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Holiday shopping: Credit cards with the best rewards
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NerdWallet CEO reveals the best credit cards for ‘trimming costs’ amid record inflation
NerdWallet founder and CEO Tim Chen provides economic analysis of the best credit cards available, breaking down the benefits and drawbacks of each on ‘Mornings with Maria.’
With high inflation, more consumers than ever are relying on credit cards to manage the cost of gifts for this holiday season.
In a recent report, National Retail Federation CEO Matthew Shay said "many households will supplement spending with savings and credit to provide a cushion" for themselves.
Experts have seen increased interest in signing up for store credit cards to offset the financial strain on their wallets, despite the high annual percentage rates (APRs) attached to those cards.
HOLIDAY SHOPPERS SPEND $72B IN OCTOBER AS EARLY DEALS KICK IN
To help shoppers stretch their tighter than normal budgets, WalletHub listed credit cards that offer upfront bonuses for signing up, savings of up to 5% on purchases and 0% introductory interest rates. In some cases, the cards will have a combination of high savings and low rates, at least for the first year.
Here are some of the top credit cards for shopping, according to WalletHub:
1. Blue Cash Preferred from American Express
The card offers new customers $250 for spending $3,000 within six months of opening an account. When making purchases, cardholders can earn anywhere between 1% and 6% cash back.