ARLINGTON, Va. (TheStreet) — It’s funny how the tenor of the holidays can change as you grow up. When you’re a kid, the holiday season is all about excitement and presents, but when you’re an adult, trying to make ends meet can cloud the fun. It’s therefore important that you’re aware of the best ways to minimize the cost of holiday shopping this year so the kid in you can emerge and maximize the merriment.
It all starts with comparison shopping and sale hunting, because if you aren’t paying the lowest possible prices you’re leaving money on the table. But you know that already. What you may not know is that being smart about the way you pay for holiday purchases can effectively supercharge your savings, while being careless can wipe them out altogether.
The right credit card can save you hundreds
When it comes to holiday shopping, there are indeed “right” and “wrong” credit cards to use. The best card for your holiday shopping needs depends on your spending and payment habits.
If, with holiday shopping considered, you expect to spend at least $3,000 during the next three months: The Chase Sapphire Preferred Card is the one for you. New cardholders who charge at least three grand during the first three months get 40,000 bonus points redeemable for a $400 statement credit or $500 in travel accommodations booked through Chase’s rewards portal. Considering the fact that the average holiday shopper is expected to spend $750 to $850, according to multiple surveys, the Sapphire Preferred Card could essentially lower your tab by around 50%.