card – Both have 0% interest offer for purchases. The BankAmericard Travel Rewards puts 0% interest on purchases for 12 months. But TrueEarnings Card has 0% interest on purchases for six months.
• Capital One VentureOne Rewards Card – Placing no annual fee, this card has 0% interest on purchases until December 2015, giving you ample time to settle your holiday shopping before it starts to incur interest. Once it accumulates interest, it ranges from 11.9% to 19.9%. Aside from that, you can attain 20,000 reward miles for spending $1,000 on purchases in the first 90 days.
• Chase Slate – This offers the longest interest-free period to repay the purchases - 15 month, as well as 0% interest on balance transfers for the same period. Although it charges no annual fee, the variable interest rate is 12.99%, 17.99%, or 22.99% following the introductory period, depending on the individual’s creditworthiness.

Before selecting the right credit for your holiday shopping, take into account your current finances and understand the fees and interest rate offers. Pick a credit card that can make your shopping experience more convenient and advantageous for you, may it be an interest-deferred or interest-free card.