Best Credit Cards for Black Friday

One of the official kick-off events of the holiday shopping season is Black Friday; and with it comes nationwide sales to help you get a headstart. But before you start mapping out your shopping strategy, take a look at your credit card strategy. While you certainly don’t want to charge more than you can afford, you can maximize your savings with credit cards that reward your personal buying habits. 

Here are our favorite cards of the season that can help you save more on Black Friday. 

Discover it Cash Back: Best for earning cash back with Target and Walmart purchases  

The Discover it Cash Back credit card offers quarterly rewards categories that give you extra incentive to plan your shopping throughout the year. For the fourth quarter, you can hit up Target and Walmart to earn 5 percent cash back at both stores through December 31, 2019. Just in time for Black Friday.

The purchase limit for this reward is $1,500, which means you could get as much as $75 back from these two stores alone. Also included in this ramped-up rewards category for the quarter is Amazon, making this card a great option for Cyber Monday as well. With the Discover it card’s cash back match benefit at the end of your first year as a cardholder, you’ll essentially double your Black Friday earnings.

Discover it Cash Back details:

  • APR: 0% intro APR for 14 months on purchases and balance transfers; then 13.74% to 24.74%
  • Annual Fee: $0
  • Rewards Rates: 5% cash back on quarterly categories; unlimited 1% cash back on everything else
  • Intro Bonus: Matching bonus of earned cash back after your first year

Citi Double Cash: Best for instant earning on Black Friday

Most credit cards accumulate your rewards only as you pay off your balance. With the Citi Double Cash card, however, you’ll start earning your cash back rewards as you spend. You get 1 percent back automatically with your purchase, then you receive an additional 1 percent cash back when you pay off your card.

The upside is that even if you have a longer payment plan in mind for your Black Friday purchases, you’ll still get the initial 1 percent right away. You can choose between receiving a check or a statement credit, giving you flexibility in how you spend that extra money.

Citi Double Cash details:

  • APR: 15.74% to 25.74%
  • Annual Fee: $0
  • Rewards Rates: 2% cash back
  • Intro Bonus: None

American ExpressⓇ Blue Cash Preferred: Best for Thanksgiving weekend travel

The Blue Cash Preferred card offers multiple 3 percent cash back categories related to travel. If you’ll be on the road rather than in the stores on Black Friday, this could be a good option. Both transportation charges (taxis, bus tickets, or train fare) are eligible, as are gas station purchases. 

Whether you need to fill up the tank to make it across town for the best deals or want to Uber your way around to avoid the crowded parking lots, the Blue Cash Preferred can help you accumulate extra cash back. 

American Express Blue Cash Preferred details:

  • APR: 0% intro APR on purchases and balance transfers for 12 months; then 14.74% to 25.74% APR
  • Annual Fee: $95
  • Rewards Rates: Tiered categories earning 6%, 3%, and 1% cash back on certain purchases
  • Intro Bonus: $300 cash back when you spend $1,000 in first three months

Capital One Quicksilver: Best for shopping at multiple retailers

This card comes with a lot of attainable benefits that you can take advantage of, no matter where you plan to shop on Black Friday. With an unlimited 1.5 percent cash back rate, you can earn extra money in your pocket, whether you’re shopping in stores or online.

On top of that, new cardholders can earn the $150 cash bonus by spending just $500. If you have a long gift list you’re tackling on Black Friday, you could hit that threshold easily.

Capital One Quicksilver details:

  • APR: 0% APR on purchases and balance transfers for 15 months; then 15.74% to 25.74%
  • Annual Fee: $0
  • Rewards Rates: 1.5% cash back
  • Intro Bonus: $150 cash bonus when you spend $500 in the first three months

Chase Sapphire Preferred: Best for future travel bonuses   

To save money on a future trip, use your Chase Sapphire Preferred card on Black Friday to help reduce those upcoming travel costs. You get 2X points when you spend on travel and dining. So, if you’d rather go an adventure than go shopping over the long weekend, this is a great card.

On top of that, spending $4,000 during your first three months earns you 60,000 bonus points. By booking your travel through Chase Ultimate Rewards, that amounts to $750 towards your next trip. Start using your card during the holiday shopping season to help you meet the minimum spending requirements. 

Chase Sapphire Preferred details:

  • APR: 17.99% to 24.99%
  • Annual fee: $95
  • Rewards Rates: 2X points on travel and dining; 1X points on everything else
  • Intro Bonus: 60,000 points after spending $4,000 in the first three months

Chase Freedom: Best for department store shopping

Chase Freedom offers a standard 1 percent cash back on unlimited purchases. But you can also earn 5 percent cash back on different categories each quarter. For the last quarter of 2019, that special spending category is department stores – meaning you can maximize your rewards spending by shopping at the mall on Black Friday.

Another perk that comes with the Chase Freedom is that you can quickly earn a $200 cash bonus by spending just $500 in the first three months. Between Black Friday and the rest of your holiday shopping window, that’s an easy milestone to achieve.

Chase Freedom details:

  • APR: 0% intro APR on purchases and balance transfers for 15 months; then 16.99% to 25.74%
  • Annual Fee: $0
  • Rewards Rates: 5% cash back in rotating categories; 1% cash back on everything else
  • Intro Bonus: $200 cash bonus after spending $500 during the first three months

Amazon Prime Rewards Visa Signature Card: Best for cashback for shopping on Amazon

If you prefer to snag the best Black Friday (and Cyber Monday) deals from the comfort of your own home, try the Amazon Prime Rewards Visa Signature card. You’ll earn 5 percent cash back for every purchase you make on, as long as you’re a Prime member. This high earning category also includes any purchases made at Whole Foods.

You can also earn 2 percent cash back at restaurants, drug stores, and gas stations. All other purchases with the card qualify for 1 percent cash back, making it an easy way to earn even beyond Black Friday.

Amazon Prime Rewards Visa Signature Card details:

  • APR: 16.24% to 24.24%
  • Annual Fee: $0
  • Rewards Rates: 5%, 2% and 1% cash back categories
  • Intro Bonus: None