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Many customers are steering away from credit cards for their holiday spending, according to reports, but a lot of people don’t realize that they are giving up the chance for added savings and bonus rewards if they use a major credit card on Black Friday.
On top of some great Black Friday saving opporuntities, using your credit card may offer you amazing consumer benefits like price match guaranties and extended warranties. (To learn more, check out this article on the Top 11 Hidden Credit Card Perks.)
Black Friday Credit Card Offers
Here are just some of the ways you can save even more — or earn more rewards — with your credit card on Black Friday this year.
Capital One Bonus Rewards
Capital One will offer up to 15 extra reward miles on every dollar spent between Black Friday and Cyber Monday. Here are some of the deals you get when you use your Capital One card in stores or online:
- Omaha Steaks: 15 bonus miles
- The Body Shop: 9 bonus miles
- Godiva – 5 bonus miles
- Macy’s – 3 bonus miles
- Barnes & Noble – 2 extra miles
The Citi Dividend Platinum Select Mastercard offers 5% cash back in department, clothing and electronics stores through December 31. This is the card to use to take advantage of Best Buy Black Friday steals on laptops and HDTVs. If you’re only using one card, because of the broad categories (is there any other type of shopping on your Christmas list?) this is a good one to carry for Black Friday. Don’t forget to enroll for bonus rewards first!
Not the best for Black Friday shopping, with the Chase Freedom card you’ll earn 5% cash back in grocery stores, department stores and at the movies. Pick up your holiday turkey and movie gift certificates for the “hard-to-buy-for” people on your list with your Chase Freedom card — as long as you remembered to “opt-in” to the program.
Discover it Card
Your Discover it card will get you up to 5% cash back in restaurants, clothing and department stores, making this another good card for all-day holiday shopping sprees followed by dinner and drinks.
Black Friday Shopping Tips to Save Money
Just taking your plastic and hitting the mall will not be enough to save money. You also need a strategy not to overspend. And here are some tips to help you save money this Black Friday:
Never, ever leave home without a list
You may comes across deals you didn’t know about, and it’s okay to take advantage, but do your research. Many stores leak Black Friday circulars early, so you can know exactly who you’re buying for and what you’re buying.
Open your credit card statements this month
If you still get paper statements in the mail, you may find great savings coupons inside. Macy’s mailed a 15% off “Choose Your Own Sale Day” between November 1 and December 23 in this month’s Citi card statements.
Take advantage of price matching
Citi, American Express and other major credit cards have offers where if you see an item you purchased with your card for a lower price after you bought it, they will refund the difference. Check the terms of service for your specific credit card to see if you have this benefit; it can save you a lot of running around and second guessing your purchases.
Use your store Christmas club cards
If you’ve been loading up dollars on your Sears or Toys R Us club cards, now’s the time to cash them in. Make a list of items you want to buy at this store with your card, but be sure to check prices at competitor’s to make sure you’re still getting the best deal.
Pay off your cards before the grace period ends
Don’t let all your holiday savings get eaten up by finance charges. Keep track of due dates and grace periods. Pay cards off as soon as possible, well before the grace period ends, to avoid finance charges. Pay credit cards with no grace period as soon as possible — smartphones even make it easy to pay your credit card before you leave the store.
Check Rewards stores online to use your rewards to shop and earn even more bonuses
Chase is offering great deals for Cyber-Monday and all through the season at the Ultimate Rewards Mall. Check other major credit card sites for bonuses and added savings for the holidays, too.