NEW YORK (MainStreet) — As the holidays approach, savvy shoppers can take advantage of a variety of credit card deals to help pay for purchases.
Generous rewards, lucrative sign-on bonuses and low introductory interest rates are just some of the factors that credit card website CardHub found define the best cards for holiday shopping, with some issuers sweetening the deal on some already-premium products.
Here are the ones you should choose from, based on your own needs and creditworthiness. Remember, though, that it’s not a good idea to run out and sign up for all these cards as a way to save on holiday purchases, especially if your credit score can’t take a hit from the inquiries that happen any time you apply for credit.
Chase Sapphire Preferred Card
Those who plan to buy a lot of big-ticket items this year will stand to benefit from the Chase Sapphire Preferred Card. The bank (Stock Quote: JPM) is offering 50,000 points as an initial bonus to those who spend $3,000 in the first three months of use, which can be redeemed for a $500 check or credit that can help cover holiday charges. The card carries a 15.24% APR and the $95 annual fee is being waived for the first year.
If you’re paying for a majority of your holiday purchases with a credit card, you may find that you need to transfer some or all of those charges to a lower-interest card later on. Citi’s (Stock Quote: C) Platinum Select card lets consumers transfer charges for a 3% fee, but won’t charge interest on the new balance for 21 months afterwards. The card also has no annual fee, and once the introductory period is over the APR will be between 11.99% and 21.99%, depending on creditworthiness.
Citi Dividend World MasterCard
Another great card to consider if you’re looking to transfer over a high holiday balance is Citi’s World MasterCard (Stock Quote: MA). According to CardHub, this card allows consumers who need some extra time to get over the holiday shopping hangover to pay down purchases interest-free for 15 months. It also currently features a $100 initial bonus if you spend more than $500 in the first three months, and lets consumers earn 5% cash back on department, clothing, electronics and toy store purchases until the end of the year. The card carries no annual fee and the APR after the introductory period will be between 12.99% and 22.99%, depending on creditworthiness.